Macquarie has projected a compound annual growth rate (CAGR) of 15% in earnings per share (EPS) for banks over the next three years, emphasizing that margin issues are expected to be temporary. The brokerage prefers large private banks and advises selective risk-taking with non-banking financial companies (NBFCs). Among its top stock picks are HDFC Bank, Axis Bank, AB Capital, Power Finance Corporation (PFC), Shriram Finance, and Life Insurance Corporation (LIC). Macquarie remains cautious about public sector banks and life insurers, revising ratings for IndusInd Bank, PB FinTech, and HDFC Life. Market analysts continue to monitor key stocks such as HDFC group shares, Asian Paints, and Kalyan Jewellers, with technical analysis focusing on price movements around the 200-day moving average.