If there is any sector where decoupling is glaring, it is in the banking sector. When giant Western banks are weak and struggling for survival, Indian banks, including many public sector banks, are robust and healthy. Their earnings have been great in the March quarter, partly due to treasury gains but also due to credit growth. Public sector banks continued to lend aggressively while private...

Evinix started as a manufacturer of accessories like headgear, baseball caps and high-altitude jackets made of cotton textiles and leather, mainly for exports in 1996. Over the years, it has evolved into three business divisions – accessories, apparel and retailing which it calls ‘Rapid Retail’. The accessories division manufactures and exports leather bags, travel bags, school bags, wallets,...