Standard Chartered sees upside in some Indian stocks in which bad news has had a "disproportionate impact".
StanChart identifies potential gainers as: ACC and Ambuja Cements ; mobile operators Bharti Airtel and Idea Cellular ; gas utilities Petronet LNG and GAIL ; road builder IRB Infrastructure ; and tyre maker Apollo Tyres .
By contrast, drug makers Sun Pharmaceutical Industries and Cipla have not priced in enough of the potential impact from the government's move to more closely regulate drug pricing.
"The current despair" over governmental and institutional decision making has led to "irrational fears" and/or "stocks being pummelled multiple times for the same news," StanChart says.
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