New Delhi, Aug. 6 -- Shankar Sharma, veteran market investor and GQuant founder, expressed caution over the rising enthusiasm for Indian banks and non-banking financial companies (NBFCs), warning investors to consider the macro cycle before chasing these financial stocks.

While the Indian bank stocks have remained the apple of investors' eyes - not just retail but also institutional - over a long period of time, Shankar Sharma hints that now may not be the time to invest in them.

In a social media post on X, Shankar Sharma noted that while he has never owned a single bank or NBFC stock - with the lone exception of HDFC Bank - he explained what makes them attractive at certain points in the economic cycle.

"Leveraged financials are gene...