It may be early days yet but certainly some large companies are expressing concerns over the economy if the lockdown extends to 3 months. Kotak has warned about slippages rising sharply if the lockdown lasts longer. The bank does foresee a rise in consumer debt defaults if the lockdown continues. This could be credit negative for the banks and the NBFCs with a strong consumption franchise. L&T has also warned that the virtual halt in construction activity is likely to take a huge toll on the top line and the bottom line of L&T in the next 2-3 quarters. Sectors like banks, capital goods and autos are likely to be most impacted.