Bajaj Financial Services Investment President Lakshmi Iyer stated that oil prices need to stabilize below $100 for the Indian stock market to regain its upward momentum; currently, small-cap stocks have already taken the lead in strengthening and entered a bull market. Iyer commented, "Crude oil remains the most unpredictable variable in the market, sometimes taking center stage, but more often, it is displaying a negative, drag-inducing side." Iyer warned that excessive optimism has already appeared in Indian small-cap stocks, and subsequent market performance will be characterized by differentiation among individual stocks. She also pointed out that, influenced by the situation in Iran, analysts' forecasts of 15%–16% profit growth for Indian companies are unrealistic; this quarter will become a severe test for corporate profits and could even trigger a market correction.