What is the newfound craze for capital markets among students these days? It is one of the most boring, monotonous, repetitive, dull, and comparatively less paid practice areas in the Indian context.
All that you do all day is sit in front of the screen, and format paras on Word. There is very little growth. Unless SEBI prescribes a framework for overseas listing of indian companies there is hardly anything that's going to change the dullness of this practice area.

I would advise students to focus on TMT, IP, Disputes, Projects & Infra, VC/PE. These practice areas should be getting more interest from students. The knowledge you are going to gain is unparalleled.

What about M&A, B&F and Competition Law?

M&A is actually much better. Caps Market gets repetitive after a certain point and people stop seeing any point and lose interest. You need to love what you're doing. Caps Market may seem very attractive from the outside but once you intern and start working you will see how mechanical and dull it is. This is why I have expanded to other areas.
B&F has a lot of scope. Competition law is-- meh.

I think they just love the term 'Caps Marks'. Sounds so much cooler. The practice has had a very successful PR campaign. I would advise other practices to have similar exercises. Bring over the 'BankFin', 'CompLaw', 'RealEs', 'EmpLaw' and 'DispRes' brigades. Sorry Tax and IP....you guys have to dig deeper.

CM is slow death. Leave ASAP! Those of you who aren't in deep, GTFO! Don't be dumb. Only the T4 College Lads should go there and that too ONLY if you don't have an option! All the Best!