BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
The outperformance of mid-cap and small-cap indices have gone past their earlier benchmarks on multiple fronts – consecutive months of positive returns, 12-month rolling returns gap versus the Nifty, relative valuations, and contribution to overall market capitalisation.
There exists a sharp divergence in valuations within these indices, with the gap between the top and bottom quintile expanding.
While the mid-cap/small-cap valuations are rich and no longer lucrative on the risk-reward metric, the gradual unlocking of the economy and improved demand backdrop still offer bottom-up opportunities. Consistent earnings delivery versus expectations is critical for further outperformance in our view.
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