A security guard stands next to a statue of a bull outside the Bombay Stock Exchange. (Photographer: Dhiraj Singh/Bloomberg)
Analysts and market veterans expect India’s beaten-down small and midcap stocks to rebound after Prime Minister Narendra Modi’s return with a majority.While the Nifty 50 returned 12.5 percent gains in the last 12 months, the Nifty Midcap 100 and Smallcap 100 indices declined 5.4 percent and 16.2 percent, respectively during the period. Valuations in the broader markets also fell, and the midcap gauge is at its highest discount to the...