India Valuations Handbook; Top Idea Picks For Large And Midcap Stocks: Motilal Oswal
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Motilal Oswal Report
The Nifty closed higher for the fifth straight month in September 2021. The index oscillated ~900 points before closing at 486 points (or 2.8%) higher month-on-month at 17,618.
The Nifty is up 26% in CY21-year-to-date.
Midcaps/smallcaps outperformed large caps by 4.1%/3.3% in September.
Foreign institutional investor inflows were robust at $1.1 billion. Domestic institutional investors saw inflows for the seventh consecutive month at $0.6 billion.
In the last 12 months, midcaps have risen 79% versus a 57% rise for the Nifty. In the last five years, midcaps have underperformed by 8%.
The Nifty midcap100 price/earnings now trades at a 10% premium to largecaps.
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