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Limited room for growth of SMIDs

image for illustrative purpose

Limited room for growth of SMIDs
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19 Dec 2023 3:45 AM GMT

Soaring Valuations

  • Nifty Mid-cap Index P/E at 24.2x is almost at its 2017 peak at 24.5x
  • Nifty Small-cap Index P/E at 21.6x

New Delhi: The continued rally of the past three months has pushed the small-and mid-caps (SMIDs) five-year outperformance ahead of the 10-year outperformance, thereby closing the gap, Elara Securities said in a report. Hence, the room for further catchup outperformance is limited, in our view.

The Nifty Midcap Index P/E at 24.2x is almost at its 2017 peak at 24.5x. The Nifty Smallcap Index P/E at 21.6x has crossed the previous peaks in 2015 at 17.6x and 2017 at 18.3x.

Elara Securities SMIDs Nifty Smallcap 
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