Having surged substantially over the past year, stocks of companies in the railways space still have ample steam left to keep growing over the next few years - Issue Date: Dec 10, 2023
But in the smallcap category, one of the best-performing funds has been Aequitas Investments “India Opportunities”, giving more than 3% returns in September, and a staggering 82% over a 1-year period.
After such a massive run, either you should have a consolidation or a little bit of a dip. So, while long-term structural story looks good as far as India is concerned, short term I personally would be a little cautious in deploying fresh capital.
At some point in time, say a year back, some of these companies had more than 50% net cash on their balance sheet and they were available at three and four PE multiple.