Smallcaps with double-digit returns turned multibaggers in Q1 2024, led by Waaree Renewable Technologies and Diamond Power Infrastructure. Despite caution due to SEBI warnings, experts like Rishabh Goel and Varun Saboo remain optimistic about smallcaps earnings growth potential.
Varun Saboo maintains optimism on real estate, smallcaps, and two-wheelers. Bullish on market dynamics. Textile sector anticipated to recover. Auto sales performance mixed. Caution advised in FMCG sector. Potential in Himadri Chemicals, Praveg for evaluation. Anad Rathi is assigning about 26-27 times multiple which is the middle of the range in which smallcap index trades. 22x to 29x is the range in which they have been trading.
National Buildings Construction Corporation (NBCC) shares surged 47% following the government s push for affordable housing in the interim Budget. Finance Minister Nirmala Sitharaman announced plans to build 2 crore more houses for the rural poor and a scheme to help the middle class buy or build their own houses. This announcement has boosted optimism in the real estate and allied sectors. NBCC has already been experiencing positive momentum and the government s emphasis on capex further supported the stock.
The view is that largecap pharma names like Lupin, DRL, Aurobindo, and Sun Pharma may continue to perform well this quarter. The US pharma companies and distributors have a positive outlook, despite price erosion. Sun Pharma s Taro business reported a healthy performance. The US market looks promising for these companies. As a house, we are focusing more on larger caps than midcaps in the current scenario.
India Business News: Stock market crash today: BSE Sensex and Nifty50, the Indian benchmark equity indices, which had a dream run in the last month of December, have been witnessing bouts of profit booking in the first month of 2024.