GLIN - SMIN: No Stopping The Boom In India's Smaller Caps

2024-06-17 09:15:47 ET

Summary

• India looks set for policy continuity in PM Modi’s third term.
• Relative to an exceptional macro/micro setup, valuations aren’t all that demanding here.
• Having outperformed through the last two terms, SMIN’s small/mid-caps should continue to do well.

Now that elections are done and dusted in India, investor focus should turn to policymaking in the ‘Modi 3.0’ regime. If the consistency of recent Cabinet appointments is any indication, policy continuity is likely on the cards – a key reason for India’s key equity indices notching record highs last week....

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