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Earlier instances of bull markets in broader equities have seen microcap earnings yield spread over largecaps drop to near-zero versus current spread of 150-200 bps
ICICI Securities has flagged 12 counters from the microcap universe of 80 stocks that offer viable investment options with cheaper valuations and scope for expansion in risk tolerance. The brokerage firm's report, however, cautioned investors about the liquidity risks in the microcap space. Stocks picked by ICICI Securities include Wonderla Holidays, Somany Ceramics, Greenpanel, Sansera Engineering, Isgec Heavy Engineering, Fusion Micro Finance, Repco Home Finance and Tatva Chintan. The minimum quality standards include the RoE being upwards of 10% and the earnings yield being greater than the...
"After three years of high returns, investors need to be cautious. They need to have a five-year view and should only invest in a staggered manner using the SIP route," said Abhay Mathure, a Mumbai-based mutual fund distributor.
By 9.30 am, all sectors turned green, as the Nifty Metal index gained 0.97 per cent, and the realty index jumped 0.96 per cent.