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The Nifty SmallCap 100 is trading at a high P/B value of 6.7, and at least 128 smallcap multibaggers are trading above their 5-year average PE level. Companies in sectors like chemicals, consumer durables, energy, IT, and BFSI are overheated. The recent Q3 earnings season has added to concerns about expensive valuations for PSU railways, defence, and power stocks.
PlastFocus 2024 hosts over 1200 stalls from 18 countries
PlastFocus 2024 to open doors on 1 February
According to the stock exchange circular issued on Thursday, stocks such as Rajoo Engineers, Brand Concepts, Modern Insulators, BPL, Mirc Electronics, Shreyans Industries and Aban Offshore, among others, are included in the list of stocks that will no longer be subject to the ESM framework.
Other stocks shifted out of the ESM framework include Rudra Global Infra Product, GP Petroleum, Kanoria Energy, Signet Industries, Bemco Hydraulics, Samrat Forgings and Amba Enterprises.