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231 smallcaps suffer double-digit losses as investors 'sell in May'. Will they come back in June? The stock market cliche of 'sell in May and go away' proved true this year amid general election uncertainties. Concerns over BJP's election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.
Small caps may be volatile, but they are also a key source of alpha in the Indian context
Phaneesh Murthy helped iGATE acquire Patni Computer Systems, former employer of Narayana Murthy.
Despite a flat performance over the last week, the Indian market has shown robust growth, soaring by 42% over the past year with earnings expected to grow by 17% annually. In such an optimistic environment, companies with high insider ownership can be particularly compelling as this often reflects confidence from those who know the business best.
Many other mid-cap IT firms are also eyeing an entry into the billion-dollar club in the coming quarters while the above-mentioned four are chasing the next target of $2 billion, industry observers said. Firms such as Happiest Minds Technologies, Cyient, ITC Infotech and Birlasoft announced their billion-dollar revenue target recently.