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Mid-cap and Small-cap stocks in general have become more expensive after the recent runup. Many weak (low growth plus low quality) mid-caps and small-caps are in bubble zone and caution is advised, says Vinay Paharia, CIO, PGIM India Mutual . ....
Hospitality and travel-related stocks gave handsome returns to investors due to the strong rebound in discretionary spending, and RateGain Travel was one among them. ....
Vinay Paharia says: The share of financial savings in Indian household savings has been on the rise at the expense of physical assets over the past few years. This has been a key factor for the rise in DII inflows and this structural factor is expected to continue over the medium to longer term. FII flows, on the other hand, would be a function of multiple factors, including global interest rates, liquidity conditions and relative attractiveness of India versus other investment destinations. ....
Retail investors now own a bigger slice of smallcap companies than at the start of 2023-24 (FY24), underscoring their growing conviction about investing in this red-hot space.
Data from Capitaline shows mutual funds (MFs ) average holding in the National Stock Exchange Nifty Smallcap 250 rising to 9.26 per cent from 8.67 per cent during the first six months of FY24, with the number of companies with over 20 per cent MF holdings increasing from 24 to 28.
In comparison, MF holdings in Nifty50 companies have gone up only marginally, from 9.67 per cent to 9.75 per cent. ....