After a disappointing run in FY19, most experts feel that the worst might be over for small and midcaps and investors can start accumulating quality stocks on declines.
Many retail investors lost their entire savings after investing in 'hot stocks'. While such stocks can be very rewarding, investors should remember the benefits of diversification.
We would like to highlight the management's penchant for innovation and hunger for growth, strong return ratios and prudent financial risk management
The party in the broader market space has been continuing for the last 5 years. The S&P BSE Sensex is trading at a PE of 106.89x and a price-to-book value of 2.42.
The market breadth was in favour of the advances on Thursday afternoon with 1114 stocks advancing as against 535 declines while 352 remained unchanged. On the other hand, 1742 stocks advanced and 886 stocks declined while 111 remained unchanged on the BSE.
There is a huge opportunity for stock pickers and smart entrepreneurs for the next two years but at the same time investors should remain conservative and be choosy.
The broader markets also ended higher with the BSE Midcap and Smallcap indices rising 0.3-0.4 percent.
BHEL, Tata Steel, Adani Ports, TCS and HUL were top gainers while Reliance, Bajaj Auto, Cipla, L&T and SBI were major losers.
The last session of fiscal 2013, which coincided with the expiry of March series, made a surprise U-turn towards the end of the trading day.