“We still see good opportunities in the mid-cap space. The NSE midcap index 10 yr average PE has been about 30x and 5yr average is 36x. Currently, it is trading at 21x. If midcaps were to get re-rated at 5 yr average PE, then there is a good 33% upside. With earnings growth over, we will see huge wealth creation in this space over the next 5 years.”
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