Selective FII buying seen in midcaps and smallcaps in manufacturing and allied businesses: Anand Shah

Anand Shah of ICICI Prudential AMC says midcaps and smallcaps are attractive due to their strong earnings and reasonable valuations. He notes that there is selective buying within these segments, particularly in manufacturing and allied businesses. Shah highlights the changing trend from 2020 to 2023, where B2C businesses are facing pressure while B2B businesses are performing well. He emphasizes the importance of manufacturing and allied businesses in the top 100 companies, which have shown incremental earnings growth and comfortable valuations.