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Seeking value in this market? Porinju Veliyath on where to look
Porinju Veliyath sees value emerging in small and midcap companies amidst an economic upcycle, anticipating sustained growth opportunities driven by structural changes, government support for manufacturing, and the expansion of the capital market and investing habits. He says at around 25-26 PE, these small and midcaps are definitely expensive. But we cannot talk about the historic PE of 10, 12, and 15 for these companies because their future trajectory has changed significantly.