The relentless investments by domestic investors have resulted in an unprecedented rally in smallcap stocks. However, some of these stocks are still trading below their 5-year average price-to-earnings ratio (P/E). Analyzing the valuation, we have shortlisted 10 multibaggers that are worth considering. Neuland Laboratories, Quick Heal Technologies, Welspun Enterprises, PTC India Financial Services, ITD Cementation India, Responsive Industries, Indraprastha Medical Corporation, Anant Raj Ltd, Capacit’e Infraprojects, and Mishtann Foods are the 10 shortlisted stocks with an annual turnover of over Rs 100 crore. This article provides insights into the financial performance of each of these stocks and the outlook for smallcap stocks in 2024.
Sundram Fasteners Ltd has reported a standalone profit of Rs 117.93 crore for the July-September 2023 quarter, compared to Rs 111.75 crore in the same quarter last year. The company also declared an interim dividend of Rs 2.68 per share. Read on for more details.
The outstanding stock of central government bonds in India has crossed the ₹100-lakh-crore mark, reflecting the increase in government borrowing since 2020. The surge in borrowing is attributed to the Covid crisis and efforts to stimulate the economy through state spending. While the Centre aims to reduce fiscal deficit, previous bond redemptions are expected to keep gross borrowing elevated. In the current fiscal year, government bonds worth ₹3.86 lakh crore are set to mature, highlighting the government’s high borrowing programme.
The Indian government is buying lentils from Canada to stabilize prices and build buffer stocks, despite worsening diplomatic ties. The National Cooperative Consumers’ Federation of India Ltd and National Agricultural Cooperative Marketing Federation of India have issued tenders to procure lentils. Lentils will need to meet specifications of the Food Safety and Standards Authority of India. Erratic monsoons have caused a drop in lentil acreage, leading to higher prices. tensions arose after Canadian PM Trudeau made allegations about Indian government agents involved in the murder of a separatist leader.
The Indian government plans to borrow ₹6.55 lakh crore in the second half of the financial year, remaining on track with its budget estimate. The borrowing will include a new 50-year security for the first time, and ₹20,000 crore will be raised through sovereign green bonds. Analysts believe this adherence to borrowing plans demonstrates fiscal prudence and should calm market nerves.
