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.
The stock market snapped a 7-day winning streak, with the Sensex falling over 100 points and Nifty50 closing above 20,900 levels. Utilities, power, consumer durables, and oil & gas stocks saw buying, while FMCG, metal, and IT stocks saw selling pressure. Tata Power, MRF, and Bajaj Holdings hit fresh all-time highs. Stock analysis and breakout recommendations for these stocks are discussed by an expert analyst.
