Newsletter January, 2024

Nifty small cap 250 has rallied by 43% in the FYTD24 vs 38% rally for Nifty 100 and resultantly the FY25 PE ratio is now at 27.4x for Nifty small cap 250 vs 20.7x for Nifty 100. As compared to five year average the Nifty small cap 250 trades at a premium of 46% compared to Nifty 100 five year average. Resultantly the 251st company market cap has increased from Rs90bn in FY19 to Rs158bn in FY23 and Rs256bn in Nov’23.