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Midcaps with potential to double in 5 years

On PE metric, midcaps' discount to large caps is now at a 7-year high. On priceto-book, midcaps discount to large caps is now at its 10-year mean.

ET Bureau|
Last Updated: Nov 07, 2019, 08.12 AM IST
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On PE metric, midcaps' discount to large caps is now at a 7-year high.
After outperforming large caps significantly between March ’15 and August ’18, midcaps have corrected sharply in the last one year. Midcap valuations are now closer to pre-FY14 levels. On PE metric, midcaps' discount to large caps is now at a 7-year high. On priceto-book, midcaps discount to large caps is now at its 10-year mean. Axis Capital has selected 11 midcaps which have the potential to double in 5 years. These stocks were selected based on their size, quality and how their businesses are likely to grow under normalised conditions when growth is likely to pick up in FY20-24.
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