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Most market experts are bullish on the midcap and smallcap segments, and believe there are several pockets within them that are strong investment candidates. Experts see the broader market outperforming largecaps over the next one year, even as they see Nifty and Sensex testing new highs by the next Diwali.

“Happiest Minds growth for the current quarter, has been comparatively good and on a standalone basis, it is 5.7% growth in constant currency, 5% in dollar terms and 8% in rupee terms. That is testimony to the strong sales engine and the demand situation that we have seen until now.”

It said that toll collections have witnessed pre-Covid-19 levels across almost all BOT (Build-Operate-Transfer) assets, with a meaningful pick-up in economic activity across the country.

On the technical charts, the RSI of the stock stood at 28.34.

“The Indian economy should do extremely well for the next 5, 10, 20 years, says the former CIO of HDFC AMC. The 3P Investment Managers that he is setting up involves prudence on part of investment manager, patience on the part of the investors and distributors, all hopefully leading to performance.”

Even the worst performer in the pack - Adani Ports and SEZ - gave a double-digit return of nearly 13% and ended up being an outperformer. Headline indices Sensex and Nifty, on the other hand, have lost over 1% of their value since last Diwali celebrated on November 4, 2021.

The brokerage firm is expecting a profit-after-tax (PAT) of Rs 300 crore, up 32.6% on a yearly basis, whereas pre-provisioning operating profit (PPOP) is pegged at Rs 580 crore, registering a 14.7% decline.

Nifty PSU Bank index hit an all-time high of 3,313, surging 3.11% in today’s intraday trade

The 30-share Sensex ended 95.71 points higher at 59,203, while its broader peer Nifty50 ended above the 17,550 level.

“When the tide is up, all boats rise and for the banking sector and for the finance sector, the tide is coming almost three years after the IL&FS fiasco happened. It has taken three-four years for the system to clean up, over leverage to go down and most banks to get their capital back. This is just the start of the whole rally. The tide is strong and there is demand in the sector. The rerating should continue.”