Solid buy ideas: Midcaps with potential to double in 5 years
Axis Capital has selected 11 midcaps which have the potential to double in 5 years.
Updated: Nov 07, 2019, 08.12 AM IST
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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