Wryght Research

For Q4FY24, there’s a notable divergence in performance across different sectors, with domestic cyclicals such as financials, industrials, and autos showing robust year-over-year net profit growth of 44%, translating to Rs 76,300 crore. This growth is particularly impressive compared to the relatively muted performance in defensive sectors like IT and consumer staples. Excluding the financial sector, profit after tax (PAT) growth is more subdued at 12% year-over-year.

Reflecting on the past year, it’s clear that the Indian market indices have navigated from a position of relative undervaluation to a phase of significant growth, particularly for the small-cap and mid-cap sectors. With small-caps delivering returns in the vicinity of 60% and mid-caps not far behind. Recent trends in the Indian equity markets underscore the shifting dynamics, with a marked departure from the bullish momentum that characterized the past year.

Reflecting on the past year, it’s clear that the Indian market indices have navigated from a position of relative undervaluation to a phase of significant growth, particularly for the small-cap and mid-cap sectors. With small-caps delivering returns in the vicinity of 60% and mid-caps not far behind. Recent trends in the Indian equity markets underscore the shifting dynamics, with a marked departure from the bullish momentum that characterized the past year.