 "sebi")
It’s better to be vaguely right than exactly wrong — Carveth Read
Small capitalisation (cap) and mid-cap stocks have appreciated by more than 60 per cent over the last year in India. Is this a bubble? If yes, what can the Securities and Exchange Board of India (Sebi) do, given its mandate? Relatedly, what should be its mandate?
While a stock price index is quite unpredictable, the same is, by and large, not quite true as far as the aggregate valuations are concerned. Valuation indicators such as price-to-earnings ratio (P/E), price-to-book ratio, dividend yield, ratio of market cap of small caps to
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