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Sep-11<br />
Mar-12<br />
Sep-12<br />
Mar-13<br />
Sep-13<br />
Mar-14<br />
Sep-14<br />
Mar-15<br />
Sep-15<br />
Mar-16<br />
Sep-16<br />
Mar-17<br />
Sep-17<br />
Mar-18<br />
Sep-18<br />
Midcap Valuations Now Approaching Parity with Large<br />
Caps<br />
12 Month Forward PE<br />
30<br />
25<br />
(x)<br />
NIFTY Midcap 100 Nifty 50<br />
20<br />
18<br />
15<br />
17<br />
10<br />
5<br />
Source: Axis Capital, As on 28 th Sept, <strong>2018</strong><br />
39
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