Foreign investment surge fuels spectacular rally in India’s smallcaps amid bubble alerts
MUMBAI:Small-cap stocks had a spectacular rally the previous fiscal year, much of it driven by foreign portfolio investors (FPIs) betting on smaller Indian companies even as the surge sparked fears of a bubble caused in part by some murky transactions. In the financial year 2023-24 (FY24), about 35% of the total ₹2.08 trillion of FPI