Axis Securities’ small-cap top picks include Mahanagar Gas, Kirloskar Brothers, Sansera Engineering, and Kalpataru Projects. The brokerage noted September’s market volatility after a strong May–August 2025 rally. Despite GST 2.0 reforms providing a positive trigger, momentum faltered due to delayed impact, currency depreciation, inventory overhang, foreign institutional selling, and uncertainty in global policy, especially from the US.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets