"Between September '21 and March '22, the index was in the same range as the largecaps. But the smallcaps, which peaked out in January ‘22, got really hammered out and it is more of a mean reversal and catching up in the past two or three months. We expect that from here on, while Nifty might go another 25-30% odd in the next two or three years, the small and midcaps will probably deliver much more than that."