Small Cap Stocks & Mid Cap Stocks Have Crashed, Is This A Best Time To Buy?

Every decade or so, the Indian market hands long-term investors a moment in small cap stocks and mid cap stocks that they will spend years wishing they had acted on. The 2003 bottom. The 2009 crash. The March 2020 lows. In hindsight, those moments looked obvious. In the middle of them, they felt like the beginning of something much worse.

Today, after a sharp correction in small cap stocks and mid cap stocks, investors are once again facing a similar moment. The question is whether this is another period of fear that will eventually be remembered as a significant long-term opportunity.

The Nifty Smallcap 100 has fallen over 23% from its December 2024 peak. More than 1,000 small-cap stocks are down 50% or more from their highs. The BSE Small Cap index hit 41,013 in April 2025 before recovering 35% through midyear. The correction has been real, it has been painful, and for most investors, it has been disorienting.

But disorientation and danger are not the same thing. This article examines whether the 2024–2025 small- and mid-cap crash is a structural breakdown or a setup.

What Caused the Crash?

1. Valuations ran ahead of earnings

The country added 70 million new demat accounts between 2022 and 2024. The forward P/E of the Nifty Midcap rose to 58% above the Nifty 50 as new money poured into small- and mid-cap stocks. It was clear the market would correct itself when earnings growth slowed from high 20s to single digits in 2025.

2. Foreign investors turned wary of emerging markets

By end-2025, their share of the NSE had fallen to its lowest level in 13-15 years, at 16.7-16.9%. Mid- and small caps bore much more of the selling pressure than large caps, as they had less money in the market. FII selling hit smaller stocks hardest. By the beginning of 2025, the 200-day moving average was below 70% of Nifty Midcap 150 and Small Cap 250 stocks.

3. Macro headwinds

Weaker nominal GDP growth and slower government spending hit smaller demand-driven businesses hardest. The Nifty 50 fell just about 2% in early 2025. Small- and mid-caps fell between 7 and 24%.

What Has Changed Since the Lows?

Valuations have normalized

In early 2025, the Nifty Midcap was worth 43 times its earnings. It’s back to around 33x after five years, by the end of 2025. The fluffy premium to large caps has mostly disappeared.

FIIs have been structurally replaced by DIIs 

By the end of 2025, domestic institutional investors held 18.3-19.2% in the stock, higher than foreign institutional investors for the first time. SIP flows remained unchanged during the correction. FII withdrawals don’t move the market like they used to.

The rate cut cycle has begun

Rate cuts began by the RBI in February 2025. By the middle of 2026, 125 bps of cuts had been made. In the past 25 years, every time the RBI cut rates by 100 basis points or more, small caps quickly recovered. In the 2008-2009 cycle, investors earned 99% in the first year, while in the 2019-2020 cycle, they earned 136%.

The rebound is on 

The Nifty Midcap 100 registered a fresh 52-week high in May 2026. It rose 2.2% month-on-month, while the Nifty 50 fell 2.6% in the same period.

What History Tells Us?

The correction cycle in India’s small- and mid-cap stock market is a regular one, and you need to study it rather than fear it.

Between 2018 and 2019, the BSE Mid-Cap fell 13 to 15%, and the Small-Cap fell 17 to 24%. From the March 2020 lows, small caps had a return of 118%, while the Nifty 50 had a return of 96%. The pattern was the same in 2013, 2018, and 2020: quality stocks fell first, institutions quietly bought shares, and momentum investors didn’t return until the recovery was well underway. 

Most recoveries take 3 to 6 months to get started and 12 to 24 months to finish. When the market is going down, how people feel affects small and mid-cap companies more. But when the market goes up, they can use their earnings to make a lot more money. 

A company worth ₹500 crore that grows by 25% earns percentage returns that a company worth ₹30 billion can’t match. During a correction, that unevenness doesn’t go away.

Why Select Optimism is a Good Idea in 2026?

Not every small cap will recover. A lot of risky stocks are down 70–90% and might never come back. But good companies with strong balance sheets, clear earnings visibility, and exposure to India’s structural growth themes are now available at prices that make sense.

A recovery is likely because interest rates have been lowered, which lowers the cost of capital for smaller businesses; the government is spending over a number of years on infrastructure and manufacturing through PLI and the National Infrastructure Pipeline; and India’s nominal GDP is expected to grow at a rate of 10–11% per year, which helps quality mid and small caps first.

The only real risk is that these stocks will fall more in a global risk-off because they don’t trade as often. It’s not possible to time the exact bottom.

What Should You Do?

Be selective, not speculative

Pay attention to businesses that have strong balance sheets, little debt, a good return on capital, and exposure to structural growth. The recovery won’t be the same for everyone.

Stagger your entry

Instead of trying to pick a single bottom, put money into the market in chunks over the next 4–6 months.

Think in cycles

In the past, mid- and small-cap stocks have done better than large-cap stocks for 18 to 24 months after a meaningful bottom. If you look out 3–5 years, the prices that are now seem much more appealing than they did 18 months ago.

Small Cap and Mid Cap Stocks to Watch Now in 2026

1. Embassy Development Limited

Embassy Development Limited (EMBDL)
Overview	Embassy Developments Limited is one of India’s leading real estate developers with a presence across residential, commercial and SEZ projects. Following the Embassy Group takeover and merger completion in 2025, the company has emerged as a significantly larger real estate platform with projects across Bengaluru, Mumbai Metropolitan Region (MMR), NCR and other key cities. The company has a portfolio of 36.6 million sq. ft., a land bank of over 3,100 acres and 37 projects across 8 cities.
Key Growth Drivers	Strong Launch Pipeline: Management has guided for projects with Gross Development Value (GDV) exceeding ₹22,000 crore over the coming years. Mumbai Expansion: Entry into Mumbai’s premium residential market through Worli, Juhu and Alibaug projects with planned investment of approximately ₹4,500 crore and expected GDV above ₹12,000 crore. Luxury Housing Demand: Rising wealth creation in India continues to support demand for premium and luxury residential projects. Improved Financial Profile: Revenue, EBITDA and profitability have improved significantly following restructuring and merger integration, while debt levels have reduced materially. Pre-Sales Momentum: The company is targeting ₹5,000–6,000 crore pre-sales over the next few years supported by multiple project launches.
Risks	Real estate demand slowdown due to higher interest rates. Project approval and execution delays. Construction material and labour cost inflation. High dependence on premium housing demand. Regulatory risks related to land acquisition, approvals and RERA compliance. Real estate sector cyclicality affecting sales velocity and cash flows.
Why Investors Are Watching It	Investors are closely tracking Embassy Developments because it represents a significant transformation story following the Embassy Group acquisition. The company is evolving into a large-scale residential and commercial platform with a strong Mumbai expansion strategy, a ₹22,000+ crore development pipeline, improving balance sheet metrics and accelerating pre-sales growth. Many market participants view it as a beneficiary of India’s premium housing demand, urbanisation trends and long-term infrastructure development cycle.

2. Gujarat Pipavav Limited

Gujarat Pipavav Port Limited (GPPL)
Overview	Gujarat Pipavav Port is India’s first private sector port and one of the country’s leading gateway ports for containers, dry bulk, liquid cargo and RoRo operations. The port benefits from strong connectivity to North and Western India and is backed by global logistics major APM Terminals, part of the Maersk Group.
Key Growth Drivers	₹17,000 Crore Expansion Plan: Planned investment to significantly increase container, dry bulk and liquid cargo handling capacity over the coming years. Growing EXIM Trade: Rising import-export activity and increasing logistics demand continue to support long-term cargo volume growth. Strong Financial Position: Healthy balance sheet, low debt levels and consistent dividend payouts provide financial stability. Improving Earnings: Q4 FY26 revenue increased 26% year-on-year while net profit grew 26.6%, reflecting strong operational performance. Strategic Location Advantage: Strong rail and road connectivity supports cargo movement across major industrial regions of India.
Risks	Global trade slowdown impacting cargo volumes. Shipping route disruptions and geopolitical uncertainties. Competition from major western coast ports such as Mundra Port and JNPA. Container volume volatility due to changing trade patterns. Dependence on global shipping and logistics cycles.
Why Investors Are Watching It	Investors are closely monitoring Gujarat Pipavav Port because it combines stable cash flows, attractive dividend potential and long-term infrastructure expansion opportunities. The proposed ₹17,000 crore capacity expansion could substantially increase cargo throughput, operational efficiency and earnings potential over the coming decade. The company is also viewed as a beneficiary of India’s growing trade volumes, logistics modernisation and port infrastructure development.

3. Tanla Platforms

Tanla Platforms Limited
Overview	Tanla Platforms is India’s leading CPaaS (Communication Platform as a Service) company, enabling enterprises to communicate with customers through SMS, WhatsApp, RCS, voice and AI-powered messaging solutions. The company plays a critical role in India’s digital communication infrastructure and serves leading enterprises, telecom operators and digital businesses.
Key Growth Drivers	Enterprise Messaging Growth: Rising adoption of digital communication channels across banking, e-commerce, fintech and consumer businesses continues to drive messaging volumes. AI-Powered Customer Engagement: Growing demand for AI-driven conversational messaging, automation and customer engagement platforms is creating new revenue opportunities. Strong Financial Performance: FY26 revenue increased 9.7% year-on-year while the company maintained strong free cash flow generation and profitability. Wisely Platform Expansion: Increasing adoption of trusted digital communication platforms such as Wisely is strengthening Tanla’s ecosystem and enterprise relationships. Digital Transformation Tailwinds: Businesses are increasingly shifting toward omnichannel customer communication and digital engagement solutions.
Risks	Pricing pressure within the enterprise messaging business. Dependence on telecom regulations and industry policies. Client concentration risk from large enterprise customers. Technology disruption and increasing competitive intensity. Potential changes in communication protocols and platform ecosystems.
Why Investors Are Watching It	Investors view Tanla Platforms as a key beneficiary of India’s growing digital communication ecosystem. Strong cash generation, expanding AI-powered offerings, increasing enterprise messaging adoption and continued digital transformation across industries position the company as a long-term play on customer engagement technology and communication infrastructure.

4. Transformers & Rectifiers (India) Ltd

Transformers and Rectifiers (India) Limited (TARIL)
Overview	Transformers and Rectifiers (India) Limited (TARIL) is among India’s largest power transformer manufacturers, supplying utilities, renewable energy developers, industrial customers and power transmission projects. The company plays a critical role in India’s power infrastructure ecosystem and benefits from increasing investments in transmission, distribution and renewable energy integration.
Key Growth Drivers	Power Transmission Expansion: Massive investments in India’s power transmission network are driving demand for transformers and grid equipment. Renewable Energy Growth: Rising solar, wind and hybrid energy projects require large-scale transmission and evacuation infrastructure. Data Centre Demand: Increasing investments in data centres and digital infrastructure are creating additional demand for power equipment. Strong Revenue Growth: FY26 revenue increased 24.2% year-on-year, reflecting strong industry demand and execution momentum. Energy Transition Tailwinds: India’s focus on grid modernisation, electrification and clean energy continues to support long-term growth opportunities.
Risks	Execution risks associated with large infrastructure projects. Raw material price volatility, particularly copper and CRGO steel. Working capital intensity and cash flow management challenges. Cyclical profitability linked to infrastructure spending cycles. Project delays and customer payment risks.
Why Investors Are Watching It	Investors are closely monitoring TARIL because India’s power infrastructure cycle is currently one of the strongest structural growth themes. Rising investments in transmission networks, renewable energy integration, data centres and grid modernisation are expected to drive sustained demand for transformers and related equipment. Many market participants view TARIL as a direct beneficiary of India’s long-term energy transition and infrastructure expansion story.

5. Lloyds Enterprises

Lloyds Enterprises Limited
Overview	Lloyds Enterprises Limited is part of the Lloyds Group and has interests spanning steel, engineering, trading and infrastructure-linked businesses. The company has increasingly attracted investor attention as a potential beneficiary of India’s manufacturing expansion, infrastructure development and capital expenditure cycle.
Key Growth Drivers	Infrastructure Spending: Rising government investments in roads, railways, urban infrastructure and industrial projects continue to create opportunities for engineering and industrial businesses. Manufacturing Expansion: India’s push towards domestic manufacturing and industrial development supports long-term growth prospects. Group Synergies: Strategic alignment with Lloyds Group’s steel and engineering operations may provide operational and business advantages. Value Unlocking Opportunities: Diversified business interests and potential expansion initiatives could contribute to future earnings growth. Capex Cycle Exposure: The company stands to benefit from increasing private and public sector capital expenditure across industries.
Risks	Commodity price volatility impacting profitability. Cyclical industrial and manufacturing demand. Execution risks associated with expansion and project implementation. Capital allocation and business diversification risks. Earnings sensitivity to broader economic growth conditions.
Why Investors Are Watching It	Investors are tracking Lloyds Enterprises as a small-cap industrial and infrastructure-linked opportunity that could benefit from India’s ongoing manufacturing growth, infrastructure investments and capex cycle. Market participants are particularly focused on the company’s ability to leverage group synergies, improve operational performance and capitalize on long-term industrial expansion trends.

6. EPL Limited

EPL Limited
Overview	EPL Limited is the world’s largest specialty packaging company focused on laminated tubes used across oral care, cosmetics, pharmaceuticals, food and FMCG products. The company serves several leading global consumer brands and has a strong international manufacturing and distribution footprint spanning multiple countries.
Key Growth Drivers	Premium Packaging Demand: Rising demand for high-quality and visually differentiated packaging solutions across consumer product categories. Beauty & Personal Care Growth: Increasing consumption of cosmetics, skincare and personal care products supports long-term volume growth. Pharmaceutical Packaging Expansion: Growing healthcare and pharmaceutical demand continues to drive packaging requirements globally. Sustainable Packaging Innovations: Investments in recyclable, eco-friendly and sustainable packaging solutions create new growth opportunities. Emerging Market Penetration: Expanding presence across developing markets offers additional volume and revenue growth potential.
Risks	Raw material price inflation affecting profit margins. Currency fluctuations impacting global operations and earnings. Demand slowdown in consumer products and FMCG segments. Margin pressure from rising input and logistics costs. Intense competition within the global packaging industry.
Why Investors Are Watching It	Investors are closely monitoring EPL Limited because it offers a relatively defensive business model with exposure to global consumer brands, stable cash flow generation and recurring demand across essential product categories. The company’s leadership position in specialty packaging, sustainability-focused innovations and expansion in beauty, pharma and personal care segments continue to support long-term growth expectations.

7. CarTrade Tech

CarTrade Tech Limited
Overview	CarTrade Tech Limited operates one of India’s leading digital automotive ecosystems through platforms including CarWale, BikeWale, Shriram Automall and OLX India’s automotive business. The company connects buyers, sellers, dealers, OEMs and financial institutions across new vehicles, used vehicles, auctions and automotive classifieds.
Key Growth Drivers	Online Vehicle Transactions: Growing consumer preference for digital vehicle discovery and transactions continues to increase platform engagement. Used Vehicle Market Expansion: India’s large and underpenetrated used vehicle market offers significant long-term growth opportunities. Dealer Subscription Growth: Increasing adoption of digital tools by automobile dealers supports recurring revenue growth. Auction Volume Growth: Rising demand for vehicle auctions and remarketing services strengthens transaction volumes. Automotive Retail Digitalisation: Continued shift toward online vehicle research, comparison and purchasing supports platform monetisation.
Risks	Slowdown in automobile sales impacting platform activity. Competition from online automotive marketplaces and classified platforms. Dependence on advertising revenues and transaction volumes. Technology disruption and changing consumer preferences. Economic slowdowns affecting vehicle purchases and dealer spending.
Why Investors Are Watching It	Investors are closely tracking CarTrade Tech as a digital platform play on India’s rapidly growing automotive ecosystem. The company benefits from increasing online vehicle transactions, rising used vehicle adoption, expanding dealer participation and long-term digitalisation trends across automotive retail. Many investors view CarTrade as a scalable asset-light business positioned to benefit from India’s evolving mobility and automotive commerce landscape.

8. Krsnaa Diagnostics

Krsnaa Diagnostics Limited
Overview	Krsnaa Diagnostics Limited is one of India’s leading diagnostic service providers, offering radiology, pathology and tele-radiology services through a combination of public-private partnership (PPP) healthcare projects and private healthcare initiatives. The company focuses on delivering affordable and accessible diagnostic services across urban and underserved regions of India.
Key Growth Drivers	Government Healthcare Expansion: Increasing healthcare spending and public healthcare initiatives continue to drive demand for affordable diagnostic services. Growing Diagnostic Demand: Rising healthcare awareness and preventive healthcare adoption are boosting diagnostic testing volumes across India. Tier-2 & Tier-3 Market Penetration: Expanding healthcare infrastructure in smaller cities creates long-term growth opportunities. PPP Project Wins: New public-private partnership contracts can significantly expand the company’s service network and revenue base. Asset-Light Business Model: The company’s scalable operating structure supports profitability and efficient capital deployment.
Risks	Government payment delays impacting cash flows. Tender renewal and contract-related risks. Regulatory changes within the healthcare sector. Competitive pressure from diagnostic chains and regional players. Execution risks associated with large-scale healthcare projects.
Why Investors Are Watching It	Investors are closely monitoring Krsnaa Diagnostics because of its strong positioning within India’s expanding healthcare ecosystem. Rising healthcare awareness, growing demand for diagnostic services, increasing government healthcare spending and expansion into underserved regions position the company as a long-term structural healthcare growth story. Its PPP-led model also provides exposure to India’s healthcare infrastructure development initiatives.

9. Aptus Value Housing Finance

Aptus Value Housing Finance India Limited
Overview	Aptus Value Housing Finance India Limited is a leading housing finance company focused on serving self-employed and low-to-middle income borrowers across semi-urban and rural India. The company specializes in affordable housing finance and has built a strong presence in underpenetrated markets where access to formal credit remains limited.
Key Growth Drivers	Affordable Housing Demand: Rising home ownership aspirations and government support for affordable housing continue to drive long-term demand. Expansion into Underpenetrated Markets: Significant growth opportunities exist across semi-urban and rural regions with low housing finance penetration. Strong Asset Quality: Consistently healthy asset quality metrics and efficient collection practices support profitability and stability. Growing Housing Finance Penetration: Increasing access to formal credit and financial inclusion initiatives create long-term growth potential. Scalable Business Model: A focused lending approach and localized customer relationships enable sustainable expansion.
Risks	Interest rate fluctuations affecting borrowing costs and margins. Credit quality deterioration during economic slowdowns. Regulatory changes impacting housing finance companies. Competition from banks, NBFCs and other housing finance providers. Geographic concentration risks in key operating markets.
Why Investors Are Watching It	Investors closely follow Aptus Housing Finance because of its high-return business model, strong asset quality, disciplined underwriting practices and long runway for growth in India’s affordable housing segment. The company is viewed as a beneficiary of rising financial inclusion, increasing home ownership demand and expanding housing finance penetration across semi-urban and rural India.

10. Axiscades Technologies

Axiscades Technologies Limited
Overview	Axiscades Technologies Limited is a leading engineering research and development (ER&D) and technology solutions company serving industries such as aerospace, defence, automotive, energy, heavy engineering and electronics. The company provides product engineering, embedded systems, digital transformation and design-led technology services to global enterprises.
Key Growth Drivers	Defence Manufacturing Growth: India’s increasing focus on defence indigenisation and domestic manufacturing continues to create significant opportunities. Aerospace Outsourcing: Global aerospace companies are increasingly outsourcing engineering and design work, supporting long-term demand. Digital Engineering Adoption: Growing investments in engineering digital transformation, automation and Industry 4.0 initiatives are driving new project opportunities. Embedded & Electronics Engineering: Rising demand for embedded systems, electronics design and smart technologies is expanding the addressable market. Global ER&D Spending: Increasing research and development investments by global manufacturers support sustained growth prospects.
Risks	Client concentration and dependence on large contracts. Global economic slowdown impacting engineering and R&D spending. Currency fluctuations affecting international revenues. Margin pressure from wage inflation and talent costs. Project execution and delivery-related risks.
Why Investors Are Watching It	Investors are closely tracking Axiscades Technologies due to India’s defence manufacturing push, expanding aerospace outsourcing opportunities and increasing global demand for engineering R&D services. The company is viewed as a beneficiary of long-term trends in digital engineering, embedded systems, defence technology and product development outsourcing, making it an attractive play on the growing ER&D industry.

Top Brokerage Small Cap Stock Picks Watchlist

Stock	Stock Overview	Key Growth Drivers	Key Risks	Why Investors Are Watching
Minda Corporation	Auto component company focused on safety systems, wiring harnesses, die-casting and EV-linked products.	EV adoption, OEM recovery, export growth, new order wins and margin expansion.	Auto cycle slowdown, commodity inflation, OEM pricing pressure.	Growing electronics content in vehicles and India’s EV transition.
Navin Fluorine International	Specialty fluorochemicals company with exposure to HPP, specialty chemicals and CDMO.	Capacity expansion, specialty chemicals demand, pricing power and export opportunities.	Raw material volatility, regulatory risks and export demand slowdown.	High-margin specialty chemical demand and future capacity additions.
Chalet Hotels	Premium hospitality and commercial real estate company.	Domestic travel demand, MICE growth, room rate expansion and annuity income.	Weak travel demand, occupancy pressure and higher interest rates.	Business travel recovery and premium hospitality growth.
Ujjivan Small Finance Bank	Retail-focused small finance bank with microfinance and secured lending operations.	Deposit growth, secured lending expansion and loan book growth.	Asset quality deterioration, microfinance stress and competition.	Improving loan mix and retail banking growth.
NBCC (India)	Government-owned project management and redevelopment company.	Strong order book, infrastructure spending and government projects.	Execution delays, receivable risks and project approvals.	Infrastructure execution and redevelopment opportunities.
Sagility	Healthcare-focused BPM and IT services provider.	Healthcare outsourcing demand, operational scale and technical momentum.	High volatility, liquidity concerns and promoter overhang.	Healthcare outsourcing growth and short-term momentum setup.
Allied Blenders & Distillers	Indian spirits company with increasing premium liquor exposure.	Premiumisation, exports, backward integration and margin expansion.	Excise policy changes, taxation risks and input costs.	Premium spirits demand and profitability improvement.

Top Brokerage Mid Cap Stock Picks Watchlist

Stock	Stock Overview	Key Growth Drivers	Key Risks	Why Investors Are Watching
Eternal Ltd	India’s largest food delivery and quick-commerce platform, formerly known as Zomato.	Food delivery GMV growth, Blinkit expansion, advertising revenue, subscription monetisation and operating leverage.	Discounting wars, regulatory risks, Blinkit profitability concerns and valuation sensitivity.	Investors are watching quick-commerce expansion, improving unit economics and institutional buying interest.
Dalmia Bharat Ltd	Major Indian cement manufacturer with strong presence in East and North-East India.	Capacity expansion, infrastructure demand, low leverage, housing growth and cost optimisation.	Input cost inflation, fuel costs, cement pricing competition and infrastructure delays.	Investors see it as a play on India’s infrastructure and housing cycle.
Zen Technologies Ltd	Defence simulation and anti-drone systems manufacturer.	Strong defence order book, Make in India tailwinds, export traction and product innovation.	Lumpy revenue recognition, project execution delays, valuation premium and MoD timeline dependency.	Investors are tracking its order book conversion and defence indigenisation opportunity.
Action Construction Equipment	Indian construction equipment manufacturer focused on cranes, material handling and agri equipment.	Infrastructure demand, construction activity, product diversification, margin expansion and defence opportunities.	Construction equipment demand softness, market share pressure, commodity swings and cyclicality.	Investors are watching infrastructure demand revival and margin sustainability.
Indo Count Industries Ltd	India’s largest home textile exporter with global retail exposure.	Global inventory restocking, China+1 sourcing, export demand recovery and capacity expansion.	US/EU slowdown, cotton price volatility, currency fluctuation and trade disruptions.	Investors are watching textile cycle recovery and global export demand improvement.
Engineers India Ltd	Government-owned engineering consultancy and EPC company.	Refinery expansion, petrochemical capex, green hydrogen projects and oil & gas infrastructure spending.	Project execution delays, PSU limitations, competitive bidding and government capex dependence.	Investors are watching it as an energy infrastructure and green hydrogen capex play.

The Bigger Picture

In the long term, India’s path has not changed. The price investors were willing to pay for it changed from 2024 to 2025. That price has now been reset, not to stress but to common sense.

People who are investing now are not the ones who will be happy looking back on this time. Those people focused on the basics and let time add up their gains.

Investing in Small & Mid-Caps Requires the Right Intelligence

During a recovery, it’s not as easy as it seems to pick the right small and mid-cap stocks. Not enough research has been done on these companies, and it’s not always easy to tell the difference between a good compounder and a value trap.

Jarvis Invest, a SEBI Registered Investment Advisor, uses AI to constantly look at thousands of small cap stocks and mid cap companies. It does this work by monitoring risk signals, sector tailwinds, and the strength of these companies’ balance sheets. This way, you can act on the fundamentals instead of the noise. Take a look at the Jarvis Portfolio here.