India’s earnings season is throwing up big surprises and midcaps are emerging as the biggest winners on Dalal Street! JM Financial AMC CIO Satish Ramanathan says midcap companies have reported over 30% earnings growth so far, far ahead of large caps. Smallcaps too are posting strong double-digit growth, signalling a broader recovery in corporate India. Auto, auto ancillaries, small finance banks and chemical stocks are leading the charge this quarter. While oil marketing companies could still impact the final picture, the overall earnings momentum remains strong and healthy. JM AMC believes the Indian economy is in good shape despite global uncertainty, and patient investors could benefit from the ongoing turnaround in the broader market space.