Large, mid, small cap ka matlab, aur EV market cap se behtar kyun hai
Published by The Retail Trader · AUG 09, 2026 · Features
'Company ki value kitni hai' — is sawaal ka sabse aam jawab market cap hai, aur wo adhoora hai. Poora jawab enterprise value deta hai, aur uska logic ek ghar kharidne jaisa hai.
Market cap matlab share price guna total shares. Ye batata hai ki market company ke equity ko kya keemat de raha hai.
Isi ke aadhar par companies large, mid aur small cap mein baanti jaati hain. Ye categories SEBI ke rules se, market cap ke ranking ke hisaab se tay hoti hain aur samay-samay par revise hoti hain.
Mota farq:
• Large cap — zyada liquid, zyada research, kam volatile. Girawat mein bhi bech paana aasan.
• Mid cap — growth aur risk dono zyada. Institutional participation kam, isliye moves tez.
• Small cap — sabse zyada volatile, sabse kam liquid. Girawat mein aksar kharidaar hi nahi milta, aur circuit lag jaata hai.
• Liquidity hi asli farq hai. Return ka farq to baad mein pata chalta hai; nikal paane ka farq usi din pata chal jaata hai.
Maan lo aap ek ghar kharid rahe ho jispar pehle se loan hai. Aapko sirf maalik ko di jaane wali keemat nahi dekhni — loan bhi to aapke sar aayega. Aur agar ghar ke andar cash pada ho, to wo aapko wapas mil jaayega.
Enterprise value yahi karta hai: market cap mein debt jodo, cash ghata do. Isliye do companies ka market cap barabar ho sakta hai par unki asli keemat bahut alag.
Jahan bhi debt bada hai, wahan EV ke bina tulna galat hoti hai. Isi wajah se valuation mein EV/EBITDA jaise ratios istemal hote hain — dono taraf ka hisaab capital structure ko shaamil karke.
Ek cash-rich company ka PE mehnga dikh sakta hai jabki uska EV ke hisaab se business sasta ho — kyunki uski keemat ka ek hissa to bas cash hai.
Market cap batata hai ki shareholders ke hisse ka bhaav kya hai. Enterprise value batata hai ki poore business ko kharidne mein kya lagega. Doosra sawaal lagbhag hamesha zyada kaam ka hota hai.
Ye article sirf educational hai — koi buy ya sell recommendation nahi, koi guaranteed return ka daawa nahi, aur koi advisory nahi. Rules, rates aur mechanics exchange, SEBI aur RBI time-time par badalte hain, isliye har number apne broker ya official source par khud verify karo.