Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
ITC's net profit grew the fastest, followed by HUL and Asian Paints.
Now that everyone on the Dalal Street is 'revising' the target for the benchmark BSE-30 upwards, especially after a good Budget, the premise of the same has to be questioned.
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
Number of stocks trading above 50 times and 100 times earnings are at record highs. When this happened in 2015 and 2016, the Sensex fell 22.6 per cent in a little over a year's time after peaking in January 2015, while it fell by 11.3 per cent in two months from its peak in September 2016.
Investors need to understand and keep in mind how interest rates and the stock markets are related in order to make informed decisions.
The Indian indices also offer one of the lowest dividend yields.
HUL, ITC, Nestle, Colgate, Dabur, Britannia, Asian Paints, P&G are trading at nearly 48 times. The previous record high was 53 times at the end of March 1994.
Mahesh Nandurkar, executive director and India Strategist at CLSA, talks to Puneet Wadhwa ahead of their 21st India Forum on his interpretation of how the markets have played out over the past few months, the road ahead, and his sector preferences in this backdrop.
The gap between Nifty's price-earnings multiple and economic growth is at a 12-year high
Experts attribute the high valuation of Indian auto makers to the faster growth in India compared to the rest of the world.
'Focus on companies with healthy balance sheets and return ratios.'
Should you expect 15 per cent return over a period of 20 years? Dwaipayan Bose has the answer
Longest period of price-earnings expansion in the index since 1996
The industry employs about 10 million workforce.
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