Pricey Dalal Street begins to shed some froth

January 19, 2023

India’s P/E contracted by around 5% from the peak of 19.9 times at the beginning of the year as stock prices remained subdued across some of the key sectors, reflecting an uncertain demand environment though the 12-month forward earnings per share (EPS) showed improvement. The P/E contraction was higher in steel, energy, pharma and IT sectors.

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