Even after the recent declines, India remains the second-most expensive country after the US with the Price to Earnings (PE) ratio — a popular valuation measure — at 20.97 times compared with nearly 10 times of Chinese stocks.
The brokerage said it cut its FY25 Profit after Tax (PAT) estimates by 22% due to this ₹6.74 billion reversal. It also slashed the FY26
The borrowing is against the group’s 9.2% stake in Tata Sons held via Sterling Investment, all shares in its real estate company, Shapoorji Pallonji Real
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