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Indian large caps cut share trading above 80x earnings

The proportion of large caps valued above 80 times earnings fell to 21.3% from 31.9%, a 10.6 percentage point drop since September 2024.

Reported · Written up by our desk · Indices

LiveMint Markets reports that, two years after Indian equities scaled their peak in September 2024, valuation levels have eased for large caps, while midcaps remain more concentrated at higher multiples and smallcaps show a broader reset.

The outlet said the share of large caps trading above 80 times earnings declined to 21.3% from 31.9%, down 10.6 percentage points, with the bands just below that threshold expanding.

It added that midcaps retain the highest concentration at elevated valuations, with 23.5% trading above 80x P/E, and that smaller segments have shifted more broadly across expensive valuation bands.

LiveMint Markets also noted that whether the cheaper stocks offer better value depends on earnings, and that midcaps have sustained premiums tied to expectations of stronger growth.

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