Grasim, Reliance among top 10 Nifty stocks trading at premium of over 30%

Jul 03, 2024, 03:03:43 PM IST1/11

Trading higher

The Nifty, after consolidating in May 2024, touched a fresh high of 24,174 before ending with over 6% MoM gains at 24,011 in June 2024. Notably, the index was extremely volatile and swung around 2,893 points before closing 1,480 points higher. In such a market, domestic brokerage firm Motilal Oswal has analyzed that nearly half of the Nifty constituents are trading at a premium to their historical average.Below is a list of top 10 Nifty50 stocks, as analyzed by Motilal Oswal, which are trading at a premium to their 10 year average:

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Grasim Industries

Shares of Grasim Industries are trading at the highest premium of 93% among the Nifty50 group, with its 10 year average PE of 14x.

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​Reliance Industries

RIL shares are trading at a premium of 65% against its 10-year PE average of 15.6x.

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Bajaj Auto

Bajaj Auto’s 10 year average PE stands at 18x, while the stock is currently trading at a premium of around 56%.

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Divi’s Lab

Shares of Divi’s Lab are currently trading at a healthy premium of around 55% vis-a-vis its 10 year PE average.

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Adani Ports

Adani Ports’ historical PE average of 10 years stands at 18.6x as the stock is trading at a premium of 55%.

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Tech mahindra

Shares of Tech Mahindra are trading at a premium of 43% currently.

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HCL Tech

HCL Tech shares are trading at a premium of 37%, while its 10 year PE of 16.3x.

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M&M

Shares of M&M are trading at a 36% premium against its 10 year PE average of 18.4x.
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Tata Consumer

Tata Consumers 10 year PE average is 46.6x and the stock is trading at a premium of 28%.

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LTI Mindtree

Shares of LTI Mindtree are trading at a premium of 31% with a 10 year average PE of 33.3x.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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