Harshad Mehta Led News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The benchmark Nifty50 index on Tuesday reached another milestone in its journey to scale fresh peaks. The index price-to-earnings (P/E) multiple reached an all-time high of 40x on Tuesday when it made an intra-day high of 14,590.65. The index closed the day with a P/E multiple of 39.9 and earnings per share (EPS, or earnings per unit of the index) of Rs 364.6.
This is first time in 25 years that a benchmark equity index in India is trading at a P/E multiple of 40x or higher. The BSE Sensex had last traded at 40x or higher in October 1994. The Sensex valuation had peaked at a P/E multiple of 57.4x in April 1992 at the height of the Harshad Mehta-led rally on the bourses. It is currently trading at a P/E multiple of around 35x the highest in 25 years. ....

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