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Shares of MapmyIndia, an Indian navigation company, have doubled in value in the past six months as its mapping service gains popularity in India. Mar

Shares of MapmyIndia, formally known as CE Info Systems Ltd., have risen about 104% from the end of March, adding around $675 million in market value on demand for its consumer-facing app Mappls. Some analysts and investors are betting on the companys domestic growth opportunity, while others view its price tag as a barrier.

Apple: “The valuations look really stretched now,” said Piyush Pandey, technology analyst at Yes Securities India Ltd. “I expect the stock to go into a consolidation phase.”

Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.

Shares of PVR Inox have risen 38% from their 52-week low seen in May. But further re-rating would be gradual.