BSE 500 Analysis: Majority of companies trade below long-term valuations
ET Intelligence Group: Despite the recent uptick, a majority of the companies in a sample of BSE 500 continues to trade below three-year and five-year average valuations, shows an analysis by ETIG. In addition, the proportion of small-cap companies trading below their long-term average valuation is higher than their mid-cap and large-cap counterparts.
For a sample of 412 companies, excluding banking, financial services and insurance (BFSI), three out of every four companies have earned returns over the past month and nearly half of them trade above their year-ago levels. However, 56% and 53% of them are still available at lower price-earnings (P/E) multiples compared with the three-year and five-year average valuations.
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