Tag: Yahoo Finance

Investors Pour Cash Into India's Most Expensive Stock

(Bloomberg) -- Surrounded by all the doom and gloom around the Indian consumer sector, a paint producer got so much love from investors that it is now the most expensive stock in the country’s benchmark index.Asian Paints Ltd.’s price-to-earnings ratio of 80.1 makes it the highest valued on the S&P BSE Sensex Index. The paint manufacturer has climbed 29.5% in the last six months -- when the broader gauge was up 6.7% -- and has hit a record high in the past month.Investors value its ability to churn out a record profit at a time when management at other consumer-oriented companies have warned of the impact from an economic slowdown. Of the 39 analysts who cover the stock, just four have the equivalent of a sell call. India’s paint industry, which Asian Paints dominates with around 40% market share, has been viewed as a haven.“Asian Paints is likely to keep rising”...