India Q4 GDP today: India s Q4FY24 GDP growth figures will be released on May 31. They are expected to be below 7 per cent. Experts believe the overall FY24 GDP will be around 8 per cent. Market sentiment is focused on the Lok Sabha election outcome.
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According to data from BSE, the 4,357 companies available for trade had a combined mcap of around Rs 416 trillion on Tuesday against India s GDP at current prices of Rs 296.6 trillion in FY24.
Sectors like e-commerce, small finance, housing finance, and healthcare are in great favour, and people are paying a PEG ratio of up to 5, which is dangerous. Wealth destruction is inevitable.
The universe of stocks trading at a 12-month forward price-to-earnings (P/E) multiple of 50x or more has swelled by 2.5x to 104, indicating the growing froth in the market.
In March 2023, the number of stocks with a P/E of 50x and 100x stood at 41 and 3, respectively, which has now grown to 104 and 9, according to an analysis by Kotak Institutional Equities (KIE).