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5 Most Overvalued Multibagger Stocks For October 2022
Indian market is having a sharp fall from the past few trading session, and it is joining the global markets in the sell-off. The volatility in the markets has been huge in recent trading sessions, and in these conditions, investors look for opportunities to earn profits from the equity market.
While researching equities, it is crucial to know whether the stock is overvalued or undervalued, and Price to Earning ratio can be a good indicator of that. So, here is a list of stocks with the highest Price to Earning ratio or overvalued stocks for October 2022.
FSN E-Commerce Ventures Ltd
FSN E-commerce Ventures Ltd. (FSNEV) is a digitally native consumer technology platform alternatively known as "Nykaa," which offers customers a content-driven, lifestyle shopping experience. The business offers a wide range of fashion, personal care, beauty products, and its own brand of goods.
The company is the most overvalued in terms of Price to earnings ratio. However, the stock's current market price is Rs. 1,273, with a market capitalization of over Rs. 60, 401 Crores. The stock's current Price to earning ratio is 1,465 and has a book value of only Rs.28.3.
Adani Total Gas Ltd
Adani Group incorporated Adani Total Gas Ltd in 2005. The company is engaged in City Gas Distribution (CGD) business and supplies natural gas to commercial, industrial, and domestic users.
Adani Total Gas Ltd is a large-cap company with a market capitalization of Rs. 363,377 Crores. The stock is trading at the market price of Rs. 3,304, and as per the fundamentals, the stock is overvalued. All the stocks of the Adani Group are mostly overvalued, and Adani Total Gas Ltd has a book value of 22.1 and the Price to Earning ratio of 721.
Indian Hotels Co. Ltd
Indian Hotels Co. Ltd is a part of the Tata group, with more than 100 companies under its ownership. The company has a legacy of more than 116 years in the hotel business, and it is primarily engaged in operating & managing, and owning hotels, resorts and places.
The current market capitalization of the stock is Rs. 46,305 Crores, with a stock market price of Rs. 326. As per the Price to earnings ratio, the stock is currently overvalued as it has a Price to Earnings ratio of 228, and the stock's book value is 49.7.
KIOCL Ltd
KIOCL Ltd is a company under the flagship of the Ministry of Gol, Steel, with Miniratna status. The company is export-oriented and has expertise in filtration technology, iron ore mining, and producing high-quality pellets.
The company is highly overvalued in book value and the Price to earnings ratio. However, the stock's current market price is Rs. 186, with a market capitalization of over Rs. 11 298 Crores. The current book value of the stock is 35.3, and the Price to earnings ratio of the stock is 210.
Westlife Development Ltd
Through its fully owned subsidiary Hardcastle Locations Pvt Ltd, Westlife Development Limited (WDL) concentrates on opening and running McDonald's restaurants throughout West and South India.
The stock is overvalued as its book value is very low compared to its current market price. The stock's current market price is Rs. 708 and has a market capitalization of Rs. 11 040 Crores. The Price to earning ratio of the stock is 200, and it has a book value of Rs. 29.6.
