
Stocks of multinational companies (MNCs) such as Hindustan Unilever (HUL), Siemens, ABB, Bata India, Astrazeneca Pharmaceuticals, Bosch, Pfizer and 3M India are trading at near their all-time highs. Valuations, too, have accordingly sky-rocketed and a majority of them – about 30 out of 43 MNC stocks listed in the bourses - are trading at about life-time high valuations. Priced at over 50x trailing earnings, experts say the bets are quite high on the MNC names, especially those in the consumer staples, healthcare and engineering baskets. “MNC stocks have always been expensive compared to their domestic peers for their branding and intellectual property acquired from their parent companies,” says Pankaj Pandey, head of research at ICICI Direct.
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First Published: Tue, April 23 2019. 18:03 IST
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