RIL's valuation premium hits all-time high of 830 bps; stock rises over 3%

It is trading at nearly 28 times its trailing earnings per share against Sensex's 19.4

Reliance Industries has become one of the most expensive stocks on price-to-earnings (P/E) multiple basis in the large-cap space, with the exception of highly-valued fast moving consumer goods (FMCG) companies such as Hindustan Unilever, Britannia, Nestlé and Asian Paints.

At its current stock price, RIL is trading at nearly 28 times its trailing earnings per share (EPS) against the benchmark BSE Sensex’s multiple of 19.4x. 

As a result, RIL’s valuation premium over the broader market has hit a record high of 830 basis points (bps), surpassing the previous high of 300 bps in December 2007, when it was the biggest