Great Eastern Shipping to Petronet LNG: 10 value bets for rich payoffs

India’s equity valuation has seen a tempering in the past three months, mirroring a decline in the broader market. The trailing 12-month price-to-earnings (P/E) multiple of the BSE Sensex has receded from an 18-month high of 24.8x at the end of July to 22.8x on Monday. This downturn has been led by foreign portfolio investors (FPIs), who, after six months of net buying, have turned net sellers of Indian equities over the last two months. The selloff by FPIs could be attributed to a marked escalation in bond yields in the United States, rendering investments in riskier assets like emerging market equity less financially appealing.