ET Intelligence Group: Better earnings visibility, lower free float and superior growth prospects are helping Indian companies to command higher price-book value (P/B) compared with their global peers. In the building material space, Indian companies such as UltraTech acc , and Shree Cement figure in the list of top 12 expensive stocks, globally.Shree Cement is the most expensive stock in the global cement space. Nifty is at 2.8 times its book value, the highest among top global benchmark indices. Similarly, Eicher Motors, the maker of Royal Enfield motorcycles, is trading nearly 3.5 times higher than Harley-Davidson and 4 times higher than the global average.Analysts expect 15-30% earnings growth for companies in these sectors over the next two fiscal years. The stock of consumer goods major Hindustan Unilever trades at nearly three times the global average valuation of consumer staple stocks.These premium valuations have also made the benchmark index Nifty expensive.

Source: Economic Times June 14, 2016 23:18 UTC