Investors pour cash into India’s most expensive stock

MUMBAI: Surrounded by all the doom and gloom around the Indian consumer sector, a paint producer got so much love from investors that it is now the most expensive stock in the country’s benchmark index.

Asian Paints Ltd’s price-to-earnings ratio of 80.1 makes it the highest valued on the S&P BSE Sensex Index. The paint manufacturer has climbed 29% in the last six months – when the broader gauge has gained 6.5% – and has hit a record high in the past month.