Nifty nears record highs, but just 15 stocks bringing in value: Expert

The Nifty is hovering near record highs. However, most of its components are trading at a huge discount to their historical valuations. Motilal Oswal Financial Services says the Nifty has managed to climb to 12,000, thanks to the performance of only 15 stocks. Meanwhile, the remaining 35 scrips are showcasing the Nifty to be below 9,000, it says.
 
A comparison of the price-to-earnings (P/E) or price-to-book (P/B) multiples of all the Nifty stocks throws up the list of stocks that are being favoured and neglected. Stocks like Bajaj Finance, RIL and Titan are trading at a substantial premium to