Tata Steel, Coal India, JSW Steel and ONGC are among half of Nifty stocks that are trading at a steep discount to their 10-year valuation averages.
The steepest discount for Nifty consistent is seen on refiner ONGC, whose shares traded at 2.3 times trailing 12-month EPS, as of October 31, a 73 per cent discount to its historical average of 8.4 times.
This is as per publicly available data with Trendlyne.
Coal India's price target suggests a mere 5 per cent potential upside; JSW Steel's price target suggests a 21 per cent potential upside.
Among sectors, private lenders such as IndusInd Bank, HDFC Bank and ICICI Bank traded at up to 47 per cent discount to their trailing 12-month price-to-book value.
Source: BusinessToday
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