NEW DELHI, May 14 -- Tata Consumer Products Ltd's shares have had investors' attention for some time now. In calendar year 2020, the shares surged as much as 84% on the NSE, easily making it one of the best-performing consumer stocks.
After the sharp re-rating, 2021 has begun on a relatively slow note with the shares gaining almost 7% so far.
Against this backdrop, valuations are no doubt expensive. In fact, they are now higher than that of peer Britannia Industries Ltd.
Based on Bloomberg data, the Tata Consumer stock now trades at 49 times one-year forward price-to-earnings ratio versus 45 times of Britannia.
Of course, this wasn't always the case.
Before the impact of the pandemic started reflecting, Tata Consumer's shares traded at...