Valuation Watch: 12 mid-cap stocks with sky-high PE ratios

A valuation scan by StockEdge.com identified 12 NSE mid-cap stocks (excluding banking and financials) trading at extremely high trailing twelve-month P/E ratios, raising overvaluation concerns. The list is led by GMR Airports at 678.7x, followed by FSN E-commerce Ventures (Nykaa) at 444.85x, Lenskart Solutions at 187.9x, Biocon at 180.15x, and NTPC Green Energy at 153.89x. Other names include One97 Communications (Paytm) at 141.75x, Bharat Dynamics at 121.16x, Adani Total Gas at 121.06x, and Voltas at 112.86x, using financials up to the March 2026 quarter.