India is most expensive stock market globally, can't justify paying 31 times earnings: Damodaran

Valuation expert Aswath Damodaran said in a blog post that India's stock market is the "most expensive" in the world. "No amount of handwaving about...India story can justify paying 31 times earnings, 3 times revenue and 20 times EBITDA...for Indian companies," the NYU Stern School of Business professor added. He also noted that US and China's markets are also expensive.