At a PE multiple of 1.9 times, ONGC traded at a 78 per cent discount to its 10-year average of 8.5 times. Tata Steel at 5.9 times traded at a 53 per cent discount to its historic PE of 12.5 times. Coal India (down 53 per cent), Apollo Hospitals (down 38 per cent) and JSW Steel (down 36 per cent) are a few other stocks which are trading at steep discounts to their historical levels.
