R R Kabel Ltd.

“RR Kabel participates in India's durable wire-and-cable buildout with a narrow but real distribution moat and a credible FMEG optionality bet, but the current 44x trailing P/E already prices in near-perfect execution of that strategy — leaving no margin of safety for a commodity-spread business earning 6–7% EBITDA margins against structurally stronger peers; the business is trackable, not buyable, at this price.”