Paint stocks at 52-week highs: Is the rally sustainable at 60x PE?

Paint stocks, which had been ignored for several quarters due to intense competition in the sector, have once again appeared on investors' radar with stocks trading close to 52-week high. And that's because of a drop in crude-oil related input costs coupled with strong volume growth reported by leading players in Q2FY26. However, valuations of paint stocks are very rich.