One company, read from its own statements.
Paytm does not fit neatly next to a bank, a payments processor or a consumer internet company. When no single peer works, valuation has to be done in parts, and in reverse.
Asian Paints is one of India's most admired companies. That reputation is earned, but it can stop investors from asking what the price actually requires. This piece reads the numbers on their own.
"Debt-free" is one of the most reassuring phrases in an investor presentation. Sometimes it signals strength. Sometimes it hides idle cash, disguised borrowing, or a business no lender will touch.