In a market that has witnessed anaemic growth in corporate earnings for quite a few quarters and is finding it difficult to sustain at higher levels, there are companies quoting at over 100 price-to-earnings (PE) multiples. These are not small companies whose share price and valuation can be pushed up easily. These have market capitalisation of more than Rs 5,000 crore, with some as high as Rs 42,000 crore. The list includes companies owned by multinationals like Blue Dart (PE of 350), Gillette, Alstom T&D India, ABB, 3M India and Thomas Cook. Info Edge, Crompton Greaves, EIH, Mahindra CIE and Shree Cement have Indian owners. Companies with close to 100 PE include United Breweries (PE of 98), WABCO (92) and Jubilant FoodWorks (88). The data is based on trailing 12 months' earnings (ending June/September 2015) and the latest share price of these companies. So as an investor what should you do? Unlike small companies, the reasons for big companies trading at such high val