Mumbai, March 13 -- Escalating geopolitical tensions in West Asia and the resulting global risk aversion have triggered a correction in Indian equities-reviving a long-running debate on whether valuations are finally becoming more reasonable. Benchmark indices have weakened over the past two weeks as rising crude prices and continued foreign portfolio investor (FPI) outflows weighed on sentiment. The pullback follows months of trade-deal-fuelled exuberance and a sharp rally from budget-session lows, prompting investors to reassess whether the market's valuation premium has begun to moderate. However, a Mint analysis of more than 3,400 BSE-listed companies shows that while valuations have moderated from recent highs, a significant portion of...