MLR Securities recommended investors to Avoid the issue. MLR Securities says Prakash Constrowell Ltd is asking for valuations of 15.4-16.3 times FY11 EPS on a price band of Rs 130-138. P/BV is almost 2 times it FY11 book value of Rs 73 post issue.
Valuations are quite expensive when compared to its peers like Vascon Engineers which is trading at a market cap to sales ratio of 0.5, P/E of 9 and P/BV of 0.6. We recommend investors to avoid this issue.
For detail analysis please visit following link:
http://www.chittorgarh.com/ipo/ipo_review.asp?a=40
Valuations are quite expensive when compared to its peers like Vascon Engineers which is trading at a market cap to sales ratio of 0.5, P/E of 9 and P/BV of 0.6. We recommend investors to avoid this issue.
For detail analysis please visit following link:
http://www.chittorgarh.com/ipo/ipo_review.asp?a=40
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