Thursday, September 22, 2011

Avoid to RDB Rasayans IPO: MLR Securities

MLR Securities recommended investors to Avoid the issue.  MLR Securities says RRL's market cap is Rs 127-140 Cr on a price band of Rs 72-79. It is asking for a valuation of 58 times FY11 EPS at the upper price band and a P/BV of 11.3 times FY11 book value of 13.5.

"We believe the issue is aggressively priced considering its small scale of operations and weak fundamentals. We recommend investors to avoid this issue."

For detail analysis please visit following link: