Guidelines on share valuation: how fair is fair value?
Abstract
The Indian capital market has shown signs
of buoyancy and dynamism in the recent
past. There is a very real need, therefore, to
nurture and to give positive direction to the
emerging trends in this sphere of economic
activity. It is in this context that regulatory
agencies have a critical role in providing the
right kind of support to avoid bunching of
issues as well as in protecting investors
against manipulation by unscrupulous
investors. Have Indian regulatory agencies
risen to the occasion by formulating
appropriate and adequate policies to
facilitate the development of the capital
markets in India?
In this article, Varma and Venkiteswaran
examine the role of Indian regulatory
agencies and evaluate the methodology
spelt out in the official guidelines for
valuation of equity shares made public by
the Government of India
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