Canada based Research group Veritas has issued a research report about Indiabulls group. The report has suggested investors to fight a legal battle as the company management was following dubious accounting practices.
The stock price of various companies under Indiabulls group crashed between 5-10 per cent during the trading session. Veritas report claims that the public shareholders were at the losing end in the merger deal of Indiabulls Infra with Indiabulls Power.
Canadian research firm Veritas has said that the shares of Reliance Communications should be valued at just Rs15 compared to the market value of Rs65.
The independent research firm devised a new idea called "governance discount", under which it asks the investors to apply a governance discount of about 50 per cent on the value of the stock. According to the report, the approximate value of stock is around Rs30 and after applying a 50% governance discount the value is about 15 per cent.
Canading research firm, Veritas Investment Research has accused DLF, which is indian's leading construction sector player, of inflating its assets through inappropriate dealings.
The report by the first has claimed that the company has been misappropriating its books form the last four years. Company analysts Neeraj Monga and Nitin Mangal have said in a recent report on DLF titled 'crumbling edifice' that the company's shares are best priced at Rs. 100 compared to their current market value of more than two hundred rupees.
Canadian research firm, Veritas Investment Research had criticized Indian realty major, DLF's counting practices, business model and management integrity.
Company analysts Neeraj Monga and Nitin Mangal have said in a recent report on DLF titled 'crumbling edifice' that the comoany's shares are best priced at Rs 100 compared to their current market value of more than two hundred rupees.
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