After two junk IPOs in the last 10 days in the Indian markets another one has come up.As I was refererring to in my last post I thought Nitesh Estates was a really low quality offering but Tarapur Transformers really takes the cake. It is raising around 125 crores at 50 times P/E and more […]

General stock market Wisdom tells us that low quality IPOs are a sign of a market top . Going by the recent spate of low quality issues in the Indian market . Goenka Diamond,Ganesh Jewellery,Pradip Overseas and now two more in the shape of Nitesh Estates and Tawalkar Gym  could indicate one. However these issues […]