India's capital market intermediaries and issuers needed to get the pricing of financial instruments right and take their own lead, capital market players said at an industry conference on Tuesday.
"The market has lost the ability to price anything with confidence," R Ravimohan, MD & regional head, South Asia, of rating agency Standard & Poor's said at a seminar.
Pricing of a financial instrument was at the crux of today's problem, he added. "Today in the equity markets, the only metrics by which a company's performance and fundamentals are measured is by price."
Commenting on the stock market's fall and deferring of share sales by some companies, C B Bhave, chairman of market regulator Securities and Exchange Board of India, asked if it was a bad time for IPOs or "is it really the price we are talking about."
Source: http://economictimes.indiatimes.com/Pricing_may_be_key_to_IPO_revival_Analysts/articleshow/2935400.cms
"The market has lost the ability to price anything with confidence," R Ravimohan, MD & regional head, South Asia, of rating agency Standard & Poor's said at a seminar.
Pricing of a financial instrument was at the crux of today's problem, he added. "Today in the equity markets, the only metrics by which a company's performance and fundamentals are measured is by price."
Commenting on the stock market's fall and deferring of share sales by some companies, C B Bhave, chairman of market regulator Securities and Exchange Board of India, asked if it was a bad time for IPOs or "is it really the price we are talking about."
Source: http://economictimes.indiatimes.com/Pricing_may_be_key_to_IPO_revival_Analysts/articleshow/2935400.cms
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