Avoid Bharti Infra, CARE, PC Jeweller IPOs: Rajen Shah

Rajen Shah, CIO of Angel Broking advised avoiding the Bharti Infratel IPO that will be opened for subscription from tomorrow till Friday, December 14.

Shah told CNBC-TV18, "We have avoid on Bharti Infratel IPO. There is little room for some money to be made for retailers. But certainly that is not enough to motivate me to deploy my money into this company though it is coming from a very good promoter."

"Looking at the valuations of CRISIL 30 times the earning, CARE looks to be fairly priced IPO. But I would certainly not put my money because there also we don’t see any major appreciation," he added.

Shah further said, "As far as PC Jeweller is concerned I would avoid it. I am amazed at the kind of valuation; Tribhovandas Bhimji Zaveri (TBZ) is quoting at almost more than 25 times the current year earnings. Even Gitanjali Gems is quoting expensive. So I would certainly avoid all three issues."