OUR THOUGHTS (Incwert Chronicles)
India Equity Risk Premium 2023
This is Incwert’s fifth edition of India Equity Risk Premium study. Based on the current market conditions, we recommend India ERP of 7.50% ( 7.00% and 8.00% being the upper and lower limit of the range, respectively) beginning April 2023Read More
Volatility Study 2023
This is the third edition of Incwert’s Volatility Study, assessing the quantum of volatility in the asset prices differentiated by size based on the analysis of indices and listed companies in India.
We observe an increase in the volatility band for the micro enterprises to 65-70% compared to 60-65% during 2021. The volatility band of micro-enterprises may of significance for capturing the risk factors in privately held companies and start-ups.
We are pleased to release the third edition of Incwert’s holding company discount (“HoldCo Discount”) study 2022, based on the analysis of select listed holding companies across major sectors in India.
We observe that the median HoldCo discount in FY22 is approximately 71 per cent across the major listed holding entities in India.
The median HoldCo discount expanded during the COVID-19 period due to the volatility spillovers in the market.Read More
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Featured News/ Reference to Incwert's research papers
ICAI RVO - Valuation Professional's insight (series 7)
The book published by the Institute of Chartered Accountants of India RVO draws reference to ERP based on the paper published by Incwert.
Airports Economic Regulatory Authority - Ahmedabad International Airport Ltd
The multiyear tariff proposal for Ahmedabad International Airport Limited for the third control period draws reference to ERP using the paper published by Incwert.
Taxguru - How to value your business during COVID times?
The Equity Risk Premium of India at the beginning of April 2020 was 7.50% as per Incwert Valuation Chronicles, Series 4, 2020 (Source: ...
Airports Economic Regulatory Authority - Mangaluru International Airport
The multiyear tariff proposal for Mangaluru International Airport draws reference to ERP using the paper published by Incwert.
Asian Development Bank's report - Prefeasibility Study on Carbon Capture and Utilization Cement Industry of India
The report draws reference to ERP using the paper published by Incwert.
Reference to control premium study - Mint
Incwert Advisory Pvt. Ltd, an independent valuation services firm, points out in a report that acquirers paid on average a 28% premium to ...
Credit Research Challenge 2018-19
Punit Khandelwal. Co-founder IncWert Advisory. Nirakar Pradhan. Director Professional Risk Managers' International Association, USA. Joydeep Sen...
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