Can Srei Group firm Bharat Road Network take a turn for the better?

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When Bharat Road Network Ltd (BRNL) was preparing to float its initial public offering two-and-a-half years ago, analysts had raised concerns over its asking valuation. Those concerns have turned out to be true. Kolkata-based BRNL’s asking valuation of Rs 1,721 crore appeared a tad too aggressive in the light of its ......