A stagnant price-to-book (P/B) value ratio of 1.54 since March 2002 shows that investors are not impressed by the profit growth of corporates in the first nine months of 2002-03.
In fact, the ratio is down compared with a P/B of 2.01 in March 2001. Further, the sensex P/E is down to 14.12 compared with a P/E of 17 in March 2001.
The P/B ratio compares a stock