Accounting for shares

yes, it is right, since as per AS 2 you have to value ur stock at market price or cost which ever is less, since market price Rs. 300/- is less then cost i.e., Rs. 1000/-, hence comany sholud value the stock at Rs. 300/- i.e., increse of Rs. 100/- from last year.

can u tell me , what will be tally entries of valuation of closing stock , if we revalue it on Net Realisable Value.... is revaluation of Closing Stock of Shares is an expense or Reseve ???