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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5847)	9/23/1999 2:39:00 AM
From: Nandu	Read Replies (1) of 12475

(Courtesy: CIL Securities,Hyederabad) SATYAM COMPUTERS & PENTAFOUR SOFT These major momentum stocks have already shown a tendency to slow down and we expect them to slide further in the coming weeks. With a general consensus amongst the marketmen regarding the slowdown in the growth pace which was hitherto hectic in the IT Industry, both these stocks may gradually witness a steady slide interrupted by upward corrections from time to time. Our medium term forecast for these stocks is a trading range of Rs.400-500 (on ex-bonus) based on an assumption of growth rates being 30-40% in topline and 40-60% in bottomlines as against the 100% plus in the previous years. Mohan, you quoted the above analysis on Aug 25th and as an owner of Satyam, it stuck in my craw. Satyam never went below 800 after the bonus, and is now trading at 1139. Once the ADR is done, I wouldn't be surprised to see Satyam near 2000. While Pentafour did not do as well, it also never went as low as 500 after the bonus, and is trading now at 655, not too far from its all time high of 695. I hope the anal-yst who wrote the above is properly repentant.

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