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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 10.86

-5.7%

3:02 PM EST

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To: Mohan Marette who wrote (736)	2/16/2000 8:35:00 AM
From: Mohan Marette	Read Replies (1) of 1471

Indian Hot Stk: MTNL +5.1%; Bright Internet Prospects Wednesday, February 16 3:27 PM SGT BOMBAY (Dow Jones)--Shares of Mahanagar Telephone Nigam Ltd. (P.MTN) are up 5.1% Wednesday afternoon on the Bombay Stock Exchange on continued investor interest in the telecommunication stock which is perceived as a major beneficiary of the growing Internet business in India. At 0713 GMT (2:13 a.m. EST), the shares of Mahanagar Telephone were up INR17.00 ($1=INR43.59), or 5.1%, at INR353. Vinit Sambre, an analyst at Kisan Ratilal Choksey & Co., said the company plans to acquire a software company to meet internal requirements and tie up with various Web portals for additional content on its own portal. He said that the company's plan to hive off its Internet and other value added services into a unit and upgrade its cellular services via the global system mobile technology is expected to raise its stock valuation. Its stock is expected to double over the next six months, Sambre said.

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