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Strategies & Market Trends : India Stocks

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From: Julius Wong	1/3/2009 7:59:12 AM
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... Infosys (ticker: INFY), which has a reputation for being one of India's best-managed and most transparent companies, has an undemanding P/E of 11 and a dividend yield of almost 2%. The infotech consulting and software services firm has a cash balance of $1.9 billion, zero debt and a return on equity of 36%. And its cash is held in bank deposits, with absolutely no exposure to mutual funds. Another stock that appears to offer a decent risk-reward proposition is ICICI Bank (IBN). The stock, which traded around $75 at the height of the India bubble, is now around $18. That is basically where it was trading in 2004, before the India fever caught on. At its current price, the stock is trading at a modest trailing P/E of 14 and an attractive dividend yield of 2.8%. ... online.barrons.com

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