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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (3953)	3/28/1999 7:40:00 PM
From: Mohan Marette	Read Replies (1) of 12475

Indian software stocks come down to earth. High-flying software stocks come back to earth; market capitalisation plunges across the board as foreign funds book profits Our Markets Bureau in Mumbai The law of gravity seems to have caught up with software scrips, with frontline stocks which shedding between 10 and 15 per cent of their market capitalisation over the last week alone. Not all stocks have been uniformly hammered. Infofys Technologies Ltd's market cap has shrunk by only around 7 per cent as it's domestic price closely follows the Nasdaq American Depositories Receipts price. After a fall early on in the week, the Nasdaq has managed to bounce back significantly on the last two trading days of the week. Other contrarians have been Silverline Industries, Rolta Industries and Software Solutions Integrated, which have seen an increase of 8.53 per cent, 4.04 per cent and 4.79 per cent respectively in their market cap........ business-standard.com

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