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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4450)	6/9/1999 12:56:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

'India more promising than its peers'-Freshwater. Govindraj Ethiraj and Ravil Shirodkar MUMBAI 8 JUNE TIM FRESHWATER is not an India specialist. But the fragrance of opportunity continues to draw him to the country. ''India is central to our business franchise,” said Mr Freshwater, soon to become chairman of Jardine Fleming, Asia's powerful securities house. Mr Freshwater is on a visit to the country. A Cambridge alumni, Mr Freshwater has been involved with Asian markets for over two decades now. He spent seven of his 29 career years at Slaughter & May. He had acted as legal advisor for over 50 international capital market issues of Asian companies at the law firm's Hong Kong office. Mr Freshwater joined Jardine Fleming in '96 and has been involved in the recent restructuring and management of the group. Excerpts from an interview he gave to The Economic Times:....... economictimes.com

To: Mohan Marette who wrote (4450)	6/9/1999 8:08:00 PM
From: Nandu	Read Replies (2) \| Respond to of 12475

With one American depositary receipt representing half of a local share, the $56 1/8 price of each ADR implies a 55 percent premium over the local shares as of yesterday's close. The gap makes it attractive for global investors to buy Infosys shares from Indian stock exchanges and sell them on the Nasdaq, analysts said. Mohan, that is great action if we can get in on it. Any idea of NRIs can do this? That is, buy in Bombay and sell in New York as an ADR? There has to be an underlying transaction that links an ADR to the original stock, just as commodity futures are related to the actual commodity by delivery rules. I remember posting here a month or so back a headline that NRIs are now allowed to redeem ADRs as Indian shares. I tried to find details on that, but couldn't. The transaction we are discussing here is the reverse. Redeeming Indian shares as ADRs.