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

To: Mohan Marette who wrote (4653)	6/18/1999 8:39:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Analyst Recommendations-TELCO,Bank of India,Hind Lever,InfoSys,L&T,ICI. Tata Eng & Loco Maintained 'Market Perform' at BNP Prime telcoindia.com Bloomberg News June 18, 1999, 2:30 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Tata Engineering & Locomot (TELCO IN) was maintained ''market perform'' by analyst Vs Hariharan at BNP Prime Peregrine. =============================== Bank Of India Maintained 'Sell' at CSFB Bloomberg News June 18, 1999, 2:25 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Bank Of India (BOI IN) was maintained ''sell'' by analyst Rajesh Sundaresan at Credit Suisse First Boston Inc. ======================== Hindustan Lever Maintained 'Buy' at CLSA hll.com Bloomberg News June 18, 1999, 1:54 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Hindustan Lever Limited (HLVR IN) was maintained ''buy'' by analysts Sandeep Kothari and Madhusudan Bagree at CLSA Global Emerging Markets. =============================== Infosys Technologies Maintained 'Buy' at ASK-Raymond James inf.com Bloomberg News June 18, 1999, 1:31 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Infosys Technologies Ltd (INFO IN) was maintained ''buy'' by analyst Supratim Basu at ASK-Raymond James Financial Services India. ========================= Larsen & Toubro Named 'Buy' at Indosuez W.I. Carr larsentoubro.com Bloomberg News June 18, 1999, 1:07 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Larsen & Toubro Limited (LT IN) was named ''buy'' by analyst Sunil Kumar at Indosuez W.I. Carr. ======================== ICI India Ltd Named 'Sell' at Indosuez W.I. Carr Bloomberg News June 18, 1999, 1:01 a.m. PT Mumbai, June 18 (Bloomberg Data) -- Ici India Limited (ICI IN) was named ''sell'' by analyst Reena Verma at Indosuez W.I. Carr. ========================

To: Mohan Marette who wrote (4653)	6/18/1999 10:23:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

Company Profile - Ashok Leyland ashokleyland.com Equity Watch walletwatch.com Profile Ashok Leyland (AL) is the second largest medium/heavy commercial vehicle (M/HCV) manufacturer (32% market share) in the country. Over 70% of its sales are from the South. It has only a marginal presence in the light commercial vehicle (LCV) segment (1%). The company is the market leader in the bus segment (55%). AL has a technology tie-up with Iveco (a global leader in commercial vehicles). Iveco is also one of its promoters. During FY98, AL's sales fell by 27% over FY97, in terms of volumes. The company's performance was adversely affected by the slowdown in the automobile sector, which affected the CV segment in particular. The 33% decline in CV demand hit the company's profitability, with profit after tax falling by 85%. The company was forced to cut production by 30% over FY97. However, exports in terms of volume improved by 41% over the previous year. The slowdown in the CV segment is showing no signs of any letup and is expected to persist well into FY99. The company is likely to witness negative growth in sales as well as profitability until at least 1HFY99. During the year, AL has gained some market share at TELCO's expense mainly on account of its strength in the bus segment. The company's buses are mostly preferred by the state transport corporations. The company's has now shifted focus from the Iveco vehicle, in favour of Leyland and HINO capacities, as the former has not performed satisfactorily. AL is upgrading its technology and further expanding its capacities. The capacity is forecast to be expanded to 76,000 by FY2000. The company plans to invest Rs 2 bn annually upto FY2000 to meet the cost of the above project.