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

To: Mohan Marette who wrote (5146)	7/16/1999 12:35:00 PM
From: Nandu	Read Replies (2) \| Respond to of 12475

Hey here is an idea,why don't we buy shares in India and sell to the guys here in the U.S. Mohan, I asked in this thread whether we (NRIs) can do this, when the premium for INFY was much lower. This is a great arbitrage opportunity, if we can figure out how to execute it. Come on, you have contact with Indian brokers. Ask them what can be done, and how. Couple of points. a) There has to be a mechanism (other than "say so") that links the ADRs to the corresponding foreign stock. b) I did read a headline in Indiaworld a couple of months back that the RBI has allowed NRIs to redeem ADRs as BSE shares. I.e. the opposite transaction of what we want to do is allowed.