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

To: Mohan Marette who wrote (6154)	9/1/1999 1:38:00 PM
From: sea_biscuit	Respond to of 12475

PM refuses to put off Ayodhya forever rediff.com Well, I am glad. The cauldron has to be kept boiling. And you can trust the saffron-langots to keep the tinderbox hot. And the hotter it gets, the sooner it will open up.

To: Mohan Marette who wrote (6154)	9/1/1999 4:32:00 PM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

RPG Group market cap rises Rs 9 billion in two months RPG Group Website rpgnet.com (Thursday, September 2, 1999) Sourav Majumdar in Calcutta -BS The Rs 6,400-crore ($1.5 billion) Rama Prasad Goenka group, which is in the midst of implementing a series of steps to increase shareholder value, has seen the combined market capitalisation of its listed companies soar by just under Rs 900 crore in a span of two months. The jump in intrinsic value of its unlisted companies is also huge, according to market estimates. According to data available between June 29 and August 27, 1999, the market capitalisation of almost all the listed group companies has shot up substantially and is continuing its northward journey. The highest jump in market cap has been recorded in Spentex Industries, that of 199.78 per cent, followed by RPG Cables (177.62 per cent), RPG Transmission (134.49 per cent), KEC International (130.89 per cent) and Gramophone Company of India Ltd (114.22 per cent) during the period. Says RPG Enterprises vice-chairman Sanjiv Goenka: "RPG remains committed to increasing shareholder value. The group is increasingly focusing on corporate governance, moving to its core competencies and a clear emphasis on return on capital employed as a measure of success." The total market capitalisation of the 13 major RPG listed companies, together with some others came to Rs 1281.79 crore as on June 29, 1999. This moved up to Rs 2125.76 crore on August 27, a growth of 65.84 per cent. According to a broker at a leading National Stock Exchange and Calcutta Stock Exchange brokerage, the improvement in the performance of the share prices of the group reflects the improved perception in the market about the RPG group in general. "They are now being seen as taking major steps to improve shareholder value. The corporate governance initiative has also been kicked off," the broker pointed out. According to analysts, the performance of the recently launched RPG company, Saregama plc, a Gramophone subsidiary incorporated in the UK, where overseas shareholders pitched for the stock, has also bolstered the image of the group in Indian bourses. "RPG Cables is doing well. In other companies also, there's a focused approach to growth," an analyst said. However, while the growth in listed stocks has been encouraging for the group, the jump in intrinsic worth of the unlisted companies has been quite spectacular. Unlisted companies like RPG Cellular, RPG Cellcom, Datacraft, RPG Paging, the retail business, Spencer Intl Hotels and the Fujitsu-ICIM and ICIL combine have seen major increases in worth. Together, these are understood to be in the region of Rs 2550 crore, according to market estimates.