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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Mad2 who wrote (2176)	12/5/1999 8:05:00 AM
From: RockyBalboa	Respond to of 3543

Here is a nice effect - obviously the result of the tuliopmania we live in: >>>>>>>>>> FOCUS-Infosys shares slide on stock split BANGALORE, India, Nov 29 (Reuters) - Indian software blue-chip firm Infosys Technologies Ltd announced on Monday a two-for-one stock split but the ratio disappointed investors and its shares ended lower on the Bombay Stock Exchange (BSE). Infosys, the first Indian company to list on a U.S. exchange when its American Depositary Shares (ADS) began trading on NASDAQ in March, said it would split the par value of its domestic shares to five rupees each from 10 rupees. The firm said it will convene an extraordinary general meeting on December 29 to seek shareholder approval for the split. It said the U.S.-listed shares will also be split in a similar ratio while two ADS will continue to constitute one local share. ''SEBI (the Securities and Exchange Board of India) has given flexibility to companies to sub-divide the par value of shares to less than 10 rupees and the company has chosen this option to improve liquidity,'' N.R. Narayana Murthy, chairman and chief executive officer, said in a statement. The Infosys shares, a high-flier on the stock markets having risen more than 200 percent since early March, lost ground over general expectations that the firm would announce a higher split ratio to enable more retail participation. ''It is a disappointment compared to market expectations of three-for-one or higher. But I expect the company to do more stock splits in future,'' said Hitesh Zaveri, analyst at ASK-Raymond James Securities India. <<<<<<<<<<<<< Stock Split expectations - disappointment. A new spin. Earnings don't count (have never counted), revenues don't count...but stock splits do.