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

To: Mohan Marette who wrote (9996)	12/10/1999 9:32:00 PM
From: Mohan Marette	Respond to of 12475

The Insider: ADR attraction adityabirla.com A V Birla's flagship company, Hindalco, is shortly planning to hit the US NYSE with an ADR issue, The Insider learns. The company is presently undergoing the due diligence process and reconciliation of accounts with GAAP. Hindalco is among lowest cost producers globally with captive source of bauxite and power and low labour costs. The Insiders feel that US listing would help it in attracting institutional investors and achieving better valuations. Hindalco's PE of 10 is much lower than global giants Alcan's 24, Alcoa's 18 and Alusuisse 17. The company's top management has already stated that it would focus on shareholder value and consider aggressive pay outs and buy back of shares. Aluminium prices have been rising in international markets and coupled with lower rupee Hindalco is expected to post a much higher bottomline in the current year (Investors Guide - NOV 29 - DEC 04 1999 )