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

To: ratan lal who wrote (10028)	12/14/1999 10:35:00 AM
From: Hans U. Tschanz	Respond to of 12475

Nasdaq sees 6-10 Indian listings in 2000 BANGALORE, India, Dec 14 (Reuters) - At least six to 10 Indian firms are likely to list on the technology-driven U.S. Nasdaq stock exchange during 2000 with the first of them expected in March, a senior Nasdaq official said on Tuesday. ''We will have listed next year between six and ten new (Indian) companies,'' Patrick Sutch, Nasdaq's business development director for Asia/Pacific, told reporters. The first of these listings would take place in March, Sutch said in reply to a question on the sidelines of a Nasdaq meeting with Indian firms in this southern Indian city. ''But I am not in a position to tell you who will be coming,'' he said when asked to name the firms likely to list in 2000. India saw its first listing on the Nasdaq stock market -- and on any U.S. market -- in March 1999 when the country's celebrated computer software firm Infosys Technologies Ltd (NasdaqNM:INFY - news) made a debut on the exchange. Leading private Internet service provider (ISP) Satyam Infoway (NasdaqNM:SIFY - news) in October followed Infosys to the Nasdaq. The Nasdaq valuations of Infosys, and to an extent Satyam Infoway, have been driving India's stock markets with software stocks witnessing a huge demand. Sutch said the first of Indian companies coming to the Nasdaq would include information technology, telecom and pharmaceutical firms. ''I think there are a lot of budding companies that are interested in coming to us...depending on if the market stays up,'' he said. ''At the moment the markets are doing very well and we believe that there will be more money coming into the market in the first quarter next year.'' Sutch said investors were currently beginning to take their profits because of the Christmas and New Year holiday season. ''They will come back in January. When you go on a holiday you don't want to leave too much in the market,'' he said. He said the Nasdaaq market had moved up 65 percent during 1999 against 40 percent last year and that the exchange expected the uptrend to continue.