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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (296)	3/2/2000 8:57:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

Indian Hot Stks: HDFC Bk, ICICI Bk +8.0%; Internet Svcs Thursday, March 2 4:16 PM SGT BOMBAY (Dow Jones)--Shares of both HDFC Bank Ltd. (P.HBK) and ICICI Banking Corp. (P.III) are up 8.0% early Thursday on the banks' initiatives to expand Internet banking services to retail and corporate clients. Analysts said HDFC Bank is also seeing continued buying following the Reserve Bank of India's formal approval of the bank's merger with TimesBank Ltd. The merger will take effect Saturday. They added that investors are now focusing on private banks after the Indian government proposed in its 2000 budget announced last week to reduce its stake in state-owned banks to 33%, without privatizing these banks. Currently, the government's stake in these banks ranges from 60% to 100%. At 0813 GMT (3:13 a.m. EST) on the Bombay Stock Exchange, HDFC Bank was up 18.75 rupees ($1=INR43.540) at INR253.70 and ICICI Bank had gained INR14.50 at INR195.90.