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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (988)	3/2/2000 3:17:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

5 of 6 top m-cappers are New Eco, Satyam pips RIL Our Mumbai bureau 2 MARCH It may take awhile for the dominance of the New Economy to sink in but domestic stockmarkets have already factored in the transformation, it appears, as the market-cap of Satyam Computers today surpassed that of petrochemicals major Reliance Industries. The Hyderabad-based Satyam (which also owns Nasdaq-listed subsidiary and internet service provider Satyam Infoway) emerged as the sixth largest company in terms of capitalisation on the BSE after its m-cap shot up to Rs 30,652 crore ($ 7.05bn) - nearly 3,400 crore higher than Reliance's Rs 27,280 crore ($6.25bn). With this, five of the top six stocks on the m-cap charts are ET Mindex stocks, representing the New Economy-convergence space of infotech, internet, media, entertainment and telecom sector. Consumer goods company Hindustan Lever is the only company that finds a place among the list of Wipro, Infosys Technologies, Zee Telefilms, HCL Technologies and Satyam Computers. Of course, m-cap can be a fickle thing, as Azim Premji of Wipro will tell you. Satyam's rise today was largely driven by the clear divergence in the market as the old and new economy stocks hit lower and upper circuits respectively. As a result, the BSE sensitive index fell 114 points to 5,528 while the ET Mindex soared another 385 points to 7,663, a gain of 923 points or 14 per cent since yesterday. The aggregate market-cap of the five ET Mindex stocks is now at a staggering Rs 3,57,000 crore ($ 81.88bn) -- nearly a third of BSE's total m-cap of Rs 10,50,000 crore ($240bn). The Rs 5,00,000 crore market-cap of the New Economy stocks represents as much as half of BSE's total capitalisation, though the share of these industries in the country's gross domestic product ($400 bn) is less than 10 per cent. That's change for you. -Economic Times