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

To: Senor VS who wrote (3610)	1/28/1999 11:03:00 PM
From: Mohan Marette	Respond to of 12475

Corporate news continued.... Ravi: Thanks for the warning, I know all the banks are in the dog-house now just like all the software house are richly valued.I don't know,I am doing some research on SBI (the only scheduled bank I will consider),Federal Bank (Book value=Rs165,current price approx=Rs. 40.00,P/E less than 4 i think) and Bank Of Madura,I am not sure I buy any but will look at them any way. =========================== Colgate Q3 net profit down 48% COLGATE Palmolive (India), the subsidiary of Colgate Palmolive Inc, USA, has reported a 48 per cent fall in net profit for the third quarter of 1998-99. This is despite a moderate increase in turnover during the quarter, reflecting an erosion in its profit margins. P&G Q2 net rises 45% Sales grew by six per cent to Rs 138 crore ($32m) from Rs 130 crore ($33m) in the corresponding last year period. Sales for the half year ended December 31, 1998 were at Rs 256 crore ($60.25m), a rise of eight per cent from Rs 237 crore ($60.3m) in the last financial year period. Indo Gulf Q3 net profit rises 3.5% INDO Gulf Corporation has recorded a net profit of Rs 46.5 crore ($10.9m) for the third quarter of the current financial year, an increase of 3.5 per cent over Rs 44.9 crore ($11.4m) recorded in the corresponding period of the previous year. Bata net jumps 78% in FY98 BATA India has posted a 78 per cent rise in net profit at Rs 29.52 crore during the year ended December 31, 1998. The spurt in profits is after a one-time charge of Rs 5.83 crore under Kar Vivad Samadhan Scheme. economictimes.com

To: Senor VS who wrote (3610)	1/29/1999 10:17:00 PM
From: Mohan Marette	Respond to of 12475

India Business NewsBytes Ravi: Some interesting business headlines from India,don't have the details yet. =============================== STPI-CMG plan to focus on component software Software Technology Parks of India (STPI) has entered into a strategic alliance with the US-based Component Management Group (CMG) to position India as a destination for component technology advancement in south Asia. A component is a software module that publishes or registers its interfaces. A component system would thus facilitate reuse of framework. Only 30% possess Net connection at premises A mere 30% of businesses in India which have the means to access the internet have a Net connection at their premises, according to a study undertaken by the Indian Market Research Bureau (IMRB). Establishments with more than 50 employees at their premises have more than 40% penetration of internet. Videocon set to launch tv.comp It is christened tv.comp and aspires to be the country's first multimedia computer with a 25 inch colour television screen. This latest offering from electronics and consumer goods major Videocon International is to be launched in all metro cities within the next fortnight and is expected to create an entirely new niche for itself. Is software tag a ticket to fortune? While the year 1998 saw investors and fund managers jumping on to the bandwagon to participate in the software rally, as many as 21 companies have changed their names to cash in on the software frenzy. While the Bombay Stock Exchange (BSE) issued a notice on January 25 cautioning investors, the exchange has further decided to bring out a comprehensive list of companies who have changed their names to suggest that their business interest is in software industry. Punters hurry to liquidate software holdings Taking a cue from the precautionary messages flashed by Sebi and Bombay Stock Exchange (BSE) investors rushed to liquidate their holdings in the software sector. Info-tech stocks listed on the non-specified category of the BSE were the worst hit with operators selling huge chunks in the open market. 'There is no blind run at software counters' The rise in the prices of information technology (IT) stocks is quite natural and there is nothing to be worried about, according to the chief operating officer of NIIT Ltd, P Rajendran. Rajendran said that the IT stocks rally on the bourses is related to the strong fundamentals. VSNL seeks tax relief on internet services income A major dispute has arisen over whether revenue earned by an Internet service provider qualifies for deduction under Section 80-IA of the Income Tax Act. At the centre of the dispute is a Rs 10-crore deduction claim sought by Videsh Sanchar Nigam (VSNL), till recently the sole Internet-service provider in the country. Govt confused over VSNL GDR fee structure Government seems to be in utter confusion over the Videsh Sanchar Nigam Ltd (VSNL) offering on account of the reported dissensions within the two global co-ordinators, on matters related to the fee structure, the issue pricing and the schedule for the roadshows. It was learnt that the two bankers for the international offering - Salomon Smith Barney and C S First Boston - had urged the cabinet secretary last week to bring about a rise in the fee structure. VSNL staff plan stir to stall GDR issue A Videsh Sanchar Nigam (VSNL) joint action committee (JAC) press release stated that the committee plans to create further agitation from February 2, 1999, for stalling the VSNL decision to launch its second global depository receipt (GDR) issue, without allotting preference shares to the staff. MTNL to kick off Internet price war Mahanagar Telephone Nigam has decided to undercut Videsh Sanchar Nigam Ltd's Internet tariff by as much as 30%. The move could trigger a major price war between the two government-controlled telecom giants. MTNL board of directors will meet on Friday to finalise the pricing of its much awaited "Bharat On Line" Internet service. DoT to issue international gateway licences The Department of Telecommunications will issue two licences for international gateways to two private parties by March this year. Such licences will be issued to private sector based within the country except Jammu & Kashmir, the National Association of Software and Service Companies (Nasscom) president Dewang Mehta said. Infosys chooses Nasdaq for listing US issue Infosys Technologies has chosen Nasdaq for listing its forthcoming issue in the US. Being a technology company, getting listed on Nasdaq, where majority of IT companies are listed, over the New York Stock Exchange, was more appropriate, according to N R Narayana Murthy, Chairman and Chief Executive of the company. Karvy plans IT services abroad Karvy Consultants, a registrar and share transfer company, has entered the information technology services sector to take advantage of the demand for medical transcriptions in the US. The company has entered into an agreement with CBay Systems, a Delaware corporation, to provide medical transcription facilities from its head office at Hyderabad. Pvt ISPs to get nod soon The Government is likely to give clearance soon to private Internet service providers (ISPs) who have applied to set up international gateways, according to Dewang Mehta, President, Nasscom. Speaking at the international software business conference, Nasscom '99, he said, the recently announced IT policy had already allowed private parties to set up gateways to provide international connectivity. VisualSoft (India) posts Rs 3.22 cr profit in Q3 VisualSoft (India) has posted a total income of Rs 8.39 crore with a net profit of Rs 3.22 crore for the third quarter ended December 31, 1998, compared to the total income of Rs 2.86 crore and a net profit of Rs 85 lakhs in the same period last year. The income from software exports and other income for the nine months ended was Rs 19.82 crore with a net profit of Rs 7.13 crore. Compaq plans Deskpaq Service for corporates Software major, Compaq India is all set to unvail its latest offering- the Deskpaq Service under its FutureSourcing Solutions umbrella.The Company mainly targets the corporates, with minimum 50 PCs, as the servise seeks to offer software and support services on payment of a fixed monthly service fee. TCS to shift few projects to Salt Lake complex Tata Consultancy Services (TCS) is set to shift a few projects to the Rs 40-crore software development unit at its Salt Lake complex in the first quarter of the next financial year. The Salt Lake complex built at a cost of Rs 25 crore, is likely to serve as the TCS group's competence center for implementing software projects on Digital Compaq platforms like Alpha and Vax.

To: Senor VS who wrote (3610)	1/30/1999 9:32:00 AM
From: Mohan Marette	Read Replies (3) \| Respond to of 12475

ICICI net dips 6.3% to Rs 208 cr Ravi: Here is some news which might be of interest to you since you own the stock. Our Mumbai Bureau -------------------------------------------------------------------------------- 29 JANUARY NET profit of ICICI Limited has dipped by 6.3 per cent from Rs 222 crore ($56.53m) in the quarter ended December 31, 1997 to Rs 208 crore ($48.95m) for the third quarter ended December 31, 1998. But excluding an extraordinary income of Rs 14 crore in the third quarter of 1997-98, net profit has remained unchanged. Net profit for the first nine months at Rs 726 crore ($170.86m) represents a rise of one per cent over the corresponding period last year. economictimes.com

To: Senor VS who wrote (3610)	2/1/1999 10:17:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Microsoft 'Office 2000' & 'Windows 2000' Hindi version to be launched by Dec'99! Ravi: Get a load of this,interesting & exciting stuff. ================================= Pune 1 FEBRUARY -------------------------------------------------------------------------------- Microsoft, which will globally launch Office 2000 by June and Windows 2000 sometime in 1999, will also be able to offer a Hindi version of Office 2000 by December. Later, it will introduce a Devanagari script which will support Marathi, Gujarati and Sanskrit, Karthik Padmanabhan, marketing manager, desktop applications & operating systems, Microsoft Corporation India Pvt Ltd said. Microsoft and Seagate Technology Inc are jointly holding a six-city road show, 'Technology Exposition '99', to demonstrate their technologies for the future. Pune was their second city after Ahmedabad. The others to be covered are Hyderabad, Lucknow, Chandigarh and Kochi. economictimes.com