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

To: Mohan Marette who wrote (4228)	5/8/1999 4:30:00 AM
From: Nandu	Respond to of 12475

Arbitrage opportunity? According to a headline at indiaworld.co.in NRIs allowed to take shares in return for GDRs (BS) The (BS) must mean Business Standard. However I did not see the full story browsing around at business-standard.com. If it is true that NRIs can freely convert GDRs (and ADRs) to shares tradable on Indian exchanges, it will provide an arbitrage opportunity, because GDRs and ADRs usually trade at a discount to the Indian share price. The first rule of arbitrage is don't tell anybody. I guess I have broken that already. <vbg>