dkishore
08-12-2007, 02:32 PM
Sterlite Optical gains on S’pore listing talk
Sterlite Optical Technologies has been witnessing an amazing run-up on the bourses over the past one week. Speculation is rife that the optical cable manufacturer is planning to go in for a listing on the Singapore Stock Exchange.
According to market sources, the company will have an edge if it lists in Singapore as it is the landing hub and transit point for all major submarine cables. Company officials, when contacted, denied any such development.
“We do not have any plans to list overseas,” said a company spokesperson. The stock of Sterlite Opticals ended 8.6% up at Rs 356 on BSE on Friday. The stock has appreciated 16% over the past one week.
Funds accumulate beaten-down IT stocks
While a depreciating greenback has been taking the sheen out of IT counters, funds have been discreetly shoring up on IT stocks. The reason: all topline companies (including Infosys) are available at 17x-22x PE. Second-rung companies are also said to be available at extremely low valuations.
Interestingly, till some time ago, Infosys was available at twice the valuation that it commands today. According to market buzz, several market intermediaries (including funds) are buying beaten-down IT stocks in sizeable numbers. Infosys on Friday declared that it would be unaffected by a slowdown in the US. So, may the good times roll!
Sterlite Optical Technologies has been witnessing an amazing run-up on the bourses over the past one week. Speculation is rife that the optical cable manufacturer is planning to go in for a listing on the Singapore Stock Exchange.
According to market sources, the company will have an edge if it lists in Singapore as it is the landing hub and transit point for all major submarine cables. Company officials, when contacted, denied any such development.
“We do not have any plans to list overseas,” said a company spokesperson. The stock of Sterlite Opticals ended 8.6% up at Rs 356 on BSE on Friday. The stock has appreciated 16% over the past one week.
Funds accumulate beaten-down IT stocks
While a depreciating greenback has been taking the sheen out of IT counters, funds have been discreetly shoring up on IT stocks. The reason: all topline companies (including Infosys) are available at 17x-22x PE. Second-rung companies are also said to be available at extremely low valuations.
Interestingly, till some time ago, Infosys was available at twice the valuation that it commands today. According to market buzz, several market intermediaries (including funds) are buying beaten-down IT stocks in sizeable numbers. Infosys on Friday declared that it would be unaffected by a slowdown in the US. So, may the good times roll!