Posts for Ticker ‘REDF’

India Election Winners By ETF & Shares (PIN, EPI, IIF, IFN, INP, INFY, IBN, REDF, SAY, SLT, TTM, WIT)

India MapIt is rare that you see an election have this large of an impact, but the Indian stock market surged on the new election results.  The Congress Party won a decisive victory in India and this sent Indian stocks up 17% on average.  The move was so large that the Bombay Stock Exchange had to close after already seeing one halt.  This had a huge impact on stocks, which you can see reflected in the share prices in the high pre-market indications of the major ETF’s, closed-end funds, and active ADR’s listed below.

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Posted on: May 18, 2009 – 8:19 am in ADR, ETF, Emerging Markets, Index, Mutual Funds, Politics, Trading Alert, , , , , , , , , , ,

Indian ADR’s Unphased By Terror Attacks (INFY, IBN, REDF, SAY, SLT, TTM, WIT)

India_map_imageFresh attacks that appear to be targeted against foreigners in Mumbai, India have failed to thwart a market rally today even in Indian stocks.  Reports have foreigners being taken hostage at premiere hotels frequented by the wealthy and by business travelers and some 60 deaths have been reported.  Interestingly enough, this has also failed to take out the wind of the Indian ETF’s and Indian ADR’s which are actively traded here in the US.  Stock Moves in ADR’s:

  • Infosys Technologies Ltd. (NASDAQ: INFY) up 6.3% at $24.61
  • ICICI Bank (NYSE: IBN) down 2.7% at $13.26 (had been up before)
  • Rediff.com India Ltd. (NASDAQ: REDF) up 5.6% at $2.06
  • Satyam Computer Services (NYSE: SAY) up over 3% at $12.78
  • Sterlite Industries (NYSE: SLT) up 7% at $4.80
  • Tata Motors (NYSE: TTM) down 2.3% at $4.59 (was down most of day)
  • Wipro Ltd. (NYSE: WIT) up 4.3% at $7.48

We also added in an after-report list to the ETF’s and closed-end funds we track to show a broad interest as well.

Jon C. Ogg
November 26, 2008

Posted on: November 26, 2008 – 3:17 pm in ADR, Emerging Markets, , , , , , ,

Are Google (GOOG) And Yahoo! (YHOO) Buying Into India?

The Hindustan Times is reporting that Yahoo! (YHOO) and Google (GOOG) may be making bids for Indian web portal Rediff (REDF). The price would be as high as $1 billion. The news comes at the same time that Barron’s warns that the price of Indian net companies may becoming much too high. The magazine says that Rediff’s market cap is 13X the size of the entire online ad market in the country.

But, Google and Yahoo! may feel that they cannot afford to make the same mistake that they did in China where market leader Baidu (BIDU) has taken a significant lead, especially in the search area. Both of the US companies have tried to take share from Baidu, but without any success.

As in other bidding for new business, Google has the advantage that its earnings are less likely to be diluted because they are so much larger than Yahoo!’s. Also Google has more "capital" with a market cap of $172 billion compared to Yahoo! at $36 billion.

No one should be surprised it Google buy Rediff. It makes too much sense.

Douglas A. McIntyre

Posted on: July 16, 2007 – 4:14 am in Uncategorized, , , ,