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Usha Beltron to foray into ISP business - Views on News from Equitymaster
 
 
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  • Mar 6, 2000

    Usha Beltron to foray into ISP business

    Usha Beltron of the Jhawar group is in talks for acquiring a stake in Caltiger.com Calcutta’s private Internet Service Provider (ISP).

    Usha Beltron is engaged in the manufacture of fibre cables. The company had extremely poor return ratios for the year ended March 1999 with return on capital aggregating around 5%. This seems one more example of the old economy companies wanting to be a part of the new economy so as to enjoy the valuations given to the latter.

    The competition in the ISP business is hotting up with players like MTNL and VSNL engaged in a price war. Satyam Infoway, the first private ISP is focusing on improving the content it offers while players such as Rolta have tied up with Rediff for offering content. Major players such as Zee and Wipro have plans to enter the business mainly to complement their existing businesses.

    It is quite possible that the Jhawar group sees an opportunity for investing in an existing ISP business and then selling out when more serious players look out for acquisitions. This is because the spread of the ISP business to other cities would require upfront investment.

    A player such as Wipro, which has a very strong record in the software business, has set up an ISP venture via a separate joint ventures with reputed partner such as Royal Dutch Telekom. The Tatas have planned to make a foray into the business by takeover the existing ISPs.

    Market View:
    The stock of Usha Beltron has seen a run up over the past three months primarily on account of rumours into the company’s foray into software. At present, analysts have however put the stock on ‘hold’ since sentiment seems to have run ahead of fundamentals.

     

     

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