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Satyam Info creates ripples on NASDAQ - Views on News from Equitymaster
 
 
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  • Oct 20, 1999

    Satyam Info creates ripples on NASDAQ

    Satyam Infoway opened on the NASDAQ at US$ 46, a premium of 153% to the issue price of US$ 18. This was reported by a leading financial newspaper.

    Satyam Infoway (59% subsidiary of Satyam Computers) was the first private sector company to break into the ISP (internet service provider).business. It is the second largest Indian ISP, after Videsh Sanchar Nigam Ltd. (VSNL). As on 30th September 1999, the company offered internet services in 27 Indian cities, with a total subscriber base of 87,000 Internet subscribers.

    The enthusiasm in Satyam Info's stock seems be extension of the general air of feelgood that is attributed to the current Indian ADRs - Infosys and ICICI. Excitement in Satyam Info's ADR is credited to several factors, chief among which is the backing a credible parent (Satyam Computers). According to analysts, the company also compares favourably to its Asian peers - Pacific Internet and Internet Initiative. Analysts are also bullish about Satyam's fortunes since it has a private data backbone, which enables it to network services.

    International analysts expect more offerings from Indian technology and Internet companies in future. They are very positive on India, given the fact that the country is relatively insulated from the volatility elsewhere and has a booming domestic country.

     

     

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