Analysts shun India stocks despite enticing numbers
Article Abstract:
Fund managers are warning investors against being lured by the attractive figures shown by the Indian economy. In particular, they are advising investors to adopt a wait-and-see attitude for at least two months. India's economy is forecast to grow by over 5% during the fiscal year that ends in Mar. 1995, while auto sales are predicted to post an increase of almost 30%. Steel output is also expected to shoot up by over 9% and corporate after-tax profits ballooned by a hefty 104% during the six-month period that ended Sep. 30, 1994.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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India premier under pressure to shuffle cabinet following recent election losses
Article Abstract:
Indian Prime Minister P.V. Narasimha Rao has decided to reorganize his cabinet as a way of appeasing voters who have rejected his party's candidates in recent elections and preventing the opposition from capitalizing on its concerted attacks on his administration for its alleged corruption. Rao terminated the services of three ministers and a chief rival to his post, Human Resources Development Minister Arjun Singh. He also affirmed his commitment to further trade liberalization.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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India's ITC, citing divergent agendas, resists B.A.T.'s move to increase stake
Article Abstract:
ITC Ltd. has opposed the move by British-American Tobacco Co., its biggest shareholder to strengthen its hold on the company via an increase in share from the current 31.4% to 51%. The shareholder operates under B.A.T. Industries PLC. ITC's refusal to permit the company to expand its shares lies in the fear that UK-based B.A.T. may not necessarily share the same corporate mission which is to make ITC a diversified multinational corporation.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Comment about this article or add new information about this topic:
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