What Other Good Indian Stocks Can I Buy, Besides REDF and SIFY?
Infosys, Nasdaq ticker INFY, is the top dog for consulting in India, and one of the best of the world companies. The company market cap is $38 Billion. It is a steady performer, and is the reason why IBM et. al. are moving their consulting operations to India, they have to compete with the extremely smart guys at INFY and they just can't afford to do that on the developed world salaries.
Dr. Reddy's, RDY on NYSE, is a major generic drug manufacturing company. It is now looking into developing it's own pipeline of drugs, moving away from generics (low margin), to higher margin patentable drugs. The Drug sector in India is very small, and should rise considerably in the years to come.
Then there are two closed end Mutual funds which invest directly in India.
The Morgan Stanley India Fund, ticker IIF , is a good way to play the Indian domestic market. Backed by Morgan Stanley, you know that you have the power of one of the most venerable names in the Banking Industry behind you. See more info here.
IFN is the India Fund, run by a smaller shop in New York, Advantage Advisers Inc. See more info here.
Both IFN and IIF have given significant dividend distributions in 2005.
Sanjay John G.
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