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$3.07 -0.02 (-0.65%)
10/10/2008 4:01 PM

Mahanagar Telephone Nigam Limited (ADR) (MTE)

CAPS Rating:
*****

The Company is the principal provider of fixed-line and other basic telecommunications services in Delhi and Mumbai. It also provides internet and cellular services in both Delhi and Mumbai.

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1

Avatar Scones (98.91) Submitted: 3/23/08 10:32 PM : Outperform Start Price: $4.85 MTE Score: 3.14

MTE is trading at a significant discount to book. Trading at a P/E of only 5 in an industry that averages more than 13. Servicing the booming economy of India makes this a no-brainer. From a technical perspective, MTE has been oversold recently.

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