Bajaj Auto GDR up 2.81%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.22 per cent to 1265.89 on March 14, 2005 in early morning trades. Among ISDI global depository receipts (GDRs) three gained, one remained unchanged and three lost ground.

The major gainers were Bajaj Auto, up 2.81 per cent to $25.60, Hindalco, up 1.80 per cent to $34.00 and ITC, up 0.65 per cent to $31.00. The major losers were Ranbaxy, down 0.80 per cent to $24.80, Reliance, down 0.72 per cent to $27.60 and State Bank of India, down 0.46 per cent to $43.30.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, eased further by 0.41 per cent to 1266.06 on March 11 from 1271.27 on March 10.

The ISDI price to earnings ratio also edged down further by 0.46 per cent to 20.16 from 20.25, previously.

Among the ISDI GDRs and ADRs, there were nine losers, four gainers and two ruled steady and among ISDI ADRs, two ADRs gained and six lost ground.

The major gainers were ICICI Bank, up 0.98 per cent to $20.60 and HDFC Bank, up 0.92 per cent to $48.24. The major losers were Dr Reddy's, down 2.21 per cent to $17.2, Wipro, down 1.91 per cent to $21.10 and Infosys, down 1.80 per cent to $74.40.

The GDR of ITC dropped to $31.00 from $31.75, previously. The GDR of State Bank of India also inched up to $43.50 from $43.25.