Bajaj Auto GDRs up 4.33%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) gained 0.51 per cent to 1,005.41 on Christmas Eve in early morning trades in the western markets. Among ISDI global depository receipts, only four advanced and three lost ground.

The major gainers were Bajaj Auto up 4.33 per cent to $25.30, followed by L&T up 3.93 per cent to $22.50 with volumes of 29,000 GDRs and Reliance up 1.09 per cent to $27.80 with volumes of 10,800.

The losers were ITC down 4.44 per cent to $21.50 registering volumes of 15,00 GDRs, followed by State Bank of India down 0.96 per cent to $31 and Hindalco down 0.84 per cent to $29.55 with volumes of 2,940 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded companies closed up 0.02 per cent to 1,004.37 on December 23, 2003 and was trading at a price to earnings multiple of 19.47, same as on the previous day.