Hindalco GDR up 1.59%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.05 per cent to 1,115.84 on January 15, in early morning trades in the western markets. Among ISDI global depository receipts, only one advanced and six lost ground.

The only gainer was Hindalco, up 1.59 per cent to $32.00 registering volumes of 530 GDRs. The major losers were ITC down 4.76 per cent to $26.00 on volumes of 10,000 GDRs, Larsen & Toubro down 4.36 per cent to $25.20 on volumes of 10,000 GDRs and Reliance down 3.88 per cent to $31.00 on volumes of 111,533 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded scrips, closed up 0.59 per cent to 1,126.48 on the previous day and was trading at a price to earnings multiple of 21.64 (up by 0.66 per cent).

Among the ISDI ADR stocks four advanced and four lost ground. Among the ISDI ADRs and GDRs there were 11 gainers and four losers.

The gainers were HDFC Bank, up 3.69 per cent to $33.15 registering volumes of 83,900 ADRs and Satyam Computer up 3.19 per cent to $25.85 with volumes of 851,400 ADRs and MTNL was up 1.43 per cent to $7.81 with volumes of 224,600 ADRs.

The major losers were ICICI Bank down 2.32 per cent to $16.00 registering volumes of 1,307,700 ADRs, followed by Dr Reddy's down 1.77 per cent to $30.55 with volumes of 231,900 ADRs and Wipro down 1.57 per cent to $50.30 with volumes of 58,100 ADRs.

The GDR of State Bank of India also looked up to $42.40 from $41.01, previously.