| The worlds most techno savvy bourse is now going all out to rope in Indian companies as part of its strategy to make inroads into China and India, which it feels are the two most highly rated emerging markets in the world. |
| The managing director of Nasdaq (Asia), Ghanashyam Dass told Business Standard that a host of Indian companies having GDR are talking to Nasdaq for converting them to ADRs. The exchange is confident about converting two of them soon. |
| He argued that in terms of liquidity, price performance and overall valuations, Nasdaq listed companies have performed much better than the Indian companies listed on European Exchanges such as Luxumberg and SEAQ & AIMS (LSE Platform / markets for listing non-UK companies). |
| Incidentally, Tata Motors has already converted its GDR in to ADR in NYSE. There are around 50 Indian companies currently listed in European exchanges. |
| Dass claimed that the Infosys, Rediff and Sify have even outperformed most of their Indian counterparts in NYSE in terms of appreciation in last one year. These three Indian companies are now listed in Nasdaq. |
| According Dass, Infosys appreciated by more than 35 per cent from $47.40 in December 2003 to $64.40 in early December 2004. During the same period, Rediff has appreciated by a whopping 96 per cent from $5.26 to $10.3 Sify has appreciated by around 32 per cent from $5.18 to $6.9. |
| "In any given day, the transaction in Infosys is twice than that of most Indian stocks in NYSE," he said. The combined market value of Infy in the last 11 months stands at around $ 1.73 billion. |
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