Ranbaxy lone GDR gainer

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.64 per cent to 835.41 on Monday in early morning trades. Among ISDI global depository receipts, one advanced, one remained unchanged and five lost ground.

The only gainer was Ranbaxy, up 1.15 per cent to $21.90, registering volumes of 190,780 GDRs. The major losers were ITC, down 5.57 per cent to $19.50, registering volumes of 60,477 GDRs, Bajaj Auto down 1.80 per cent to $19.05, registering volumes of 4,959 GDRs and Hindalco, down 1.35 per cent to $20, registering volumes of 14,097 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively traded companies, closed down 3.23 per cent to 835.41 on the previous day and was trading at a price to earnings multiple of 15.22 (down by 3.23 per cent).

Among the ISDI ADRs, three advanced and five lost ground and among the ISDI GDRs and ADRs, there were 11 losers, three gainers and one ruled steady.

The gainers were HDFC Bank, up 0.57 per cent to $28.32, registering volumes of 269,800 ADRs, Satyam Computers, up 0.26 per cent to $19.54, registering volumes of 241,000 ADRs and Wipro, up 0.16 per cent to $44.40, registering volumes of 106,400 ADRs.

The major losers were MTNL, down 9.05 per cent to $5.83, registering volumes of 472,700 ADRs, Dr. Reddy's, down 5.07 per cent to $18.52, registering volumes of 652,900 ADRs and VSNL, down 3 per cent to $6.15, registering volumes of 126,900 ADRs.

The GDRs of ITC and State Bank of India fell to $19.50 and $24.45 respectively from $21.50 and $26.90 previously.

Meanwhile elsewhere in the world European stocks rose, led by energy shares. The FTSE Eurotop 100 Index increased 0.3 per cent to 2156.46 at 1 p.m. in London. The Eurotop 300 advanced 0.2 percent.

National benchmarks rose in five of the nine Western European markets open on Monday. France's CAC 40 Index added 0.3 per cent and Germany's DAX Index gained 0.4 per cent. Italy's Mib30 Index gained less than 0.1 per cent.