Reliance GDR down 3.45%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 2.38 per cent to 848.24 on Thursday in early morning trades in the western markets. Among ISDI global depository receipts, one remained unchanged and six lost ground.

The major losers were Reliance, down 3.45 per cent to $21 registering volumes of 9401 GDRs, SBI, down 2.81 per cent to $22.11 registering volumes of 52374 GDRs and Ranbaxy down 2.61 per cent to $20.50.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, declined sharply by 2.39 per cent to 851.77 on the previous day. Similarly, the ISDI price to earnings ratio slumped by 2.47 per cent to 15.60 from 15.99 on the previous day.

Among the ISDI GDRs and ADRs, there were 10 losers, while only three managed to close higher. However, two held steady, whereas on the previous day the trend was firm and there were 12 gainers against three losers. Among the ISDI ADRs one advanced and seven lost ground.

The top ADR losers were Wipro which fell by 5.63 per cent to $15.08 from the previous level of $15.98 with volumes of 197,800 ADRs and Satyam Computer which declined by 5.55 per cent to $18.20 from $19.27 with volumes of 118,400 ADRs. The GDRs of SBI dropped by 4.83 per cent to $22.25 from the previous day's level of $23.38.

On the other hand, the GDRs of Hindalco and Ranbaxy closed better at $23.60 and $21.1 respectively from the previous level of $23.41 and $20.96. Meanwhile, the ADRs of HDFC Bank rose to $27.14 from the last level of $27.03 with volumes of 18,300 ADRs.