Reliance GDR loses ground

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.25 per cent to 1,121.08 on Thursday in early morning trades. Among the ISDI global depository receipts, two advanced, four lost and one remained unchanged.

The major gainers were L&T up 1.31 per cent to $19.30 and Hindalco up 0.04 per cent to $28.49. The only loser was Reliance down 0.80 per cent to $23.80, Ranbaxy down 0.83 per cent to $23.80 and ITC down 0.18 per cent to $27.75.

The Instanex Skindia DR Index, representing the GDRs and ADRs of 15 actively traded companies, edged down by 0.14 per cent to 1,120.19 on November 24 from the previous level of 1,121.75.

The ISDI price to earnings ratio also moved down by 0.14 per cent to 19.96 from 19.99.

Among the ISDI GDRs and ADRs, there were nine gainers, five losers and one ruled steady and among ISDI ADR, five ADRs advanced, while three ADRs lost ground. The loser was ICICI Bank down 1.03% to $18.18.

The ADRs of VSNL and Infosys Tech firmed up to $9.17 and $65.97, respectively from $8.95 and $64.40 and MTNL also closed up 1.18 per cent to $8.57. The GDR of ITC also hardened to $27.51 from $25.95.

However, the GDR of Reliance and State Bank of India declined to $23.60 and $30.75 respectively from $24.90 and $31.75 previously.

The ADR of ICICI Bank eased to $18.18 from $18.37 previously, while Satyam Computer closed down 0.49 per cent to $26.20 and Dr Reddy's down 0.40 per cent to $17.55.