Reliance GDR up 1.19%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 1.06 per cent to 882.35 on September 2, 2004 in early morning trades in the western markets. Among ISDI global depository receipts, five advanced, one remained unchanged and one lost ground.

The major gainers were L&T up 1.37 per cent to $18.50 registering volume of 1,000 GDRs, Reliance up 1.19 per cent to $21.30 registering volume of 48,000 GDRs and Bajaj Auto up 0.50 per cent to $20.20 registering volume of 1,200 GDRs. The only loser was Ranbaxy down 0.24 per cent to $21.00.

Instanex Skindia DR Index was up 1.29 per cent to 882.07 on September 1, 2004 was trading at a price to earnings multiple of 16.16 (up by 1.25 per cent).

Among ISDI ADRs, six advanced, one remained unchanged and one lost ground and among the ISDI GDRs and ADRs, there were twelve gainers, one loser and two ruled steady.

The major gainers were Infosys up 2.42 per cent to $53.39, HDFC Bank up 1.57 per cent to $28.55 with volumes of 35,700 ADRs and Dr. Reddy's Lab up 1.27 per cent to $16.00 with volumes of 105,500 ADRs. The only loser was MTNL down 0.15 per cent to $6.55 registering volume of 18,400 ADRs.

The GDRs of Larsen and Hindalco shot up to $ 18.25 and $25.25 respectively from $17.65 and $24.80 previously.