The Instanex Skindia DR Index (ISDI), which tracks 15 actively traded Indian depository receipts, advanced 1.10 per cent to 511.16 on Monday in early trades in London. Among Indian global depository receipts (GDRs), there were four gainers, three losers and 55 unchanged.
The Ranbaxy GDR rallied 1.74 per cent to $14.65 in early trades. ITC edged 1.11 per cent to $13.65, State Bank of India vaulted 1.06 per cent to $14.25 and Larsen & Toubro added 0.60 per cent to $8.35.
GDRs of State Bank of India were heavily traded in the morning session today, registering volumes of around 1,00,000. However, Hindalco eased 1.23 per cent to $12.05, Bajaj Auto shed 0.56 per cent to $10.75 and Reliance Industries dropped 0.40 per cent to $12.40. On Friday, ISDI finished by 0.88 per cent to 510.76. The ISDI P/E ratio also improved by 0.90 per cent to 10.85.
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Meanwhile, Indian securities listed on the US exchanges advanced on Friday. Infy, the Infosys Tech ADR, gained $1.80 to $61.80; Wit, the Wipro ADR edged up $1.13 to $30.38 and Say, the Satyam Computer ADR gained 18 cents to $10.52. There were strong gains in banks stocks too. IBN, the ICICI Bank ADR, added 14 cents to $7.11 and HDB, the HDFC bank ADR edged up 35 cents to $15.70.
Pharma major RDY, the Dr Reddy