Bajaj Auto GDR up

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 1.29 per cent to 945.17 on Wednesday in morning trades.

Among ISDI global depository receipts (GDR), five advanced and two lost ground. The major gainers were Bajaj Auto up 2.44 per cent to $20.15 registering a volume of 1,800 GDRs, State Bank up 1.08 per cent to $23.50 and a volume of 87,500 GDRs and Hindalco up 0.72 per cent to $26.49 and a volume of 12,860 GDRs.

The losers were Ranbaxy, down 0.50 per cent to $23.98 and a volume of 26,370 GDRs and ITC down 0.08 per cent to $23.75.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, firmed up by 1.55 per cent to 946.01 on September 14 as against the previous level of 931.61.

The ISDI price to earnings ratio also looked up by 0.93 per cent to 17.17 from 17.01 previously.

Among the ISDI GDRs and ADRs, there were 12 gainers and three losers and among ISDI ADRs, six advanced and two lost ground.

The major gainers were MTNL up 5.69 per cent to $6.69 and a volume of 123,100 ADRs, Satyam Computer up 4.53 per cent to $24.25 and a volume of 493,300 ADRs and Infosys up 2.98 per cent to $58.31.

The losers were Dr Reddy's down 2.56 per cent to $17.15 and a volume of 142,100 ADRs and HDFC Bank down 0.51 per cent to $29.12 and a volume of 15,000 ADRs.

The GDR of ITC also fell to $23.75 from $23.77.

Meanwhile, elsewhere in the world US stocks looked up to open lower on Wednesday as concerns about Hurricane Ivan weighed on sentiments.

On Tuesday the Dow Jones industrial average closed up 3.40 points, or 0.03 per cent, at 10,318.16. The Standard & Poor's 500 Index finished up 2.51 points, or 0.22 per cent, at 1,128.33.

The technology-laced Nasdaq Composite Index gained 5.02 points, or 0.26 per cent, at 1,915.40.

On Wednesday morning, S&P 500 futures were slightly lower, standing nearly one point below fair value pointing to a lower open.