Bajaj Auto GDR up 2.10%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.41 per cent to 1139.88 on May 18, 2005 in early morning trades. Among ISDI global depository receipts, four advanced and three lost ground.

The major gainers were Bajaj Auto, up 2.10 per cent to $26.70 with volume of 5,000 GDRs, L&T, up 0.80 per cent to $23.81 with volume of 15,300 GDRs and Hindalco, up 0.74 per cent to $27.81.

The losers were SBI, down 2.32 per cent to $37.85 with volume of 4,665 GDRs, ITC, down 0.74 per cent to $33.50 and Ranbaxy, down 0.44 per cent to $22.85 with volume of 14,737 GDRs.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, edged down by 0.79 per cent to 1137.74 on May 17 as against 1146.77 on May 16.

The ISDI price to earnings ratio also eased to 18.09 from 18.24, previously. Among ISDI ADRs, 2 advanced and 6 lost ground.

The gainers were Infosys, up 0.91 per cent to $63.40. and Dr Reddy's, up 0.77 per cent to $15.70 with volume of 164,600 ADRs.

The major losers were ICICI Bank, down 1.53 per cent to $19.26 with volume of 362,100 ADRs, Videsh Sanchar Nigam , down 1.06 per cent to $9.35 with volume of 11,800 ADRs and Wipro, down 0.79 per cent to $18.78 with volume of 86,600 ADRs.

HDFC Bank fell to $41.61 from $41.80, MTNL to $6.10 from $6.12, Satyam to $22.28 from $22.43, among others.

Among GDRs, ITC moved down to $33.50 from $33.90, Ranbaxy to $22.60 from $22.95, Reliance to $24.20 from $25.08 and State Bank of India to $37.90 from $38.26.

Similarly, the GDRs of Bajaj Auto improved to $26.50 from $26.15 and Hindalco to $27.81 from $27.75.