Bajaj Auto GDR up 3.41%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.41 per cent to 1,042.12 on April 27 in early morning London trades. Among ISDI global depository receipts (GDRs), two advanced and five lost ground.

The gainers were Bajaj Auto up 3.41 per cent to $21.20 and Reliance up 2.75 per cent to $28.00 registering volume of 32,705 GDRs.

The major losers were L&T down 4.71 per cent to $26.70 registering volume of 2,600 GDRs, Hindalco down 4.14 per cent to $28.50 registering volume of 115,795 GDRs and SBI down 2.19 per cent to $40.25 registering volume of 20,243 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded companies declined sharply by 2.79 per cent to 1,046.43 on the previous day. The ISDI price to earnings multiple also fell by 2.79 per cent to 18.48 from 19.01, previously.

Among the ISDI GDRs and ADRs, there were 11 losers, one gainer and three ruled steady. The GDRs of Reliance dropped to $27.25 from $29.60 previously. The ADRs of ICICI Bank and MTNL also fell to $16.52 and $8.28, respectively from $17.25 and $8.63, previously.

However, the GDR of Hindalco edged up to $29.73 from $29.50, previously.

Meanwhile, US stocks are set to open weaker on Tuesday, following losses in the previous session, as investors weigh generally good corporate profits with worries over interest rates and security.

Share prices fell on Monday despite another clutch of upbeat profit reports, as investors focused instead on when the Federal Reserve will move to raise interest rates as the economy gathers steam.

On Monday, the Dow Jones industrial average eased 28.11 points, to 10,444.73. The Standard & Poor's 500 Index ended off 5.12 points, at 1,135.48. The Nasdaq Composite Index gave up 13.00 points, to 2,036.77.