Bajaj GDR moves up

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.01 per cent to 1,198.13 in the early morning trades on Monday. Among the ISDI global depository receipts, three advanced and four lost ground.

The major gainers were Bajaj Auto, up 5.17 per cent to $23.80, Hindalco, up 1 per cent to $30.30, and Ranbaxy, up 0.95 per cent to $27. 66. The major losers were ITC, down 0.69 per cent to $28.95, State Bank of India, down 0.55 per cent to $36, and L&T, down 0.51 per cent to $23.38.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, edged up by 0.47 per cent to 1,198.20 on December 3 from the previous level of 1,192.55. The ISDI price to earnings multiple went marginally up by 0.57 per cent to 20.93 per cent from 20.81.

Among the ISDI GDRs and ADRs, there were eight gainers and seven losers and among the ISDI ADR, four ADRs advanced and four ADRs lost ground.

The major gainers were Dr Reddy's, up 4.32 per cent to $19.32, ICICI Bank, up 1.29 per cent to $18.90, and Satyam, up 0.38 per cent to $26.56. The major losers were Infosys, down 1.68 per cent to $67.91, MTNL, down 1.39 per cent to $8.50, and HDFC Bank, down 1.32 per cent to $41.74.

The GDRs of Bajaj Auto and Ranbaxy Labs firmed up to $23.80 and $27.75 respectively from the previous closes of $22.63 and $26.80 respectively.