Four ADRs at all-time highs

Indian American depository receipts (ADRs) are making a splash. Four ADRs, Dr Reddy's Laboratories, HDFC Bank, ICICI Bank and Satyam Computer, hit all-time highs on Monday on the Nasdaq and the New York Stock Exchange (NYSE) while the ADRs of Infosys Technologies and Wipro closed at more than two-year highs.

The ADRs of Dr Reddy's closed at $32.14, the HDFC Bank ADR closed at $32.57, ICICI Bank ADR at $17.91 on NYSE and Satyam Computer closed at $29.99 on the Nasdaq.

The ADRs of Infosys closed at $91.50, its best close in two-and-a-half years and so. So was the case of Wipro ADR which closed at $48.69. The Mahanagar Telephone Nigam Ltd (MTNL) ADR closed a 52-week high at $6.16.

All IT sector ADRs appreciated during the last month. The Satyam Computer ADR appreciated 47 per cent from $20.40 on November 26 to $29.99 on December 29.

The Wipro ADR increased 31.4 per cent to $48.69 ($37.05) and Infosys Technologies ADR gained 11.7 per cent to $91.50 ($81.92).

The ICICI Bank ADR has appreciated 36.6 per cent from $13.11 on November 26 to $17.91 on December 29, HDFC Bank ADR 25.9 per cent to $32.57 ($25.87), MTNL by 22 per cent to $6.16 ($5.07) and Dr Reddy's Laboratories by 17.8 per cent to $32.14 ($27.29).

On the Bombay Stock Exchange (BSE), the HDFC Bank, ICICI Bank and Dr Reddy's Laboratories shares are quoted at their lifetime highs on Monday.

While Infosys Technologies, Satyam Computer scrips are quoted at more than two-year highs, the MTNL and Wipro scrips are ruling at more than one-year highs on the BSE.

The HDFC Bank scrip closed at Rs 372.85 on the BSE, with the stock appreciating 23 per cent in the last one month from Rs 302.80 on November 25.

During the same period, the ICICI Bank scrip has gained 26 per cent to Rs 301.90 (Rs 240.55) and Dr Reddy's Laboratories by 17 per cent to Rs 1,458.20 (Rs 1,244.40).

The Infosys stock closed at Rs 5,489.10 on Monday, posting 16 per cent gains in the last one month from Rs 4,733.15. The Wipro stock has gained 21 per cent to Rs 1,753.50 (Rs 1,449.25), Satyam appreciated by 15 per cent to Rs 370.60 (Rs 323.45), while the MTNL scrip has appreciated 22 per cent to Rs 134.65 (Rs 110.75).