Hindalco GDR up 2.29%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 1.23 per cent to 933.14 on September 14 in early morning trades in the western markets.

Among ISDI global depository receipts (GDRs), three advanced and four lost ground.

The gainers were Hindalco, up 2.29 per cent to $26.30, registering volume of 3,000 GDRs, Ranbaxy, up 2.29 per cent to $24.10, registering volume of 60,000 global depository receipts and SBI, up 0.87 per cent to $23.25, registering volume of 15,000 GDRs.

The major losers were L&T, down 0.55 per cent to $18.05, registering volume of 2,431 GDRs, ITC, down 0.34 per cent to $23.77, registering volume of 3,000 GDRs and Reliance, down 0.14 per cent to $22.12, registering volume of 44,250 GDRs.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, advanced further by 1.60 per cent to 931.61 on September 13 as against the previous level of 916.89. The ISDI price to earnings multiple ratio also looked up by 1.39 per cent to 17.01 from 16.78, previously.

Among the ISDI GDRs and ADRs, there were nine gainers and six losers and among ISDI ADRs, five advanced and three lost ground. The major gainers were Dr Reddy's Labs, up 4.39 per cent to $17.60, Infosys, up 3.08 per cent to $56.62 and ICICI Bank, up 1.15 per cent to $13.15.

The losers were Wipro, down 1.32 per cent to $17.95, MTNL, down 0.31 per cent to $6.33 and HDFC Bank, down 0.31 per cent to $29.27.

The GDRs of Ranbaxy Labs and ITC shot up to $23.61 and $23.77, respectively, from $22.45 and $23.00, previously.

The GDRs of State Bank of India and L&T eased to $23.25 and $18.00, respectively, from $23.49 and $18.15, yesterday.