Hindalco, SBI GDRs rise

ADR/GDR Report

 In early trades at London, the ISDI remained largely unchanged at 888.40 on November 11, 2003. Among ISDI global depository receipts, only four advanced and two lost ground.

 The gainers included Hindalco (up 3.78 per cent to $27.25), Ranbaxy (up 1.89 per cent to $24.25) and State Bank of India (up 1.24 per cent to $31).

 The losers were Reliance (down 2.09 per cent to $23.40) and Bajaj Auto (down 0.74 per cent to $20.05). Telco was heavily traded in the morning session today, registering volumes of over 300,000 GDRs.

 On November 10, 2003, only two of the eight ISDI American Depository Receipts advanced. The only gainers were VSNL (up 3.69 per cent to $5.90) registering volumes of 165,200 ADRs and Satyam Computers (up 1.78 per cent to $20) on volumes of 947,100 ADRs. The major losers were MTNL (down 2.33 per cent to $5.04) Infosys down 2.32 per cent to $84.98.