Infy, Satyam, Wipro ADRs at new highs

Three Indian American Depository Receipts (ADRs) ""Infosys Technologies, Satyam Computer and Wipro "" crossed milestones on January 2, 2004, yet again.

Satyam Computer hit an all-time high of $32.30 on the New York Stock Exchange (NYSE), and its market capitalisation crossed $5 billion to touch $5.14 billion.

The Nasdaq-listed Infosys Technologies' ADR touched $100.53 in intra-day trades, but closed a tad below at $99.30.

Wipro, listed on the NYSE, crossed the $50 mark to close at $51.70. The Wipro ADR touched $52 in intra-day trading.

The Satyam ADR has been gaining since it was listed on the NYSE in May 2001. In the last three months, its price has appreciated 150 per cent, from $12.90 on September 30, 2003, to $32.30 on January 2, 2004.

The Infosys ADR price has shot up to nearly $100 rapidly. In June 2003, it was languishing at $50, but it had touched an all-time high of $168.88 on August 22, 2000.

The Infosys ADR gained 4.09 per cent on January 2 and 13.77 per cent in the last four trading days. Its price has doubled in the past six months.

The Wipro ADR price, too, has doubled in the past six months, from $24.40 on August 27, 2003.