ITC GDR up 1.76%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.71 per cent to 1273.94 on March 10, 2005 in early morning trades. Among ISDI global depository receipts, three advanced, one remained unchanged and three lost ground.

The major gainers were ITC, up 1.76 per cent to $31.85, Reliance, up 1.64 per cent to $28.45 and State Bank of India, up 0.70 per cent to $43.40. The major losers were Ranbaxy, down 2.31 per cent to $25.40 and Hindalco, down 0.72 per cent to $33.00.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, eased by 0.66 per cent to 1272.46 on March 9 from the previous level of 1280.93.

The ISDI price to earnings ratio also edged down by 0.80 per cent to 20.31 from 20.47, previously.

Among the ISDI GDRs and ADRs, there were eight losers and six gainers and one ruled steady and among ISDI ADRs, two ADRs advanced and six ADRs lost ground.

The major gainers were Dr Reddy's, up 1.96 per cent to $17.65 and MTNL, up 0.56 per cent to $7.23. The major losers were Satyam, down 2.51 per cent to $23.35, Infosys, down 2.39 per cent to $74.75 and HDFC Bank, down 1.62 per cent to $48.65.

The GDR of Hindalco also eased to $33.34 from $33.89. The GDRs of Ranbaxy and Reliance also moved up to $25.49 and $28.13, respectively, from $25.20 and $27.81, previously.