ITC GDRs rise 2.93%

ADR/GDR REPORT

Indian global depository receipts (GDRs) traded firm on Monday in London. The Instanex Skindia DR Index (ISDI), which tracks 15 actively-traded Indian depository receipts, rose 1.35 per cent to 1,028.98 till mid-trading (5:00 pm IST).

ITC's GDR rose 2.93 per cent to $22.13. Ranbaxy's GDR surged 1.36 per cent to $26 and Larsen & Toubro's GDR nudged up 0.80 per cent to $22.68.

Key Asian stocks closed higher on Monday. Tokyo's benchmark Nikkei 225 average closed 0.8 per cent higher at 10,500.62, off the intra-day high of 10,574.

The broader Topix added 0.76 per cent to 1,026.24. Japanese banking stocks were among the biggest gainers. However, Taiwan and Hong Kong slipped.

In Seoul, the Kospi surged 0.46% to 792.44 after a shaky start. In Australia, the S&P/ASX200 rose 0.5% to 3,281.8. In Taiwan, the Taiex ended 0.89 per cent lower at 5,804.89. The market's biggest stock, chip foundry TSMC, was steady at T$62.00.

Hong Kong's Hang Seng index is 0.6 per cent lower to 12,381.33, with falls for China Mobile and Hutchison Whampoa. In Singapore, the Straits Times index is 0.75 per cent ahead to 1,743.14, with Singapore Airlines up 0.9 per cent and SingTel steady.

Meanwhile, Indian securities listed on the US markets settled firm in a shortened trading day on Friday. HDB, the HDFC Bank ADR rose $2.80 to $33.10, VSL, the VSNL ADR jumped 63 cents to close at $6.65.

While MTE, the MTNL ADR added 48 cents to $6.25 spurted. Other gainers included Sify, the Satyam Infoway ADR, which rallied 5 cents to $4.94.

Redf, the Rediff.com ADR added 6 cents to $5.56. Wit, the Wipro ADR vaulted 1 cent to $45.77. But Infy, the Infosys Tech ADR shed 58 cents to $87.28. and Say, the Satyam Computer ADR eased down 13 cents to $26.75.