ITC GDRs rises 2.05%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) gained 0.57 per cent to 979.41 in early morning trades on December 16, 2003. Among ISDI global depository receipts, five advanced and two lost ground.

The major gainers were ITC (up by 2.05 per cent to $23.63, registering volumes of 92,900 GDRs), followed by Reliance (up 1.81 per cent to $25.25, with volumes of 112,770 GDRs) and Bajaj Auto (up 1.11 per cent to $22.75 with volumes of only 400 GDRs).

The losers were L&T (down 1.02 per cent to $19.40, registering volumes of 24,700 GDRs) followed by Ranbaxy (down 1 per cent to $25.74).

On December 15, 2003, the ISDI, which represents the GDRs and ADRs of 15 actively traded companies, was up 0.58 per cent to 978.42. The price-to-earnings ratio was 18.95 (up 0.60 per cent).

Among ISDI American Depository Receipts, six advanced and two lost ground. The major gainers were VSNL (up 4.56 per cent to $5.96, registering volumes of 59,100 ADRs), followed by Wipro (up 2.23 per cent to $45.90 with volumes of 129,500 ADRs) and Infosys (up 2.02 per cent to $88.76).

The losers were Satyam Computers (down 3.37 per cent to $25.80, with volumes of 1,713,300 ADRs) and ICICI Bank (down 0.20 per cent to $14.75 with volumes of 399,600 ADRs).

Among the ISDI GDRs and ADRs, there were 13 gainers and two losers.

The ADRs of VSNL, Wipro and Infosys Technologies quoted higher to $5.96, $45.90 and $88.76, respectively, as against $5.70, $44.90 and $87.00 previously.