Business Standard

L&T, Bajaj Auto GDRs surge

ADR/GDR REPORT

Image

Our Markets Bureau Mumbai
The Instanex Skindia DR Index (ISDI) was up 0.27 per cent to 948.28 on March 24 in early morning trades in the western markets.
 
Among ISDI global depository receipts, two advanced, one remained unchanged and four lost ground. The gainers were L&T up 1.03 per cent to $24.60 registering volume of 4,400 GDRs and Bajaj Auto up 0.97 per cent to $20.80 registering volume of 2,085 GDRs. The major losers were SBI down 1.45 per cent to $34.00 registering volume of 11,900 GDRs, ITC down 1.20 per cent to $24.70 registering volume of 46,500 GDRs and Hindalco down 0.49 per cent to $28.40 registering volume of 15,000 GDRs.
 
The ISDI, which tracks the ADRs and GDRs of 15 actively-traded companies closed 0.04 per cent to 951.34 on the previous day and the ISDI price to earnings multiple was trading 17.13 (down by 0.45 per cent).
 
Among ISDI ADRs all eight advanced and among the ISDI ADRs and GDRs, there were 12 gainers, two losers and one ruled steady. The major gainers were Dr Reddy's up 2.09 per cent to $23.99 registering volumes of 127,000 ADRs, VSNL up 1.61 per cent to $8.19 registering volumes of 123,700 ADRs and Wipro down 1.17 per cent to $40.57 registering volumes of 39,000 ADRs.
 
The GDR of Larsen & Toubro firmed up to $24.70 from $24.35, previously. However, the GDRs of Reliance and State Bank of India declined to $26.73 and $34.30, respectively, as against $28.00 and $34.50, previously.
 
Meanwhile, elsewhere in the world US stocks are set for a flat to weaker opening on Wednesday, as there are nagging concerns about potential attacks while the health of the economy offset a stronger-than-expected durable goods report. Standard & Poor's 500 stock index futures for June were off 0.10 point at 1,091.20, while Nasdaq 100 futures for the same month edged up 0.50 point.
 
to 1,372. Dow industrials futures were off 2 points at 10,025.

 
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 25 2004 | 12:00 AM IST

Explore News