L&T GDR up 3.40%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 2.00 per cent to 1,087.21 on November 4 at 5.00 pm IST. Among ISDI GDR stocks, 5 advanced, 1 remained unchanged and 1 lost ground.

The major gainers were L&T, up 3.40 per cent to $18.25, Hindalco, up 3.15 per cent to $27.80 registering volume of 520 GDRs and Ranbaxy, up 1.20 per cent to $25.30 registering volume of 349 GDRs. The only loser was SBI, down 1.04 per cent to $28.65 registering volume of 6,450 GDRs.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, advanced by 1.73 per cent to 1,080.75 on November 3 from the previous level of 1,062.41.

The ISDI price to earnings ratio also moved up by 1.41 per cent to 19.39 from 19.12, previously.

Among the ISDI GDRs and ADRs, there were ten gainers, four losers and one ruled steady. The ADRs of Wipro, Infosys Tech, Satyam Computer shot up to $22.33, $68.59, $27.37, respectively, from $21.20, $65.16 and $26.10, previously.

However, the ADRs of MTNL and VSNL dropped to $7.35 and $7.75, respectively, from $7.64 and $7.91, previously. The GDR of State Bank of India was also quoted lower at $27.40 as against $27.71.

Meanwhile, elsewhere in the world, in Japan the Nikkei Average rose 58.46 points to 10,946.27 and the broader Topix index gained 0.64 per cent to 1,101.89, on the news of Bush being re-elected for a second term. Both indices hit their highest closing levels since October 19 this year.

Morgan Stanley Capital International's Asia-Pacific Index, which tracks about 900 companies, rose 0.2 per cent to 93.20, set for its highest close since April 28 this year.

South Korea's Kospi index and China's indexes had the biggest declines in the region. Australia's stock index rose for an eighth day, the longest winning stretch in more than a year. Stock benchmarks rose in India and New Zealand, and fell elsewhere.