L&T GDR up 3.69 per cent

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 0.58 per cent to 1247.07 in the early morning trade on Monday. Among ISDI GDR stocks, 3 advanced and 4 lost ground.

The gainers were L&T, up 3.69 per cent to $26.70 with volume of 27,500 GDRs, Reliance, up 1.62 per cent to $27.22 with volume of 152,600 GDRs and ITC, up 0.98 per cent to $36.15 with volume of 5,000 GDRs.

The major losers were Ranbaxy, down 3.29 per cent to $25.00 with volume of 43,352 GDRs, Bajaj Auto, down 3.17 per cent to $28.45 and SBI, down 2.56 per cent to $39.95 with volume of 2,038 GDRs.

The Indian GDR's seem to be taking a cue from their underlines closed in the Bombay Stock Exchange (BSE). All the three gainers in early morning trade, ITC, Reliance and L&T ended firm on the Indian bourses. ITC was up 0.54 per cent to Rs 1,569.85, L&T ended 4.46 per cent higher at Rs 1,149.35 and Reliance Industries ended 0.47 per cent higher at Rs 569.40.

Among ISDI ADRs, 3 advanced and 5 lost ground. The gainers were VSNL, up 1.69 per cent to $10.25, HDFC Bank, up 0.07 per cent to $44.56 with volume of 157,700 ADRs and Dr Reddy's was up 0.06 per cent to $16.26 with volume of 138,200 ADRs.

The major losers were Wipro, down 1.42 per cent to $21.54 with volume of 87,000 ADRs, Infosys, down 1.30 per cent to $71.45 and Satyam, down 1.20 per cent to $24.60 with volume of 207,400 ADRs.

The Instanex Skindia DR Index was down 0.73 per cent to 1244.78 on Friday and was trading at a P/E of 19.81.