L&T GDR up 5.26%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.20 per cent to 1,279.75 in the early morning trades on March 01, 2005. Among the ISDI global depository receipts, two advanced, three remained unchanged and two lost ground.

The major gainers were L&T up 5.26 per cent to $26 on volumes of 12,250 GDRs and Ranbaxy up 1.93 per cent to $23.75 on volumes of 25,418 GDRs.

The major losers were State Bank of India down 3.38 per cent to $44.25 on volumes of 27,700 GDRs and Hindalco down 3.01 per cent to $31.25 on volumes of 5526 GDRs.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, edged up further by one per cent to 1,281.27 on February 28 from the previous level of 1,268.59.

The ISDI price to earnings ratio also looked up by 0.86 per cent to 20.45 from 20.28.

Among the ISDI GDRs and ADRs, there were six gainers, seven losers, while two held steady. Among ISDI ADRs, four ADRs advanced and four ADRs lost ground.

The major gainers were HDFC Bank up 3.07 per cent to $47.05 on volumes of 292,600 ADRs, Wipro up 2.31 per cent to $21.74 on volumes of 269,600 ADRs and ICICI Bank up 2.07 per cent to $22.65 on volumes of 686,200 ADRs.

The major losers were VSNL down 1.11 per cent to $9.84 on volumes 16,400 ADRs, Dr. Reddy's down 0.73 per cent to $17.62 on volumes of 63,600 ADRs and Infosys down 0.46 per cent to $76.25 on volumes of 409,671 ADRs.

The GDRs of Reliance and State Bank of India firmed up to $26.17 and $44.80 from $25.38 and $43.50, respectively . However, the GDR of Ranbaxy Labs declined to $23.25 from $23.78.