Larsen, Reliance GDRs up

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.13 per cent to 840 on Wednesday. Among ISDI global depository receipts (GDRs), two advanced, two remained unchanged and three lost ground.

The gainers were Larsen & Toubro (L&T) up 5.26 per cent to $17.00 registering a volume of 24,060 GDRs and Reliance Industries up 2.07 per cent to $19.70 registering a volume of 191,584 GDRs.

The losers were ITC down 5.36 per cent to $22.05 and a volume of 33,718 GDRs, SBI down 1.11 per cent to $22.25 registering a volume of 29,211 GDRs and Bajaj Auto down 0.82 per cent to $18.25 at 4,900 GDRs.

The ISDI, which represents the ADRs and GDRs of 15 actively traded scrips, also closed down 0.23 per cent to 836.83 on the previous day and was trading at a price to earnings multiple of 15.26 (down by 0.18 per cent).

Among the ISDI GDRs and ADRs, there were 10 losers and five gainers. Among the ISDI ADRs, three advanced and five lost ground. The gainers were ICICI Bank up 1.81 per cent to $12.35, Dr Reddy's up 1.63 per cent to $17.42 and Wipro up 0.58 per cent to $15.65.

The major losers were HDFC Bank down 1.06 per cent to $26.25, VSNL down 0.82 per cent to $7.24 and Infosys Technologies down 0.82 per cent to $46.09.

The GDR of L&T firmed up to $16.60 from $16.05 previously. However, the GDRs of Bajaj Auto, ITC and State Bank of India dropped to $17.85, $22.15 and $22.25, respectively, from $18.85, $23.30 and $22.50, previously.