Ranbaxy GDR lone loser

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 2.84 per cent to 1,206.48 on April 1, 2005, in morning trades.

Among ISDI global depository receipts (GDRs), five gained, one remained and one lost ground. Major gainers were Bajaj Auto up 5.99 per cent to $24.60, ITC up 5.52 per cent to $30.75 and Hindalco up 5.19 per cent to $30.90. The only loser was Ranbaxy, down 1.35 per cent to $23.75.

The ISDI, representing the GDRs and American depositary receipts of 15 actively traded companies, firmed up by 2.46 per cent to 1,199.21 on March 31 from 1,170.47 on March 30.

The ISDI price-to-earning ratio also moved up by 2.32 per cent to 19.18 from 18.74, previously.

Among ISDI ADRs, seven ADRs gained and one ADR lost ground. The major gainers were ICICI Bank, up 5.88 per cent to $20.72, VSNL up 3.95 per cent to $8.42 and Satyam up 3.32 per cent to $23.36.

The only loser was Dr Reddy's down 1.35 per cent to $17.14.

The GDR of Bajaj Auto strengthened to $24.60 from $23.21 previously. The GDR of Ranbaxy Labs also eased to $23.92 from $24.04.