Ranbaxy GDR up 1.68%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.38 per cent to 1,049.98 on April 16 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), one advanced and six lost ground.

The only gainer was Ranbaxy, up 1.68 per cent to $24.25, registering volume of 4,800 GDRs. The major losers were Reliance, down 4 per cent to $30.00, registering volume of 97,000 GDRs, ITC, down 1.95 per cent to $27.20 and Bajaj Auto down 1.57 per cent to $22.00.

The ISDI, which represents the ADRs and GDRs of 15 actively-traded companies closed down 1.72 per cent to 1,049.67 on the previous day and was trading at a price to earnings multiple of 18.49 (down by 1.48 per cent). Among the ISDI ADRs, one advanced and seven lost ground and among the ISDI GDRs and ADRs, there were 13 losers and two gainers.

The only gainer was MTNL, up 3.16 per cent to $7.84, registering volume of 34,800 ADRs. The losers were ICICI Bank, down 2.07 per cent to $15.65, registering volume of 119,200 ADRs, Satyam Computer, down 2.05 per cent to $21.05, registering volume of 238,300 ADRs and HDFC Bank, down 1.64 per cent to $30.03, registering volume of 39,300 ADRs.

The GDRs of Ranbaxy Labs, Reliance and Hindalco dropped to $ 23.90, $29.90 and $30.90, respectively, as against $24.86, $31.00 and $32.00, previously, while the GDR of State Bank of India edged up to $42.50 as against $42.40, previously.

Elsewhere in the world, the US stocks opened flat on Friday as investors sifted through a mixed bag of earnings and economic reports.

The Dow Jones industrial average was up 16.61 points, at 10,414.07. The broader Standard & Poor's 500 index gained 0.75 point to 1,129.59. The technology-laced Nasdaq Composite index was down 5.13 points at 1,997.04.