Ranbaxy GDR up 2.06%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.29 per cent to 837.84 on July 6 in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), six advanced and one remained unchanged.

The major gainers were Ranbaxy Labs, up 2.06 per cent to $20.30, registering volume of 10,000 GDRs, Bajaj Auto, up 1.67 per cent to $20.08, and ITC, up 0.98 per cent to $20.70, registering volume of 55,000 GDRs.

On the previous day, the ISDI closed down 0.17 per cent to 835.43. The ISDI P/E ratio also edged down by 0.30 per cent to 14.87 from 14.91. The US markets were closed on July 5, on account of Independence Day.

Among the ISDI GDRs and ADRs, there were three gainers, three losers and nine ruled steady.

The GDRs of Ranbaxy Labs, Bajaj Auto and Hindalco shot up to $20.42, $20.08 and $22.80, respectively, from $19.91, $19.75 and $22.55, previously.

However, the GDRs of State Bank of India, Reliance and ITC dropped to $21.40, $19.40 and $20.38, respectively, from $21.88, $19.76 and $20.50, previously.

Meanwhile elsewhere in the world, Standard & Poor's 500 Index futures expiring in September shed six points to 1,119.80. Dow Jones Industrial Average futures dropped 46 points to 10,228 and Nasdaq-100 Index futures fell 11.50 points to 1,476.50. The Dow average has slipped 1.6 per cent this year amid a 21 per cent surge in the price of oil.