Ranbaxy GDR up 3.8%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.65 per cent to 1,182.03 on December 8 in early morning trades. Among ISDI global depository receipts (GDRs), three advanced and four lost ground.

The major gainers were Ranbaxy, up 3.77 per cent to $27.50, State Bank of India, up 1.24 per cent to $36.75 and Bajaj Auto, up 0.42 per cent to $23.90. The major losers were L&T, down 4.67 per cent to $21.63, Reliance, down 3.40 per cent to $24.15 and Hindalco, down 1.62 per cent to $29.76.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, declined by 2.07 per cent to 1,185.24 on December 7 from its previous level of 1,210.29. The ISDI price to earnings ratio also eased by 1.85 per cent to 20.50 per cent.

On December 7, among ISDI ADRs, 2 ADRs lost ground and among the ISDI GDRs and ADRs, there were eleven losers, three gainers and one ruled steady

The major losers were Satyam, down 5.82 per cent to $24.27, Dr Reddy's, down 3.40 per cent to $19.01 and MTNL, down 3.16 per cent to $8.28.

The GDRs of L&T and Reliance dropped to $21.63 and $24.68, respectively, from $23.50 and $25.85, previously.

However, the GDRs of Hindalco, Bajaj Auto and Ranbaxy Labs edged up to $30.50, $23.90 and $27.93, respectively.