SBI, Ranbaxy, L&T GDRs up

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.03 per cent to 886.96 on September 6, 2004, in early morning trades in the western markets. Among ISDI GDR stocks, three advanced, while four lost ground.

The gainers were State Bank of India "" up 1.14 per cent to $22.25 on a volume of 5,268 GDRs, Ranbaxy "" up 0.94 per cent to $21.55 on a volume of 1,460 GDRs, and L&T "" up 0.65 per cent to $18.55 registering volume of 4,400 GDRs.

The major losers were Hindalco "" down 3.13 per cent to $24.80, Bajaj Auto "" down 2.14 per cent to $19.70 and ITC "" down 0.22 per cent to $22.25 registering volume of 1,500 GDRs.

The Skindia index, representing the GDRs and ADRs of 15 actively traded companies, edged up by 0.16 per cent to 886.59 on the previous day.

The ISDI price to earnings multiple also ratio also looked up by 0.11 per cent to 16.23 from 16.22, on the previous day.

Among the ISDI GDRs and ADRs, there were eight gainers, six losers and one ruled steady and among ISDI ADR, six advanced and two lost ground.

The major gainers were Satyam Computer up 3.58 per cent to $21.41 registering volume of 308,000 American depositary receipts, VSNL up 1.35 per cent to $7.50 registering volume of 26,400 ADRs and ICICI Bank up 0.98 per cent to $12.32 with volumes of 227,800 ADRs.

The losers were Dr. Reddy's Laboratories, which came down 2.06 per cent to $15.70 on a volume of 174,800 ADRs and Infosys Technologies, which slipped 1.45 per cent to $53.56 registering a traded volume of 244,578 ADRs.

The GDR of State Bank of India also hardened to $22.33 from $21.70. The GDR of Pune-based scooted major Bajaj Auto also eased to $19.85 from $20.13.