ADR surge lifts VSNL

DALAL STREET SPIKES

Tatas-owned VSNL surged 7.40 per cent on the back of a sharp rise in the company's ADR which jumped 8.02 per cent at the New York Stock Exchange last night.

The VSNL counter was very active since the opening bell as operators took arbitrage opportunity with the stock trading at a discount, an analyst said.

The counter witnessed aggressive buying by FIIs with volumes accounting for more than 7.6 lakh shares at the BSE. The scrip closed at Rs 174.90 as against its previous close of Rs 162.85.