Indian ADRs drop in trades

Indian ADRs slumped in line with markets in US. Stocks from the Tata group led the losses. Tata Communications and Tata Motors tumbled 6.5% each to $9.18 and $19.37, respectively.

Sterlite, from the metal pack, fell 6% to $13.11. IT stocks were weak. Infosys shed 5.5% to $58.15. Patni Computers, Wipro and Genpact were down over 3% each.

Banking names - HDFC Bank and ICICI Bank dropped 5% each to $32.65 and $42.80, respectively. Dr Reddy's slipped 5.6% while MTNL dropped 3.3% in trades.