Indian Adrs Perk Up After Fed Rate Cuts

American Depository Receipts (ADRs) of Indian companies have perked up the first time last week after seeing continuous decline in the last six weeks. Seven out of the 11 ADRs reacted positively to the Fed rate cut of 0.50 per cent points on October 2, with Rediff (up 28.85 per cent to $0.67), Infosys (up 5.42 per cent to $35.00) and Satyam Infoway (up 2.83 per cent to $1.09) as the top 3 gainers.

Moreover, during the week, eight ADRs advanced and only two lost ground with ICICI (up 20.20 per cent to $5.95) as the top gainer and Dr Reddy