Indian ADRs surge on Wednesday

Indian ADRs climb on back of rally in the US Markets. IT stocks zoom aghead of the Infosys results, the IT belwether ADR has risen 3.8%, Patni Computers surged 3.7% to $20.89, Satyam Computer Services was up 1.9% and Wipro gained 2.7% to $16.24

Mahanagar Telephone Nigam rallied 1.7% to $3.04.

Auto ADRs were also in the top gear. Tata Motors climbed 2.6%%. From the IT space Wipro gained 0.6% to $15.68 and Infosys surged 0.2% to $68.9 respectively.

Investors cashed in on the banks. HDFC Bank and ICICI Bank added 2.2% each. Sify ended in the red, down 5% and Rediff.com remained unchanged.