ITC, Hindalco GDRs slip
ADR/GDR REPORT
| The losers were ITC, down 7.96 per cent to $26.00, Hindalco down 6.67 per cent to $28.00 registering a volume of 5,000 GDRs and Bajaj Auto down 5.03 per cent to $21.70, registering a volume of 7,000 GDRs. |
| The ISDI, which represents the ADRs and GDRs of 15 actively-traded scrips slipped 1.01 per cent to 1,069.83 on the previous day and was trading at a price to earnings multiple of 20.54 (down by 1.01 per cent). |
| Among the ISDI ADR stocks, four advanced and four lost ground and among the ISDI GDR and ADRs, there were five gainers and ten losers. |
| The gainers were HDFC Bank, up 2.26 per cent to $33.02, registering volumes of 105,000 ADRs, Satyam Computer up 1.50 per cent to $22.94, registering volumes of 991,000 ADRs and Infosys up 0.85 per cent to $89.25, registering volumes of 625,090 ADRs. |
| The major losers were VSNL down 1.93 per cent to $7.13 registering volumes of 154,800 ADRs, followed by MTNL down 1.53 per cent to $7.09 with volumes of 97,800 ADRs and Wipro down 1.02 per cent to $50.46 with volumes of 118,200 ADRs. |
| The GDR of Reliance quoted higher at $31.00 from $30.53, previously. However, the GDRs of ITC, Ranbaxy Labs and State Bank of India declined sharply to $26.00, $24.05 and $37.58, respectively, as against $28.25, $25.20 and $39.25, previously. |
| Meanwhile, elsewhere in the world European shares rose on Thursday as good results boosted technology and drug companies. |
| By mid afternoon, the FTSE Eurotop 300 index of pan-European blue chips was 0.2 per cent firmer at 995.2 points, having peaked at 999.17 points, its highest level since August 2002. |
| The narrower DJ Euro Stoxx 50 index rose 0.5 per cent to 2,889.3 points. |
| US stocks futures were pointing to slightly firmer start for the benchmark indexes as another raft of companies lined up for results. |
| In Europe, London's FTSE 100 fell 0.1 per cent while Paris's CAC-40 rose 0.6 per cent. In Zurich, the SMI gained 0.4 per cent and Frankfurt's DAX was up 0.3 per cent. |