L&T GDR up 0.85%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was up 0.85 per cent to 1,205.61 on February 7, 2005 in early morning trades. Among ISDI global depository receipts (GDRs) one gained, two remained unchanged and four lost ground.

The only gainer was L&T, up 0.89 per cent to $22.60. The major losers were Ranbaxy, down 2.42 per cent to $24.64, Reliance, down 1.16 per cent to $24.70 and State Bank of India, down 053 per cent to $37.80.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, firmed up by 1.11 per cent to 1,207.89 on February 4 from the previous level of 1,194.60.

The ISDI price to earnings ratio also looked up by 1.14 per cent to 19.18 from 18.97, previously.

Among the ISDI GDRs and ADRs, there were nine gainers, one loser and five ruled steady and among ISDI ADRs, all eight ADRs gained. The major gainers were Infosys, up 2.46 per cent to $68.85, ICICI Bank, up 2.21 per cent to $20.85 and Dr Reddy's, up 2.09 per cent to $17.13. However, the GDR of State Bank of India eased to $37.80 from $38.00.