L&T GDR up 2.50%

ADR/GDR REPORT

Among the ISDI global depository receipts (GDRs), two gained and five lost ground. The major gainers were Larsen & Toubro, up 2.50 per cent to $24.60, and Ranbaxy up 0.81 per cent to $25.00. The major losers were Reliance, down 2.60 per cent to $26.20, State Bank of India down 1.84 per cent to $40.00 and ITC down 0.99 per cent to $30.05.

The ISDI, representing the GDRs and ADRs of 15 actively traded companies, inched up by 0.47 per cent to 1,246.73 on March 18 from 1,240.95 on March 17. The ISDI price-to-earning ratio also edged up by 0.44 per cent to 19.89 from 19.81 previously.

Among the ISDI GDRs and ADRs, there were seven gainers, one loser and seven ruled steady and among ISDI ADRs, four ADRs gained and four ADRs lost ground.

The major gainers were ICICI Bank up 2.70 per cent to $21.68, Wipro up 0.96 per cent to $21.10 and Satyam up 0.88 per cent to $22.90. The major losers were Dr Reddy's down 1.57 per cent to $16.89, MTNL down 0.72 per cent to $6.88 and VSNL down 0.44 per cent to $8.96.

The GDRs of Reliance and L&T moved up to $26.90 and $24.60, respectively, from $26.31 and $24.10 previously.

However, the GDRs of Hindalco and State Bank of India dropped to $31.80 and $40.85, respectively, from $32.80 and $41.41 previously.