Hindalco GDR up 4.03%

ADR/GDR REPORT

The Instanex Skindia DR Index (ISDI) was down 1.27 per cent to 856.55 on August 9, 2004, in early morning trades in the western markets. Among ISDI global depository receipts (GDRs), five advanced and two lost ground.

The major gainers were Hindalco, up 4.03 per cent to $23.25, registering a volume of 11,069 GDRs, Bajaj Auto, up 3.27 per cent to $18.61, registering volume of 4,125 GDRs and Ranbaxy, up 1.92 per cent to $20.70, registering volume of 1,460 GDRs.

The losers were Reliance, down 1.11 per cent to $22.30, registering volume of 92,100 GDRs and L&T, down 0.73 per cent to $17.19.

The ISDI, representing the GDRs and ADRs of 15 actively-traded companies, declined by 1.54 per cent to 853.31 on the previous day. The ISDI price to earnings ratio also moved down by 1.56 per cent to 15.65 from 15.90, previously.

Among ISDI ADRs, one advanced and seven lost ground and among the ISDI GDRs and ADRs, there were eight losers and seven gainers.

The only gainer was Dr Reddy's, up 0.91 per cent to $16.60.

The major losers were Infosys, down 4.26 per cent to $46.53, MTNL, down 4.09 per cent to $6.57.