New York: Indian stocks trading on American
bourses gained about USD 11 billion in one month, with IT
bellwether Infosys Technologies and private sector lender HDFC
Bank accounting almost half of the gains.
For the month ended September 30, Indian entities listed
on the New York Stock Exchange and Nasdaq added USD 10.61
billion to their market-cap, with Infosys and HDFC Bank
together contributing USD 5.82 billion.
Infosys' valuation grew by USD 3.01 billion, while that
of HDFC Bank rose by USD 2.81 billion.
The market capitalisation of another private sector
lender ICICI Bank jumped by USD 1.87 billion, while copper
producer Sterlite Industries saw an increase of USD 1.82
billion to its valuations.
Among the 16 companies trading as American Depository
Receipts (ADRs), another major gainer was pharma major Dr
Reddy's Laboratories whose market capitalisation increased by
USD 570 million.
Apart from Infosys, HDFC Bank, ICICI Bank, Sterlite
Industries and Dr Reddy's Laboratories, IT major Wipro too
witnessed a significant increase to its market capitalisation.
The company saw an increase of USD 322 million to its
valuation.
ADRs are bought and sold on American bourses just like
stocks and are issued by banks or brokerage firms.
Bureau Report
First Published: Thursday, October 01, 2009, 22:24