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Indian ADR gains $468 mn in a week, HDFC leads

Indian ADR gains $468 mn in a week, HDFC leads
PTI
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First Published: Sun, Aug 23 2009. 11 53 AM IST
Updated: Sun, Aug 23 2009. 11 53 AM IST
New York: Indian stocks on American bourses saw their total market capitalisation rise by $468 million, even as seven companies witnessed value erosion this week.
The 16 entities listed on the New York Stock Exchange and the Nasdaq witnessed their cumulative market valuation climb to $468 million for the week ended 21August, led by private sector lender HDFC Bank, which alone gained $502 million.
However, the total gain during the week was offset by the losses suffered by seven firms totalling $617 million, with copper producer Sterlite Industries and auto maker Tata Motors losing the most.
IT bellwether Infosys Technologies saw its valuation jump by $202 million to $24.21 billion, while that of private sector lender ICICI Bank rose by $166 million to $17.29 billion.
Among the entities trading as American Depository Receipts (ADRs), Sterlite Industries ended the week shedding as much as $297 million in its valuation to $9.3 billion while second major loser, Tata Motors l$USD 212 million at$4.98 billion.
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First Published: Sun, Aug 23 2009. 11 53 AM IST
More Topics: ADR | NYSE | Nasdaq | HDFC | ICICI |