Gain of $9 bn in one week for Indian ADRs
For the week ended July 17, the 16-Indian entities listed on the New York Stock Exchange and Nasdaq together added USD 8.51 billion to their market capitalisation.
ICICI Bank and Wipro together added USD 4.74 billion to their valuation. While ICICI Bank's valuation rose by USD 2.45 billion, Wipro gained USD 2.29 billion during the week.Among the 16 companies trading as American Depository Receipts (ADRs), IT bellwether Infosys Technologies' valuation jumped by USD 1.59 billion.HDFC Bank's valuation went up by USD 561 million, the market capitalisation of Tata Motors ascended to USD 466 million during the week. Pharma major Dr Reddy's Laboratories was the sole loser during the week with its valuation declining by USD 12 million.
The market capitalisation of IT firm Mahindra Satyam and BPO company Genpact increased to USD 404 million and USD 225 million respectively. Meanwhile, telecom major Tata Communications saw its valuation rise by USD 197 million, while copper producer Sterlite Industries' gained USD 121 million. Among other Indian companies, IT firm Patni Computer, telecom major Mahanagar Telephone Nigam (MTNL), internet firms Rediff.com and Sify Technologies and outsourcing firms WNS Holdings and EXL Services' valuation increased in the range of USD 9 million to USD 85 million.
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