Indian ADRs gain $ 3 b in just a week

For the week ended August 7, Indian entities listed on the New York Stock Exchange and Nasdaq added US$ 2.97 billion to their market capitalisation, with Wipro’s valuation alone climbing by US$ 1.23 billion.

Among the 16 companies trading as American Depository Receipts (ADRs), another major gainer was auto maker Tata Motors whose valuation shot up by US$ 383 million. Mahindra Satyam’s market capitalisation rose by US$ 323 million, while that of Infosys Technologies grew by US$ 316 million. BPO firm Genpact and private sector lender ICICI Bank too witnessed significant increase in their respective market capitalisation.

Genpact’s valuation went up by US$ 248 million, while market capitalisation of ICICI Bank ascended to US$ 150 million in the last week.