Indian ADRs gain $1.3 billion in April 2010

Indian ADRs gain $1.3 billion in April 2010

 For the month ended April 30, 2010, the 16 Indian entities listed on the New York Stock Exchange and Nasdaq added $  1.3 billion to their net market capitalisation.

HDFC Bank leads the pack among the gainers with its valuation jumping by $ 1.47 billion to a total of $ 22.63 billion.

Auto maker Tata Motors held the second spot with its market capitalisation surging by $ 877 million to $ 9.18 billion.

Tata Motors is followed by IT bellwether Infosys Technologies which saw its valuation rising by $ 645 million to $ 34.23 billion. Out of the 16 companies trading as American Depository Receipts (ADRs), nine of them have witnessed an erosion in their respective market capitalisation.