Financial Daily from THE HINDU group of publications
Thursday, Jan 12, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 12, 2006 |
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Info-Tech
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Software Markets - Stocks Infosys ADR down 8 pc K.S. Badri Narayanan
Chennai , Jan.11 THERE is a cue for the domestic investors on what is in store for them on Thursday with respect to Infosys: The ADR, which represents one equity share of Infosys, tumbled by over eight per cent. Infosys ADR, which hit its new 52-week high on January 9 at $83.38, was ruling at $73.8 (8.30 pm IST) against the Tuesday's closing price of $80.64, a drop of 8.48 per cent amidst robust trading volumes of about 5.07 lakh ADRs. This was amidst the flat trend in the US market with Dow Jones, S&P-500 and tech-focussed Nasdaq ruling at the previous day's closing levels. However, the Infy-effect percolated to other IT majors — Satyam Computer and Wipro as well, albeit to a lesser extent. Satyam ADR, which represents two equity shares, was ruling weak at $36.94 ($38.32), a decline of about four per cent. Wipro ADR, which represents one equity share, was last quoted at $11.97 ($12.20), down by 1.8 per cent.
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