Indian shares on US bourses gain over $3 bn June 14, 2009
Posted by dhirendra1972 in Major Gainer, Recorded Profit, Respective Market Capitalizations.Tags: American Bourses, American Depository Receipts (ADRs), HDFC Bacnk Accounting, HDFC Bank and Sterlite Industries, Indian Entities, Indian Shares, Indian Stocks Trading, Infosys Technologies, Market Balue, Market Capitalization, Market Capitalizations, New York Stock Exchange, Private Sector, Profit, Satyam Computer Services, Standalone Profit, Sterlite Industries
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Good morning friends. It’s always good to know that Indian shares on US bourses gain over $3 bn. It means that there will be a profit in the end. And that’s a good one.
Indian stocks trading on American bourses gained more than USD 3 billion in a week, with private sector lender HDFC Bank accounting half of it.
For the week ended June 12, Indian entities listed on the New York Stock Exchange and Nasdaq added USD 3.21 billion to their market capitalization, with the valuation of HDFC Bank alone climbing USD 1.16 billion.
Among the 16 companies trading as American Depository Receipts (ADRs), another major gainer was copper producer Sterlite Industries whose market value shot up by USD 850 million.
Apart from HDFC Bank and Sterlite Industries, IT bellwether Infosys Technologies and scam-hit Satyam Computer Services too witnessed a significant rise in their respective market capitalizations.
While the valuation of Infosys grew by USD 619 million , that of Satyam Computer rose by USD 361 million.
Shares of Satyam Computer climbed higher on the NYSE last week after the entity reported a standalone profit of Rs 181 crore for the October-December quarter.
For January and February, the company recorded profit to the tune of Rs four crore and Rs 52 crore, respectively. The Economic Time
