Date:12/01/2006 URL: http://www.thehindubusinessline.com/2006/01/12/stories/2006011202200400.htm

Back 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.