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On US bourses, Indian cos gain $57 billion in 2012
The valuation of US-listed entities from India has grown by a staggering $57 billion since the beginning of 2012.
In the process, the 15 Indian companies listed on the US bourses (NYSE and Nasdaq) have recouped nearly half of the total loss of about USD 120 billion witnessed during 2011.
While Sify and Rediff.com have seen an erosion in their market valuations, each of the remaining 13 companies have seen their value soar on the US bourses.
A few like ICICI Bank and Tata Motors have recorded significant jump in their market valuations.
"Indian ADRs performed well due to the rise in the Indian equity market," CNI Research Head Kishor Ostwal said.
American Depository Receipts (ADRs) are bought and sold on American markets just like stocks and are issued by a bank or brokerage firm.
Auto maker Tata Motors was the best performer among the ADRs with its market capitalisation surging by USD 34 billion to a total of USD 87.94 billion.
Besides, HDFC Bank's market capitalisation rose by USD 6.65 billion to a total of USD 27.16 billion, while that of ICICI Bank grew by USD 5.9 billion to USD 21.13 billion.
Experts said that the the Indian ADRs' performance is mostly related to the domestic equity market in India, rather than the trends in the US market.
In 2012 so far, the US benchmark index Dow Jones Industrial Average (DJIA) has gained about 6.45 per cent to close at 13,005.12 points, whereas India's key 30-share Sensex index has gained about 15 per cent to 17,731.12 points.
Among technology majors, Infosys has witnessed a gain of USD 4 billion in market capitalisation to USD 33.43 billion.
The valuations of Wipro and Patni Computer Systems have jumped by USD 1.95 billion and USD 194 million respectively, to USD 27 billion and USD 1.29 billion.
Sterlite Industries has seen its market capitalisation increasing by USD 2.41 billion in valuation to USD 8.23 billion and pharma major Reddy's Laboratories' valuation has gone up by USD 694 million to USD 5.68 billion.
Tata Communications' ADRs gained USD 209 million, in valuation, which took its total market capitalisation to USD 1.34 billion. Another mobile service provider MTNL valuation was up by USD 118 million to USD 375 million.
In the outsourcing space, WNS Holdings, EXLService Holdings and Genpact have also seen their market capitalisation growing by USD 90 million, USD 130 million and Genpact USD 225 million respectively.
On the other hand, internet firms Reddif.com and Sify Technologies ended in negative zone with a loss of USD 9 million and USD 5 million respectively, so far in 2012.
On US bourses, Indian cos gain $57 bn - Indian Express
The valuation of US-listed entities from India has grown by a staggering $57 billion since the beginning of 2012.
In the process, the 15 Indian companies listed on the US bourses (NYSE and Nasdaq) have recouped nearly half of the total loss of about USD 120 billion witnessed during 2011.
While Sify and Rediff.com have seen an erosion in their market valuations, each of the remaining 13 companies have seen their value soar on the US bourses.
A few like ICICI Bank and Tata Motors have recorded significant jump in their market valuations.
"Indian ADRs performed well due to the rise in the Indian equity market," CNI Research Head Kishor Ostwal said.
American Depository Receipts (ADRs) are bought and sold on American markets just like stocks and are issued by a bank or brokerage firm.
Auto maker Tata Motors was the best performer among the ADRs with its market capitalisation surging by USD 34 billion to a total of USD 87.94 billion.
Besides, HDFC Bank's market capitalisation rose by USD 6.65 billion to a total of USD 27.16 billion, while that of ICICI Bank grew by USD 5.9 billion to USD 21.13 billion.
Experts said that the the Indian ADRs' performance is mostly related to the domestic equity market in India, rather than the trends in the US market.
In 2012 so far, the US benchmark index Dow Jones Industrial Average (DJIA) has gained about 6.45 per cent to close at 13,005.12 points, whereas India's key 30-share Sensex index has gained about 15 per cent to 17,731.12 points.
Among technology majors, Infosys has witnessed a gain of USD 4 billion in market capitalisation to USD 33.43 billion.
The valuations of Wipro and Patni Computer Systems have jumped by USD 1.95 billion and USD 194 million respectively, to USD 27 billion and USD 1.29 billion.
Sterlite Industries has seen its market capitalisation increasing by USD 2.41 billion in valuation to USD 8.23 billion and pharma major Reddy's Laboratories' valuation has gone up by USD 694 million to USD 5.68 billion.
Tata Communications' ADRs gained USD 209 million, in valuation, which took its total market capitalisation to USD 1.34 billion. Another mobile service provider MTNL valuation was up by USD 118 million to USD 375 million.
In the outsourcing space, WNS Holdings, EXLService Holdings and Genpact have also seen their market capitalisation growing by USD 90 million, USD 130 million and Genpact USD 225 million respectively.
On the other hand, internet firms Reddif.com and Sify Technologies ended in negative zone with a loss of USD 9 million and USD 5 million respectively, so far in 2012.
On US bourses, Indian cos gain $57 bn - Indian Express
