Indian ADRs end lower
Indian ADRs end lower American stocks slipped on Thursday (September 20) disappointed by mixed earnings reported by companies. After rallying in the initial days of the week on Fed`s decision to cut rates by 50 basis points; a tumbling dollar and surging oil prices added fuel to the declines on Thursday. Bear Stearns and Circuit City posted wider-than-expected drops in third-quarter profit. Goldman Sachs Group reported a 79% profit rise in the third quarter. The Dow Jones fell 48.86 points, or 0.35%, to 13,766.70 and the Nasdaq composite index fell 12.19 points, or 0.46%, to 2,654.29. Indian ADRs also lost barring a few which ended with marginal gains.
ICICI Bank ended up 0.58% at USD 48.30, Sterlite Industries closed up 0.65% at 17.10 and Tata Motors ended up 0.06% at 17.88
| Company | USD | % Change |
| Infosys | 47.02 | 4.59 |
| Cognizant | 73.41 | 2.9 |
| Satyam | 24.76 | 3.7 |
| Wipro | 13.83 | 2.74 |
| Sify | 7.78 | 1.27 |
| HDFC Bank | 98.2 1 | 0.89 |
| VSNL | 20.98 | 0.10 |
| Dr. Reddy`s | 16.10 | 1.83 |
| MTNL | 7.66 | 1.79 |
| Patni Comp | 23.28 | 2.23 |
