Indian ADRs gain nearly $6 billion in one weekhttps://indianexpress.com/article/news-archive/web/indian-adrs-gain-nearly-6-billion-in-one-week/

Indian ADRs gain nearly $6 billion in one week

Indian companies trading on American bourses saw their collective market capitalisation increase by about six billion dollars in one week...

Indian companies trading on American bourses saw their collective market capitalisation increase by about six billion dollars in one week,with IT majors — Infosys and Wipro — alone accounting for more than one-third of the total gains. For the week ended March 13,the market valuation of 16 Indian stocks listed on New York Stock Exchange and Nasdaq jumped by 5.9 billion dollars. Among these shares trading as American Depository Receipts (ADRs),Infosys and Wipro together added 2.65 billion dollars. While Infosys witnessed its market valuation increase by 1.36 billion dollars,that of Wipro rose by 1.29 billion dollars.

Last week,the US markets had rallied on encouraging news from the financial sector. The benchmark Dow Jones Industrial Average also crossed the 7,000-mark. The market capitalisation of leading private sector lenders — HDFC Bank and ICICI Bank — rose more than 900 million dollars each.,with IT majors — Infosys and Wipro — alone accounting for more than one-third of the total gains. For the week ended March 13,the market valuation of 16 Indian stocks listed on New York Stock Exchange and Nasdaq jumped by 5.9 billion dollars. Among these shares trading as American Depository Receipts (ADRs),Infosys and Wipro together added 2.65 billion dollars. While Infosys witnessed its market valuation increase by 1.36 billion dollars,that of Wipro rose by 1.29 billion dollars.

Last week,the US markets had rallied on encouraging news from the financial sector. The benchmark Dow Jones Industrial Average also crossed the 7,000-mark. The market capitalisation of leading private sector lenders — HDFC Bank and ICICI Bank — rose more than 900 million dollars each.