Mumbai, July 9: The Infosys ADR touched a new high of $ 72.875 on Friday when trading on the Nasdaq opened 10 hours after the Indian IT leader announced a whopping 156 per cent jump in its first quarter earnings. The ADRs were trading at a hefty premium of 62.32 per cent to the domestic price of the share which closed the day at Rs 3,861 on the Bombay Stock Exchange.Though the share prices hit a new high on BSE on Friday, they have a long way to go before they can catch up with the ADRs. The ADRs have gained around $ 13 over the last two days on the Nasdaq.
This drove the shares in the domestic market to an all-time high of Rs 3,861 after the scrip hit the day's peak of Rs 4102 on BSE. On the Nasdaq, the ADRs hit a high of $ 73.125, being the day's high with a volume of 55,900 ADRs.
Off late, the lead for the domestic prices comes from the ADRs. While the ADRs turned weak after hitting the $ 60.25 level on June 18, the prices of the domestic shares have been on the rise since June 21.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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