The Skindia GDR Index P/E ratio also moved down by 0.48 per cent to 12.61 from 12.67 previously. Among the Indian GDRs, there were 22 gainers, 12 losers and 33 held unchanged. The GDRs of Crompton Greaves, Indo Gulf and GE Shipping were quoted higher at $0.73, $1.00 and $2.50 respectively as against $0.55, $0.80 and $2.15 previously. However, GDRs of ICICI dropped to $9.70 from $10.15 previously. The ADRs of Satyam Infoway and Rediff.com also dropped to $11.13 and $5.25 respectively from $12.25 and $5.50 previously.

The rate of conversion of one US dollar was Rs 46.11 on October 6, the release added.

Subex Systems announces ESOP-II
Bangalore-based Subex Systems Ltd, the Indian subsidiary of the US-based Subex Technologies Inc, has announced its second employee stock option plan (ESOP-II) covering all its employees. "This is a move towards wider coverage of Subexians across the globe under ESOP, and five lakh equity shares have been earmarked for the purpose," SSL managing director Subash Menon said in a statement. The first release of shares under the latest scheme would be made after the company's extraordinary general meeting to be held on October 30. The scheme also covers Subexians of parent company here, and by the time allocation of shares are completed the total ESOPs issued to employees would go up to 7.4 lakh shares, he said adding that 85 per cent of its employees were covered under the earlier scheme when 2.4 lakh shares were issued. The scheme would take the equity base of the company to Rs 7.62 crore representing 76.2 lakh shares, he said.

NSE revokes suspension
The NSE in a release on Monday said that suspension in trading in the securities of Vatsa Music Ltd. will be revoked on October 11. Trading will be permitted in the compulsory dematerialised form and will be subject to the rules/proceedures of the same. The equity shares of Nova Petrochemicals Ltd, Gujarat Ambuja Exports Ltd and Usha Beltron Ltd will compulsorily be traded in dematerialed form for all categories of investors, the release added.