News

Skindia GDR Index signals weak Nifty opening
Source: IRIS (26-OCT-09)

The reduction in the premium of the Skindia GDR Index by 1.19% on Friday`s over previous close indicates a weak Nifty opening. The Skindia GDR Index closed 0.39% lower on 23rd October, 2009 at 2,531.80. Of the 15 components of the Skindia GDR Index, seven were up, Mahindra & Mahindra (weight 1.98%) was unchanged and seven were down. The main gainers were ITC (+5.09%; weight 0.84%), Dr. Reddy`s (+3.71%; weight 3.15%) and State Bank of India (+2.66%; weight 10.98%) and the main losers were Grasim Industries (-2.94%; weight 2.64%) and Reliance (-2.47%; weight 13.53%).

Index components trading at maximum premium were Satyam Computers (19.92%), GAIL (4.62%) and Reliance (1.83%). Those trading at the highest discounts were Mahindra & Mahindra (3.50%), Sterlite Industries (1.56%) and Dr. Reddy?s (1.02%).

The Skindia GDR Index P/E ratio was 22.89 times compared to 23.09 times yesterday. Sterlite Industries has the highest price to historical earnings of 80.36 times, followed by ITC at 28.85 times and Dr. Reddy`s at 27.22 times.

Company	Weight	Price ($)	Change	% Change	Prem/Disc	EPS	P/E
		23-Oct-2009			to Local	($)
Skindia GDR Index	100.00%	2,531.80	-10.01	-0.39%	0.45%	110.60	22.89
Dr. Reddy`s (A)	3.15%	20.43	0.73	3.71%	-1.02%	0.75	27.22
GAIL (G)	1.59%	48.95	0.95	1.98%	4.60%	2.78	17.62
Grasim Industries (G)	2.64%	46.16	-1.40	-2.94%	-0.14%	3.90	11.83
ICICI Bank (A)	23.31%	38.66	-0.68	-1.73%	-0.55%	1.51	25.62
Infosys Tech (A)	21.90%	48.58	0.43	0.89%	-0.01%	2.23	21.79
ITC (G)	0.84%	5.57	0.27	5.09%	-0.28%	0.19	28.85
L & T (G)	2.52%	33.90	-0.15	-0.44%	0.36%	1.39	24.36
Mahindra & Mah. (G)	1.98%	19.20	0.00	0.00%	-3.50%	0.75	25.48
Ranbaxy Labs (G)	0.48%	8.09	0.11	1.38%	1.10%	(0.57)	(14.07)
Reliance (G)	13.53%	89.63	-2.27	-2.47%	1.83%	3.52	25.49
Satyam Computers (A)	2.05%	5.71	0.03	0.53%	19.92%	0.76	7.50
State Bank of India (G)	10.98%	102.17	2.65	2.66%	0.96%	6.64	15.38
Sterlite Industries (A)	10.94%	17.55	-0.26	-1.46%	-1.56%	0.22	80.36
Tata Communications (A)	1.07%	19.95	-0.07	-0.35%	-0.95%	0.82	24.33
Tata Motors (A)	3.02%	11.45	-0.25	-2.14%	0.61%	0.57	20.15