Led by IT major Wipro, Indian stocks trading on American bourses added USD 1.76 billion to their total market valuation last week.
For the week ended October 15, Indian entities listed on the New York Stock Exchange and the Nasdaq added USD 1.76 billion to their market capitalisation, with Wipro's valuation
growing by USD 2.13 billion to USD 40.66 billion.
Of the 15 companies trading as American Depository Receipts (ADRs), four firms, including IT bellwether Infosys Technologies, witnessed erosion in their valuations.
Besides, market capitalisation of internet major Sify Technologies remain unchanged at USD 98 million.
Apart from Wipro, the market valuations of auto maker Tata Motors and pharma major Dr Reddy's Laboratories surged by USD 211 million and 174 million respectively.
The market capitalisation of copper producer Sterlite Industries went up by USD 109.25 million to USD 3.40 billion and that of Patni Computer Systems by USD 63.65 million to USD
1.36 billion.
Infosys emerged as the major loser during the week with its market cap declining by USD 504 million to USD 39.18 billion. Private sector lender ICICI Bank's market cap fell by by USD 127.05 million to USD 29.42 billion, while that HDFC Bank by by USD 353 million to USD 28.34 billion.
BPO company EXLService Holdings' valuation slipped by USD 16.34 million.
On the other hand, telecom majors Mahanagar Telephone Nigam and Tata Communications, outsourcing companies WNS Holdings and Genpact, and Internet firm Rediff.com saw an increase in the range of USD 0.58 million to USD 24.21 million
to their market capitalisation.
On Friday, the US markets ended in a mixed zone, with Dow Jones Industrial Average ending down 31.79 points at 11,062.78 and the S&P 500 rising 2.38 points to 1,176.19. Besides, tech
heavy Nasdaq was up 1,176.19 points at 2,468.77.
Last week, Mahindra Satyam delisted its shares from the New York Stock Exchange (NYSE) after failing to comply with the US securities rules.
ADRs are bought and sold on American bourses just like stocks and are issued by banks or brokerage firms.