AMERICAN DEPOSITORY RECEIPTS
NSE International Exchange begins 23.5-hour trading, extends market access across global time zones
NSE International Exchange has introduced a 23.5-hour trading schedule, providing near-continuous market access across Asian, European and American time zones. The extended window aims to help global investors respond to international developments while strengthening GIFT City’s position as a global financial hub.
Stocks in news: TCS, ITC, Infosys, Cochin Shipyard and RIL
On Thursday, the financial markets took a hit, plummeting by almost 1.5% due to robust selling pressure. The Nifty index wavered near its April 2026 low, suggesting ongoing vulnerabilities. In a positive twist, TCS announced a notable 15% rise in its consolidated net profit for the second quarter. Meanwhile, ITC engaged in a substantial block trade, while shares of Infosys and Wipro faced declines during US market hours.
Infosys, Wipro ADRs fall nearly 3% after TCS earnings, US crackdown on H-1B-linked green card programme
Infosys and Wipro ADRs fell nearly 3% in US trading as investors assessed TCS’s quarterly results and fresh US immigration restrictions. Concerns over technology spending, AI disruption and tighter employment-based immigration added pressure to Indian IT stocks.
HDFC Bank, Kotak Mahindra Bank put two Anups atop banking’s big succession puzzle
Anup Bagchi has been appointed as the new MD and CEO of HDFC Bank effective October 26. He succeeds Sashidhar Jagdishan, who chose not to seek reappointment after his six-year term. Kotak Mahindra Bank has also named Anup Saha as its new MD and CEO starting January 1. Saha takes over from Ashok Vaswani, who is also stepping down from his role.
IndusInd Bank to raise up to Rs 30,000 cr via equity, debt
The bank's board approved a proposal for raising funds through debt securities or equity instruments or convertible debt securities in any permitted mode such as Qualified Institutional Placement or American Depository Receipts or Global Depository Receipts, it said in a BSE filing.
Coforge board approves proposal to raise Rs 375 cr
The board has approved the fresh issuance of equity shares by the company for the purpose of capital raising, including by way of a depository receipts issue or a Qualified Institutions Placement (QIP) or any other mode.
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GMO’s Jeremy Grantham throws weight behind Infosys, ICICI Bank
Grantham’s hedge fund GMO bought substantial American Depository Receipts of ICICI Bank and Infosys during the December quarter, at a time when investors have turned optimistic on the prospects of the two companies.
Dr Reddy’s ADRs listed at NSE International Exchange
The secondary listing of Dr. Reddy’s ADRs at NSE IFSC shall provide global investors an additional venue to transact in their ADRs.
HDFC Bank denies charges by US law firm; to defend vigorously in lawsuit
Rosen Legal last week filed the class-action suit seeking damages for the losses incurred by investors because of alleged "materially false and misleading" representations by HDFC Bank.
Vodafone Idea Board to meet on September 4 to discuss funding plans
ET reported on Wednesday that VIL needs to quickly raise at least $3-4 billion through a combination of capital infusion by promoters, rights issue and potential sale of fibre and data-centre assets to be able to compete effectively in the market, according to analysts.
Direct overseas listing a big boost for startups, say experts
Currently, quite a few Indian companies have American Depository Receipts (ADRs) that are traded in the US.
Govt allows firms to list global depository receipts at IFSC
"The depository receipts can be issued by way of public offering or private placement or in any other manner prevalent in the concerned jurisdiction and may be listed or traded on the listing or trading platform in the concerned jurisdiction," the corporate affairs ministry said in the amended rules.
Sebi brings in liberalised norms for depository receipts
The liberalised norms for DRs were issued in 2014 but could not be implemented due to concerns raised by Sebi.
Sebi imposes Rs 40 lakh fine on Sybly Industries MD, director for GDR manipulation
Sebi noted that the entire 1.51 million GDR were subscribed by only one entity, Vintage FZE (now known as Alta Vista International FZE).
Lakshmi Vilas Bank to issue 15 crore shares to raise Rs 1,500 crore
The firm has also decided to raise about Rs 250 crore in bonds in private placement deals.
Yes Bank to decide on $1 billion share sale in H2
Yes Bank will take a call in the second half of the current fiscal on its plans for $1 billion share sale, its chief Rana Kapoor said.
Investors fear retrospective taxation on American depository receipts
There is no clarity on levy of capital gains tax at the time of conversion of ADRs and on the methodology for computing this on the sale of such stock on Indian bourses.
HDFC Bank kicks off Rs 10,000-crore share sale
HDFC Bank launched its programme through a combination of share sales to qualified institutional investors and the issue of ADRs on Wednesday.
PM Modi's US visit: India pitches for US companies to list on its exchanges
Bharat Depository Receipts is a rupee dominated instrument that would be issued by domestic depository against listed equities a foreign company.
New depository scheme to come into effect this year, says FinMin
"Some tax amendments also need to be done and those would come into effect from April 1, 2015," Manoj Joshi, Joint Secretary in Finance Ministry, told a group of US investors here.
Budget 2014: Depository receipt makeover clears way for global money
Indian corporates can soon raise capital abroad by issuing depository receipts against securities other than equity.
Economic Survey 2014: Government to come out with simplified norms for Depository Receipts: Survey
The committee had further suggested that DRs can be issued for raising funds by issuing new shares or against the existing equity.
FIPB clears Axis Bank's proposal to raise FDI limit beyond 49%
FIPB approved raising the foreign equity holding in Axis Bank to 62% from 49%, subject to the condition that the holding of FIIs does not exceed 49%.
Sintex board approves fund raising of over Rs 1,800 crore
Sintex said its board has approved plans to raise over Rs 1,800 crore through issue of securities in overseas and domestic markets.
Jaiprakash Power Ventures gets board nod to raise Rs 3,500 cr
The company said it plans to raise about Rs 3,500 cr through issue of securities. The possible options include FCCBs and American Depository Receipts.
Essar Energy to commission power projects by March next year
Essar Energy said it expects to complete three power projects by March next year that would increase its total generation capacity to 4,510 MW.
Yes Bank plans to raise up to $500 mn in FY-12 to fund business growth
The board has approved to raise funds by way of issuance of equity capital of up to USD 500 million in one or more tranches, Yes Bank said in a statement.
ADRs no substitute for FDI
A current account deficit represents the extent to which a country draws on resources from the rest of the world.
Standard charter?
The StanChart experiment is bound to be watched with keen interest.
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