This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Friday's Asia ADR Recap: Infosys

Indian shares closed on an up note Friday after government data showed the nation's GDP grew by 9% in 2007-08, second only to fast-growing China. Analysts said the high GDP growth was due to a strong performance in the country's agriculture sector.

However, stock gains were kept in check after inflation data represented by the wholesale price index (WPI) jumped to a four-year high at 8.1% for the weekend ending on May 17, vs. 7.82% from the previous week.

"Nobody has drawn any great satisfaction at 8.1% inflation -- 8.1% is a worrisome inflation. But the measures we have taken have contained inflation. We are confident that we will gain mastery over this inflation and inflation will be contained over time," Finance Minister P. Chidambaram said.

"However, moderation in inflation depends on global crude oil and commodity prices," he said. "Surely, we are still in full control over the situation."

The Bombay Stock Exchange's Sensex Index climbed 99.31 points, or 0.6%, to 16,415.57. Here's a look at how some India-based American depositary shares traded in the U.S. Friday.

Indian technology stocks were in play Friday after J.P. Morgan raised its price targets for the five biggest software companies, citing a better earnings environment due to a depressed rupee and changes to tax laws. J.P. Morgan raised its end-of-year price target for Tata Consultancy Services by 24% and for Infosys Technologies (INFY - Get Report), it bumped its price target by 27%. American depositary shares of Infosys, which trade on the Nasdaq, soared 8.2% to $49.11 on heavy volume.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
JRJC $4.01 0.00%
INFY $19.00 0.00%
RDY $64.27 0.00%
YGE $0.46 0.00%
WIT $12.38 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs