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
TheStreet Open House

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), 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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs