Monday's Asia ADR Recap: Tata Motors

Stocks in India fell sharply Monday as Prime Minister Manmohan Singh warned the government isn't capable of protecting the consumer from the impact of surging oil prices. Singh's comments coudl mean a fuel price hike is in the cards.

"There was no sharp selloff in global markets neither was there any negative news on the domestic front. The only semblance of logic to today's market fall could be that the market reacted to Friday's inflation data today. As far as the decision on fuel price hike is concerned, it is already factored in," said Arun Kejriwal, director at Kejriwal Investment Services.

The Bombay Stock Exchange's Sensex Index plunged 352 points, or 2.2%, to 16,063. Here's a look at how some India-based American depositary shares traded in the U.S. Monday.

Sterlite Industries (SLT), a Indian non-ferrous metals and mining company, announced it has purchased nearly all of the operating assets of bankrupt U.S.-based mining company Asarco LLC for $2.6 billion in cash. Under the terms of the deal, Sterlite will acquire three open-pit copper mines and a copper smelter in Arizona, along with a copper refinery, rod and cake plants and precious metals facilities in Amarillo, Texas. Sterlite said it will finance the deal through a mix of debt and cash resources and the acquisition is subject to approval by the U.S. Court for the Southern District of Texas. American depositary shares of Sterlite, which trade on the NYSE, closed down 1.5% at $21.80.