Monday's Asia ADR Recap: VisionChina

Strong global cues helped push Indian stocks to a one-week high on Monday as Far East investors found bargains in banking, realty and information technology names. Market players said Asian stocks were helped by a strong rally in the dollar against the yen and by the easing of crude oil prices after news broke that Saudi Arabia plans to increase oil production in July by a half-million barrels a day.

"We are following the global markets rally," said Jayesh Shroff, who helps manage abound $7.5 billion at SBI Asset Management Company.

The Bombay Stock Exchange's Sensex Index traded up 206.20 points, or 1.4%, to 15,395.82. Here's a look at how some India-based American depositary shares traded in the U.S. on Monday.

The index committee for the Bombay Stock Exchange has introduced some changes to the firms that make up the Sensex index. Starting on July 28, Tata Power and Sterlite Industries(SLT Quote) will replace Ambuja Cements and Cipla. American depositary shares of Sterlite, which trade on the NYSE, added 1.3% to $18.63.

Citigroup upgraded India-based banking giant HDFC Bank(HDB Quote) from hold to buy and set a price target of $105 per share. In a note to clients, a Citigroup analyst said: "The stock is 35% off its peak, the operating business and outlook remain un-dampened. HDFC Bank is still not cheap, but the market usually is prepared to pay for quality in tough times. Now is the time to buy, in our view." Shares of HDFC Bank jumped 1.3% to $85.76.

WNS Holdings(WNS Quote), a Mumbai-based provider of offshore business process outsourcing services, announced it has acquired U.K.-based SAP solutions provider Business Applications Associates. The buyout will help WNS service global clients in transforming shared finance and accounting functions. Shares of WNS fell 1% to $18.32.