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

Wednesday's Asia ADR Recap: Infosys

Indian shares closed lower Wednesday as investors in the region locked in profits, breaking a two-day rally. Market players in India said investor fears of higher inflation readings and political concerns over a nuclear deal meeting with the UPA Government damaged sentiment.

"We've had a smart two-day rally," said Jayesh Shroff at SBI Asset Management. "Until the other problems of high oil prices and inflation remain, markets will struggle to perform."

The Bombay Stock Exchange's Sensex Index fell 274.59 points, or 1.8%, to 15,422. Here's a look at how some India-based American depositary shares traded in the U.S. Wednesday.

Susquehanna Financial downgraded Indian technology services company Infosys Technologies (INFY - Get Report) from positive to neutral, citing valuation. In a note to clients, analyst James Friedman said: "Infosys has rallied almost 50% since its March lows, and has approached our $50 price target. Our analysis suggests the shares look rich on a PEG and P/S basis." Friedman suggested that investors consider swapping Infosys for Satyam (SAY) or Cognizant Technology Solutions (CTSH) for their cheaper PEG ratios. American depositary shares of Infosys, which trade on the Nasdaq, fell 2.8% to $45.43, while ADR shares of Satyam dipped 2.5% to $26.16; and shares of Cognizant Technology finished unchanged at $35.73.

India-based Tata Communications (TCL) announced it has acquired a 50% stake in telecommunications services and integrated IT solutions provider China Enterprise Communications through an equity joint venture to sell network services in China. The financial details of the deal were not disclosed and the venture will need approval from the Chinese government and regulators. Shares of Tata Communications plunged 4.4% to $19.37.
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
MTE $0.90 0.00%
AAPL $111.74 2.00%
CHU $12.72 0.59%
INFY $19.11 -0.26%
SOL $1.34 0.00%


Chart of I:DJI
DOW 17,050.26 -0.49 -0.00%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,817.82 +7.0320 0.15%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs