Thunderous Week for EM ADRs
Another boomer that has surged close to 100% within the past one month or so is Spreadtrum Communications (SPRD). The fabless semiconductor company continued its strong run this week as well, piling on another 20.6%. The stock witnessed a host of rating revisions over the week in view of the bullish sentiment for the ticker.
Indian ADRs were not far behind. The entire IT pack comprising Satyam Computer Services (SAY) (+10.9%), Cognizant Technology Solutions (CTSH) (+8%), Wipro (WIT) (+7.6%), iGate Corp (IGTE) (7%), and Infosys Technologies (INFY) (+5%) registered impressive gains.
Indian mining major Sterlite Industries' (SLT) stock was up 7.8% during the week. The stock closed 6% higher in trade on the Indian market on Friday.
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