NEW YORK ( TheStreet) -- Global markets had a mixed performance during the past one month, characterized by rising interest rates and inflation, improving industrial activity, strong global economic growth and falling U.S. jobless claims. Major emerging market indices faced declines during the past one month, with the Shanghai Composite edging 0.3% lower, while Brazil's Bovespa and India's Nifty were 6.7% and 9.4% down respectively. However, the S&P 500 and Dow Jones rose 3.7% and 4.2%, respectively.
Despite the overall lackluster performance displayed by emerging markets, a few emerging market ADRs generated lucrative returns for investors during the past one month. We present 10 such stocks, which, on average, gained between 8%-27% during this period.
10. Rediff.com (REDF) is an India-based Internet portal operating in two major segments: India Online Business and U.S. Publishing Business. The stock gained 26.9% during the last one month.
For the third quarter ending December 31, 2010, overall India revenue including fee-based and online advertising rose 31%, while global revenue increased 25%, compared to the year-ago quarter. According to measured data of comScore Media Metrix, the company's active user base in India grew 38% year-over-year, surpassing market growth. Cash balance including interest accrued stood at $39 million, demonstrating adequate working capital for executing ongoing and future strategies.
Looking ahead, the company expects to invest $1 to $1.5 million per quarter in product development and brand building during the year to sustain the growth momentum of internet search users and to enhance the Rediff experience.