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.

9. Sohu.com ( SOHU) is a China-based Internet company providing news, information, entertainment and communication services. The company derives revenue from online advertising, games and wireless business. The stock accumulated 24.3% during the past one month.

For the fourth quarter ending December 31, 2010, Sohu reported 40.8% surge in earnings per share to $1.07, compared to the year-ago quarter. Meanwhile, revenue for the quarter rose 27% to $173.2 million with online game revenue growing at 30%, brand advertising revenue increasing 31% and overseas licensing revenue climbing 7%.

Looking ahead, Sohu estimates total revenue to come in the range of $164.5 to $169.5 million, beating analysts' estimates. Revenue from Changyou is expected between $92 and $95 million. Sohu is seen benefiting from its strong advertising segment. Year-over-year increase in brand advertising is projected at 39% to 44%. Earnings per share are likely to come in between $1.03 and $1.08.

8. China's LDK Solar ( LDK), is engaged in the production of solar wafers and solar modules. Sales of multicrystalline and monocrystalline wafers, increased 23.1% during the past one month.

Of the 22 analysts covering the stock, 41% recommend a buy while 41% suggest a hold. On average, analysts polled by Bloomberg foresee the stock rising 17.9% in the upcoming 12 months.

The company's efforts to accelerate and complete the 1.5 gigawatt cell and module production facility in Hefei, a technology sharing agreement with U.S. National Renewable Energy Laboratory (NREL), strong relationship with Tinsinghua University and its interest to invest in research and development indicate a bright future for LDK Solar. The company recently announced plans to raise $149 million through a secondary share offering on the NYSE for general corporate purposes and is keen to buy a 70% controlling stake worth almost $33 million in Solar Power. This will ramp up its large utility, industrial and business level distributed generation systems.

The company expects fourth quarter sales in the range of $870 to $910 million, compared to the older estimate of $710 to $750 million. LDK Solar has raised gross margin guidance range to $25% to 27% from the earlier $24% to 26%. Revenue growth for 2011 is projected at $3.5 to $3.7 billion with gross margins between 23% and 28%.

7. China's Sina ( SINA) is an online media company and mobile value-added service (MVAS) provider operating through five business lines which provide an array of internet-related services. The stock gained 19.5% during the past one month.

Sina rallied largely on speculation of Baidu.com ( BIDU) and Alibaba.com investing in its micro blogging website Weibo. Recent reports revealed that the companies plan to invest $100 million in Weibo. Leading mobile phone maker Nokia ( NOK) has signed agreements with Sina and Tencent to integrate their services with Nokia's Ovi maps in China during the first quarter of 2011.

The company recently announced its decision to foray into the online payment gateway through the launch of its own online payment tool. As the deadline for obtaining permit for online payment solution is September 2011, Sina intends to apply for the license to launch its operations. The service will support the company's group purchase discount service.

6. Embraer ( ERJ) manufactures commercial aircraft and supplies defense aircraft for the Brazilian Air Force. The stock gained 17.3% during the last one month.

For full year 2010, Embraer deliveries totaled 246 jets, with 92 jets in the fourth quarter. At the end of 2010, the aircraft manufacturer's order backlog was valued at $15.6 billion, up 2% from September 30, 2010. During 2010 fourth quarter, the company was certified to launch the operations of a new Embraer executive jet. From October to December 2010, eight jets were delivered to the U.S.

Embraer assembly plant for its Phenom 100 and 300 business jets is set to flag off in Melbourne, Florida late February. Looking ahead, Embraer has signed a deal with Dniproavia for the delivery of 10 Embraer 190 jets valued $400 million, likely to reach $600 million if the option of 5 more jets is exercised. The delivery will begin during the fourth quarter of 2011. Embraer will begin delivering eight light-attack aircraft to the Indonesian Air Force in 2012.

5. Baidu.com ( BIDU), is a Chinese language Internet search engine operating in China through its wholly owned subsidiary Baidu Online Network Technology (Beijing). The stock gained 11.2% during the past one month.

Of the 30 analysts covering the stock, 77% recommend a buy while 17% suggest a hold. On average, analysts polled by Bloomberg expect the stock to gain 8.9% in the upcoming 12 months.

For the fourth quarter, net profit tripled to $175.9 million, compared to $62.7 million a year ago. Revenue doubled to $371.3 million, topping analysts' estimates. Notably, during the quarter active advertisers soared 24% with the addition of 4,000 new advertisers during the period. For the fourth quarter, the company accounted for 75.5% of the search engine market in China worth $585 million.

Baidu expects total revenue for 2011 first quarter to range between $360.6 million and $371.2, ahead of street estimates, anticipating incremental advertiser spending and new Internet trends such as social networking in China. During the first quarter of 2011, Baidu is planning an aggressive marketing campaign to increase search awareness and also focus on investments in server networks and offices.

4. TIM Participacoes ( TSU) is a Brazil-based mobile telecommunications service provider using global system for mobile communication technology (GSM). The stock rose 11% during the past one month.

Of the 12 analysts covering the stock, 83% recommend a buy while the remaining suggest a hold. On average, analysts polled by Bloomberg see the stock gaining 9% in the upcoming 12 months.

For 2010, Tim occupied the third place with a 25.1% market share in Brazilian mobile phone subscriptions. The mobile telephony market expanded 16.7%, compared to the previous year. Vivo Participacoes ( VIV) and Claro, a subsidiary of Mexico-based America Movil SAB ( AMX), stood at the first and second position with a market share of 29.7% and 25.4%, respectively.

Analysts at BTIG Research estimate that for the fourth quarter the telecom service provider will record 3.6 million net additions, led by its popular calling plans. Heading into 2011, the company's EBITDA growth is likely to more than double to above 20%, led by market share gains and additional growth in the wireless data segment. TIM sees record 7.1 million net additions to its subscriber base next year.

3. Trina Solar ( TSL) is a China-based integrated solar-power products manufacturer with global distribution networks across Europe, North America and Asia. It is engaged in the production of monocrystalline photovoltaic (PV) modules. The stock accumulated 8.8% during the past one month.

Of the 32 analysts covering the stock, 84% recommend a buy while 6% suggest a hold. On an average, analysts polled by Bloomberg expect the stock to increase by 24.2% in the upcoming 12 months.

For the third quarter, sales doubled to $508.3 million and profit surged 108% to $82.9 million, on booming demand from Germany. Trina plans to invest $800 million to develop a solar PV park in China in the next three years, boosting its manufacturing and research and development competence.

Trina's CEO expects oversupply in the near term following capacity expansion in 2010. He foresees a 30% year-over-year incremental demand growth for polysilicon products in 2011. For 2010, Trina's aggregate shipments were 930-940 megawatts, a stellar 135.6% increase from 2009, almost close to its output capacity for 2010.

2. India's Sify Technologies ( SIFY) is an integrated internet, network and electronic commerce services company operating in three main segments: corporate network/data services, internet access services and development of e-learning software. The stock rose 8.7% during the past month. .

In January 2011, Sify's promoters infused $21.7 million to expand its data center and network. Earlier, in a press release, the company stated that it would shift its focus to the U.S. market growth, both horizontally and vertically. The company's new data center in Noida, India is scheduled for completion in 2011.

For the third quarter, despite a revenue growth of $38.7 million, compared to $38.5 million in the year-ago quarter, net loss was $2.09 million as against a net profit of $9.25 million earlier, partly because of the absence of other income, which stood at $0.44 million during the quarter, compared to $13.4 million in the year ago quarter.

1. India's Syntel ( SYNT) is engaged in providing information technology and knowledge process outsourcing (KPO) services with offerings in four segments: applications outsourcing, KPO, e-business and TeamSourcing. The stock advanced 8.2% during the past one month.

Of the 12 analysts covering the stock, 67% rated buy while the remaining advised hold. On an average, analysts polled by Bloomberg expect the stock to increase by 6.1% in the upcoming 12 months.

The company is due to report its fourth quarter results in the current week. Analysts at SmarTrend estimate Syntel to report earnings per share of 68 cents on sales of $147 million. For full year 2010, it forecasts earnings per share of $2.69, compared to 86 cents recorded in 2009.

The company is exploring the scope for launching a new 25-acre centre at ELCOT's IT Park in India. JPMorgan believes that Syntel's exposure to healthcare and financials verticals will strengthen its position in the upcoming months. Moreover, the research firm adds that IT services stocks are likely to register strong performance in 2011, compared to market and data processors on a favorable demand environment.
This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

If you liked this article you might like

3 Stocks Pushing The Internet Industry Lower

3 Stocks Pushing The Internet Industry Lower

3 Stocks Advancing The Internet Industry

3 Stocks Advancing The Internet Industry

3 Internet Stocks Pushing Industry Growth

3 Internet Stocks Pushing Industry Growth

3 Stocks Pushing The Internet Industry Lower

3 Stocks Pushing The Internet Industry Lower

3 Stocks Pushing The Internet Industry Lower

3 Stocks Pushing The Internet Industry Lower