The Skindia GDR index, which had breached the 1,000 point mark before settling at 999.93 points on April 9, closed at 979.02 points on April 16. During last week, 24 out of the 65 GDRs recorded gains, against 39 of the underlying shares gaining over the same period. 29 GDRs remained unchanged while 12 were losers. In contrast, none of the underlying shares remained unchanged and 26 of them suffered losses.

The top gainers among GDRs were CESC which moved up 26.09 per cent to close at $1.45, SAIL which closed at $5.75 up 17.35 per cent and Arvind Mills which gained 13.16 per cent to close at $2.15.

Among the losers were Videocon International, whose promoters have just made an open offer to pick up a 2 per cent stake from the public. The GDR fell 17.93 per cent in the past week to close at $2.38. MTNL and Telco were the other prominent losers.

GDRscommanding a premium on the underlying shares included Oriental Hotels which is commanding a 170.77 per cent premium over its underlying share, Cromptom Greaves at a premium of 73.98 per cent and Ranbaxy Labs at 39.19 per cent.

On the other hand, the GDRs being traded at a discount include JCT Ltd which is traded at a discount of 102.82 per cent, GNFC at 64.53 per cent and Usha Beltron at 61.25 per cent.

During the week, the steel-sector GDRs were in the limelight recording a 8.67 per cent gain followed by power-sector stocks at 7.77 per cent and fertilisers at 5.93 per cent.