Infosys ADR timing yet to be decided: Infosys Technologies Ltd said it has not determined the timing for its `American Depository Receipts (ADR) offering' in the US, saying it would depend on US regulatory procedures and market conditions. The company has also not determined the pricing for any such offering, which, it said in a release, must be based on market conditions at the time of issue. Infosys said it had not conducted any roadshows or commenced any marketing for the offering. Further announcements about the ADR offering would be made at the `appropriate time', the company added. The company's statement comes in the wake of a number reports about its ADR offering. Infosys had earlier reported that it intends to make an ADR offering in the US and that the government had given preliminary approval for it.

Software scrips lead recovery on DSE: A smart rally in IT and MNC stocks aided a recovery on Delhi Stock Exchange following re-emergence of buying by foreign and domestic financial funds. Prices of other blue chips also recovered to close higher, during the day. Brokers said reports that SBI has raised $ 3.44 billion through its Resurgent India Bonds, also had a positive impact on market sentiments. Reflecting the mood, the DSE sensitive index recovered by 5.05 points to 663.17 points.

Demat trading valued at Rs 38 lakh from 24,000 shares: A total of 24,000 shares valued at Rs 38 lakh were traded in the demat segments on the NSE and the BSE on Monday, according to a press release issued by the National Electronic Settlement and Transfer (NEST). On the NSE, M&M traded 5,100 shares valued at Rs 7.65 lakh in two trades, SBI traded 2,050 shares valued at Rs 3.73 lakh in three trades, HLL traded 100 shares valued at Rs 1.63 lakh in two trades and IPCL traded 6,440 shares valued at Rs 3.18 lakhs in 28 trades. On the BSE, BPCL traded 6,500 shares valued at Rs 16.25 lakh in one trade, SBI traded 200 shares valued at Rs 36,000 in two trades and 100 shares of HLL valued at Rs 1.62 lakh were traded in one trade.

MSE down marginally: After initial weakness stocks recovered on the Madras Stock Exchange (MSE) during the midsession and later settled with fractional to moderate losses or gains on balance on Monday. The sentiment was subdued due to lack of buying support. However, infotech scrips were taken at higher level on speculative buying support. The MSE share price index opened with weak note at 3392.84, moved up to 3410.25 at midsession and settled at 3408.74 as against Friday's close of 3412.40 points.

Equities stage recovery at BgSE: Equities staged a recovery on Monday at the Bangalore Stock Exchange (BgSE). According to marketmen the activity was largely centred around ITC and Satyam Computers. The turnover on the bourse stood at Rs 16.04 crore. ITC firmed up to Rs 610.65 from an opening of Rs 597.95 whereas Reliance fell marginally to Rs 115.25 (Rs 115.50). Satyam Computers, SBI and Tisco closed better at Rs 500.25 (Rs 488.50), Rs 185.20 (Rs 181.50) and Rs 95.55 (Rs 95) respectively. Among others Karnataka Bank was traded at Rs 68.15 (Rs 68.10 ).

Tin and nickel drops in thin trade: Prices of non-ferrous metals declined moderately on metal market today due to poor industrial demand coupled with lower outside advices. Increased arrivals also induced market sentiments. Volume of business remained negligible in view of tight money market conditions. Tin ingot prices dropped by re 1 to Rs 363-364 per kilo on poor demand. Nickel also traded lower at Rs 243-244 against last close of Rs 244-245 per kilo.