American Depository Receipts of several Indian Companies were trading in red on Tuesday. ADRs of several Indian companies slipped, even when the US Indices were trading higher.
ADRs of Infosys was down by 2.1%, following the company’s unexpected move of cutting its sales growth guidance for 2017-18 (Apr-Mar) across currencies. Also, the Jul-Sep performance of Infosys was as per the expectations.
Among the top gainers was ICICI, whose ADRs shot up by 8.2%, making it the top gainer.
On the contrary, Dr. Reddy’s Laboratories and Wipro felt the market pinch and ended the trade in red, slumping down by 0.7% and 2.2% respectively.