Indian stocks on US exchanges surge as Exit Polls indicate big win for BJP

by IANS |

New York, June 4 (IANS) The surge in stock prices in India fueled by the Exit Polls showing a big win for the BJP has carried on to the stocks of Indian companies trading in the US.

Of the 11 Indian company stocks trading as American Depository Receipts (ADR) on US exchanges, eight of them rose on Monday.

Azure Power Global, a solar energy company, was the big winner going up 8 per cent in Over the Counter (OTC) trading.

It was followed by two banks listed on the New York Stock Exchange (NYSE), ICICI, up 5.89 per cent, and HDFC 5.77 per cent.

On the NASDAQ exchange, the two travel companies came next, with Make My Trip rising 3.2 per cent, and Yatra 2.34 per cent.

Wipro, the technology and consultancy multinational, was up 2.33 per cent on the NYSE.

Also on the NYSE, Dr Reddy’s Lab rose 1.12 per cent and Infosys was up 0.6 per cent.

These stocks reflected the stock market enthusiasm in India, where the Sensex index was up 3.39 per cent and Nifty 50 rose 3.29 on Monday.