Indian ADRs Post Another Solid Week

Indian stocks had another great week last week as stocks moved up across the board.

Key highlights:

- The BSE Sensex had another up week. Sensex made another all-time high in the middle of the week but closed the week at 13,703.33, up 2.04% for the week.
- Infosys (Nasdaq: INFY) had a down week for a change. The company announced the pricing of its secondary offering of 30,000,000 American Depositary Shares (ADSs), representing 30,000,000 equity shares (one equity share represents one ADS) at a price of US$53.50 per ADS. The total offering exceeds US$1.6 billion. The stock fell on the news and is near its offering price.
- Sify Ltd. (Nasdaq: SIFY) led the Indian stocks this week with a gain of 9.70%. Sify’s subsidiary received the licensing to offer International Long Distance [ILD] and National Long Distance [NLD]. So what does that mean?
- It seems like every week I say the same thing concerning the two Indian Banks. ICICI Bank (NYSE: IBN) and HDFC Bank (NYSE: HDB) both had another up week.
- There is some talk that ICICI Bank is looking to enter the US Market.

Disclosure: I am long Sify.