American depository receipt is the receipt for trading of non US Company in the stock market of USA. IF any non USA company is interested to trade in USA stock market, then it can receive ADR level one, ADR level two and ADR level three. ADR for level one can easily get after accepting the conditions of SEC of USA but major problem is that this ADR can only use for getting investment from USA and it can not be used for getting investment money from any other country. It is the reason that Indian company prefers to get GDRinstead of ADR. Students who are studying finance should understand one thing that ADRs is compulsory to sell shares in USA. No one can sell shares with GDRs as the substitute of ADRs. Any company can start trading in USA stock exchange after buying ADRs from New York Stock exchange or NASDAQ.
Indian ADR Trading in US
| ADR ISSUE | SYMBOL | INDUSTRY | EXCH |
| DR. REDDY'S LABORATORIES LTD. | RDY | Pharmaceutical | NYSE |
| HDFC BANK LTD. | HDB | Banks | NYSE |
| ICICI BANK LTD. | IBN | Banks | NYSE |
| INFOSYS TECHNOLOGIES LIMITED | INFY | Technology Services | NASDAQ |
| MAHANAGAR TELEPHONE NIGAM LIMITED | MTE | Fixed Line Comm. | NYSE |
| REDIFF.COM INDIA LTD | REDF | Technology Services | NASDAQ |
| SATYAM COMPUTER SERVICES LIMITED | SAY | Technology Services | NYSE |
| SIFY LTD. | SIFY | Technology Services | NASDAQ |
| VIDESH SANCHAR NIGAM LIMITED | VSL | Fixed Line Comm. | NYSE |
| WIPRO LTD. | WIT | Technology Services | NYSE |
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