Infosys, Wipro ADRs down 3% on NYSE after Q2 results even as S&P, Dow drift near record-highs | Stock Market News
Source: Live Mint
American Depository Receipt (ADR) shares of Infosys and Wipro witnessed a sharp decline on the New York Stock Exchange (NYSE) after revealing its July-September quarter results for fiscal 2024-25 (Q2FY24). Infosys ADR crashed three per cent to $21.6 on the American stock exchange even after the IT major hiked its revenue guidance.
American Depositary Receipt (ADR) serves as a tool for the foreign companies to trade on US stock markets, just like the regular shares of US companies. Also, in theory, an ADR is similar to a special certificate issued by a US bank.
