Stocks Went Up: ICICI Bank Ltd (ADR) (NYSE:IBN), Rediff.com India (NASDAQ:REDF), Sify Technologies Limited (ADR) (NASDAQ:SIFY), The India Fund (NYSE:IFN)

Technology Stocks News 9

U.S.-listed HDFC Bank (HDB) shot up 6% Friday and 15% so far in May. ICICI Bank Ltd (ADR) (NYSE:IBN) leapt 10% Friday and nearly 20% so far in May. Some observers question how well Modi’s hard-nosed style will work in India’s fractious democracy and whether he’ll get industry leaders and policymakers to buy into his new system. ICICI Bank Ltd (ADR) (NYSE:IBN) stock performance was 10.01% in last session and finished the day at $51.01. Traded volume was 5,702,364 shares in the last session and the average volume of the stock remained 2.17 million shares. The beta of the stock remained 1.93.

Rediff.com India Limited (ADR) (NASDAQ:REDF), one of the premier news and online marketplaces in India, today announced that Rediffmail Enterprise, the Company’s business and professional email solution, has been selected as the 2014 CIO Choice Award winner in the Enterprise Email category through an independent voting survey conducted by the Centre of Recognition & Excellence. Rediffmail Enterprise was chosen as the best enterprise email solution according to a survey of more than 300 CIOs across India, who rated the platform for its performance, customer satisfaction and continued customer service. Rediff.com India Limited (ADR) (NASDAQ:REDF) rose 4.81% to $2.18 yesterday on volume of 269,581 shares. The intra-day range of the stock was $2.10 – 2.27. Rediff.com India Limited (ADR) (NASDAQ:REDF) has a market capitalization of $60.15 million.

Saravanan Jagannathan, Backup & Storage Administrator, Sify Technologies Limited (ADR) (NASDAQ:SIFY), said: “The new web-based console for NetVault Backup 10 will be a time saver for our administrators; you can monitor and access all the options from a single window.” Sify Technologies Limited (ADR) (NASDAQ:SIFY)’s stock on May 16, 2014 reported a increase of 4.11% to the closing price of $2.00. Its fifty two weeks range is $1.55 – 2.85. The total market capitalization recorded $357.03 million. The overall volume in the last trading session was 284,299 shares. In its share capital, Sify Technologies Limited (ADR) (NASDAQ:SIFY) has 178.32 million outstanding shares.

The India Fund, Inc. (NYSE:IFN), overall option implied volatility of 27 is near its 26-week average of 28 according to Track Data, suggesting non-directional price movement on India national elections that began on April 17 and continuing on nine separate dates until May 12 with results expected to be announced on May 16. On Friday, shares The India Fund, Inc. (NYSE:IFN) advanced 5.34% to close the day at $24.25. Company return on investment (ROI) is 0.50% and its monthly performance is recorded as 9.68%. The India Fund, Inc. (NYSE:IFN) quarterly revenue growth is 21.86%.

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