Why are all stocks selling for half price on the Bombay Stock Exchnge?

spino1i · #1 04-23-2007, 03:49 AM

I look at Satyum Computing and the stock is selling for 485 rupees (presumable per share) on the Bombay stock Exchange. Yet it seems on the NYSE for $25.70 per share. 485 rupees/(41.7 rupees/dollar) = $11.63 per share.. wtf is going on here? Am I misreading the Bombay Stock Exchange website or something?

Evan · #2 04-23-2007, 03:52 AM

Often ADR's (the versions of foreign stock traded on American exchanges) are not in a 1:1 share ratio.

Sniper · #3 04-23-2007, 04:08 AM

I would go with, there was a split in October '06 that has something to do with it...

TLC · #4 04-23-2007, 09:05 AM

To expand on Evan's comments, look it up at http://www.adr.com and you will see that the ADR has a 1:2 ratio.

nineinchal · #5 04-23-2007, 01:55 PM

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I look at Satyum Computing and the stock is selling for 485 rupees (presumable per share) on the Bombay stock Exchange. Yet it seems on the NYSE for $25.70 per share. 485 rupees/(41.7 rupees/dollar) = $11.63 per share.. wtf is going on here? Am I misreading the Bombay Stock Exchange website or something?

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That's why I like eating at an Indian restaurant. I get twice as much food at half the price.