Markets hit record highs after exit polls predicted a landslide victory for the ruling BJP-led NDA alliance. Its effect is also visible on American exchanges. The shares of Indian companies that do business here have risen tremendously.
Shares of eight of the 11 Indian companies traded on US exchanges in the form of American Depositary Receipts (ADRs) rose.
Azure Power Global, a solar energy company, was the top gainer in over-the-counter (OTC) trading with an 8 percent gain.
Following this, two banks listed on the New York Stock Exchange, ICICI and HDFC, have also benefited. While ICICI shares gained 5.89 percent, HDFC shares jumped 5.77 percent.
Two travel companies Make My Trip and Yatra.com ranked second on the Nasdaq exchange. Make My Trip was up 3.2 percent, while Yatra.com was up 2.34 percent.
Multinational IT company Wipro was up 2.33 percent on the New York Stock Exchange.
Dr. on the New York Stock Exchange. Reddy’s Lab rose 1.12 percent, while Infosys gained 0.6 percent.