Trump Tariff Impact: Infosys, Wipro, HDFC Bank, Other ADR Shares Drop After US Levies 50% Tariff On India

Trump Tariff Impact: American Depository Receipt (ADR) shares of India's major blue-chip companies listed on the New York Stock Exchange (NYSE) dropped on Wednesday, Aug. 6, after US President Donald Trump announced that he has imposed a supersized 50% tariff rate on India.

ADR shares of NYSE-listed Indian stocks such as IT giants Infosys and Wipro, banking major HDFC Bank, and Dr Reddy's Laboratories fell after the tariff announcement. Wipro ADR last dropped 0.56% to $2.665 on the American stock exchange, while Infosys ADR was down 0.43% to $16.13.

Banking heavyweight listed on NYSE, including HDFC Bank also traded lower. HDFC Bank ADR last dropped 0.03% to $75.71 at the time of writing. Pharmaceutical giant Dr Reddy's Laboratories ADR logged the steepest cut among the pool, dropping by 1.65% to $13.445 on the NYSE at the time of writing.

ADR is a tool for foreign companies to trade on US stock markets, just like the regular shares of listed US-based companies. ADR shares are said to be negotiable securities. In theory, an ADR is similar to a special certificate issued by a US bank.

The Indian stock market eyes a gap-down opening on Thursday, Aug. 7, after Donald Trump's latest tariff tirade against India for purchasing Russian oil. Gift Nifty traded around 24,535.50, down nearly 95 points, a discount of 79 points from the Nifty futures’ previous close at 24,628, indicating a muted start for the Indian stock market on Aug. 7, 2025.

On Wednesday, Trump has signed an executive order mandating the imposition of additional import levies on India. The 50% tariff rate is the highest among Asian peers and equals Brazil's rate. Last week, Trump had announced a 25% tariff rate on India and also had also threatened to impose additional 'penalties' on the country for its import of Russian oil.