The BSE Sensex and NSE Nifty closed in the negative terrain for sixth day in a row on Wednesday as concerns regarding the goods and services tax (GST) passage in the ongoing winter session of parliament hurt the market sentiments. Sensex tanked 274.28 points to end at 25,036.05, while Nifty cracked below 7,700-mark by falling 89.20 pts to 7,612.50.
Below are the stocks that remained in the news today:
BHEL: Share price closed 2.61 per cent up at Rs 168.95 after the Heavy Industries & Public Enterprises Minister Anant Geete said that the government has no plans to divest part of its holding in the company.
Dr Reddy’s Laboratories: Shares of the pharma major hit new 52-week low of Rs 2,953.35 amid concerns of currency devaluation in the key market of Venezuela. The share price of the company closed 2.40 per cent down at Rs 2,997.30.
Logistics Company: Share price fell sharply as hopes faded for a quick approval on goods and services tax (GST), seen as beneficial to the firms, after the main Opposition Congress party disrupted Parliament for the second day in a row. Logistics major Container Corporation of India fell 5.59 per cent to Rs 1,340. Others such as Allcargo Logistics, VRL Logistics, Aegis Logistics and Gateway Distriparks slid 5.10 per cent, 1.85 per cent, 6.45 per cent and 1.15 per cent, respectively. Gati slid the most and closed 8.46 per cent down at Rs 151.40.
Electrosteel Steels: Shares of the company gained on Wednesday after the board of the Kolkata-based steelmaker approved an increase in share capital following lenders’ approval to convert debt of Rs 2,507 crore into equity shares. The scrip closed 2.29 per cent up at Rs 4.02.
Bharat Forge: Shares of the company closed 4.15 per cent down after the forging company issued a cautious outlook for this fiscal.