Welspun Enterprises shares closed 12.17 per cent up at Rs 58.05 the company said it has divested 37 per cent stake in its joint venture firm Dewas Bhopal Corridor Pvt Ltd for Rs 662 crore to the IDFC-sponsored fund, India Infrastructure Fund.
The BSE Sensex and NSE Nifty rebounded on Wednesday to close at a nearly three-week high driven by positive overseas leads on upbeat US data on growth and consumer spending. Sensex ended 259.65 points to end at 25,850.30, whereas Nifty settled 79.85 points up to 7,865.95.
Track how markets performed today
Below are the stocks that remained in focus today
Alkem Laboratories and Dr Lal PathLabs: Shares of drug maker Alkem Laboratories and Dr Lal made a strong debut at the bourses and surged over 31 per cent over the issue price of Rs 1,050 and Rs 550, respectively. Later, share price of Dr Lal Pathlabs and Alkem Labs closed 52 per cent and 31 per cent up from their issue price, respectively.
Welspun Enterprises: Share price of the company closed 12.17 per cent up at Rs 58.05 the company said it has divested 37 per cent stake in its joint venture firm Dewas Bhopal Corridor Pvt Ltd for Rs 662 crore to the IDFC-sponsored fund, India Infrastructure Fund.
Essar Oil: Share price of the company closed 6.04 per cent up at Rs 254.50 after its delisting on Wednesday got through as the markets regulator Sebi gave its go-ahead to the stock exchange BSE to accept nearly 2 crore shares tendered by the state-run LIC for the promoters’ buyout offer.
Suven Life Sciences: Shares of the pharma company were trading 6.38 per cent up at Rs 271.90 (11.25 am) after it secured 7 product patents for their NCE’s in ARIPO, Europe, Hong Kong, Japan, Macau and South Korea. Later, the scrip settled 3.87 per cent up at Rs 265.50.
Larsen and Toubro: Shares of the construction and engineer company closed 1.01 per cent up at Rs 1292.95 after it informed BSE that its subsidiary — L&T Construction — has won orders worth Rs 1,178 crore across various businesses in December 2015.
Oil and Natural Gas Company (ONGC): Share price of the company was trading 1.60 per cent up at Rs 234.40 in morning trade after the Cabinet Committee on Economic Affairs (CCEA) on Tuesday gave its approval for investment of Rs 5,000 crore by Oil and Natural Gas Company (ONGC) into the equity share capital of ONGC Videsh by conversion of existing loan of equivalent amount into equity. Later, the share price of the company closed 2.04 per cent up at Rs 235.40.
Tata Steel: Shares of the steel company closed 2.53 per cent up at Rs 263.70 after the steel major said it is in talks with investment firm Greybull Capital to sell Long Products Europe business in the UK.
Natco Pharma: Share price of the Natco Pharma closed 2.08 per cent up at Rs 575.35 after the company and its US partner Allergan have settled a pending litigation with biopharmaceutical firm Celgene regarding generic Lenalidomide capsules used for treatment of multiple myeloma.
DLF Ltd: Share price of the realty major ended 2.38 per cent up at Rs 116.10 after DLF received Rs 1,992 crore from Singapore’s sovereign wealth fund GIC, thereby completing the deal to sell 50 per cent stake each in two upcoming projects in the national capital.