Infosys shares gained over 2.5 per cent on Wednesday after the company said that the US Labor Department cleared the IT major of any wrongdoing and has closed the investigation into US Visa violation case.
The BSE Sensex jumped 401.71 points, or 1.59 per cent, at 25,719.58 on Wednesday. NSE Nifty also advanced 130.35 points, or 1.70 per cent, at 7,818.60. In the 50-share Nifty index, NDMC, Hindalco, Vedanta, NTPC and Tata Steel gained between 4 per cent and 8.50 per cent. Bosch, Tech Mahindra, Sun Pharma, Power Grid and Wipro declined between 0.25 per cent and 0.66 per cent and stood at the bottom on the performance chart of the index.
Vijay Singhania, founder, director, Trade Smart Online, said, “Markets rallied in response to global relief rally sponsored by reforms and stimulus measures by the Chinese government. On the domestic front, positive signs emerging from the government on the reforms front following the Prime Minister’s meeting with industry representatives on Tuesday boosted sentiments.”
Below are the stocks that remained in news today
Navkar Corporation: Shares of logistics company Navkar Corporation made a muted debut on the bourses on Wednesday but surged over 7 per cent above its issue price of Rs 155. The scrip closed at Rs 166.40.
Hero MotoCorp: Hero MotoCorp shares rose as much as 2.27 per cent intraday on Wednesday after the company informed stock exchanges that it has inaugurated its first global manufacturing facility at Villa Rica, in Colombia. The share price of the company closed 1.31 per cent higher at Rs 2,347.75.
Infosys: Infosys shares gained over 2.5 per cent on Wednesday after the company said that the US Labor Department cleared the IT major of any wrongdoing and has closed the investigation into US Visa violation case. The scrip closed 2.76 per cent higher at Rs 1,088.50.
Hinduja Ventures: The company post market hours on Tuesday said that its subsidiary, Grant Investrade, has bagged the operating licence for the HITS (Headend-in-the-Sky) digital television services from the Ministry of Information & Broadcasting. The share price of the company jumped 4 per cent to Rs 379.80 on Wednesday.
Tata Power: Tata Power started work to set up its Rs 450 crore defence manufacturing facility in Karnataka with the state’s Chief Minister Siddaramaiah laying its foundation stone.
Bharti Airtel, Idea Cellular and RComm: The Cabinet cleared spectrum trading guidelines on Wednesday under which telecom operators will be able to sell radiowaves to other service providers, a move that will help address the problem of spectrum shortage. Cheering the announcement, share price of Reliance Communication surged 11.57 per cent to Rs 62.20, followed by Bharti Airtel and Idea Cellular which gained 2.44 per cent and 2.12 per cent at Rs 355.20 and Rs 149.20, respectively.