The benchmark BSE Sensex snapped two-day losing streak and closed over 171 points higher on Wednesday powered by recently beaten-down stocks amid a higher opening in European markets.Nifty gained 33.95 points at 7845.95.
Stocks that made news today
Visa Steel: Visa Steel shares jumped as much as 20 per cent in the early trade on Wednesday after Financial Express reported that lenders of the company have decided to convert a large portion of their loans into equity using the Reserve Bank of India’s (RBI) strategic debt restructuring (SDR) scheme. The scrip closed 19.94 per cent up at Rs 17.32.
Dishman Pharma: Shares of Dishman Pharmaceuticals surged after the company informed BSE that it has received a license agreement from Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen) to produce the Active Pharmaceutical Ingredient (API) of SIRTURO (bedaquiline), a medicine used in the treatment of Multi-Drug Resistant Tuberculosis (MDR-TB). The scrip closed 16.22 per cent up at Rs 306.95.
SKS Microfinance: SKS Microfinance shares closed 1.15% up at Rs 396.90 after it reduced the interest rate charged to its borrowers from 22 per cent to 20.75 per cent on income generating loans to be extended with effect from October 1, 2015.
Motherson Sumi: Motherson Sumi Systems shares snapped two-day losing streak on Wednesday as the scrip closed 1.94 per cent up at Rs 246.60. The stock of the company was under pressure after its biggest client, Volkswagen, admitted to rigging American emissions norms and thereafter halting sales of diesel cars in the US market.