ITC shares reacted positively with this development, as the share price quoted at Rs. 278 per share, up by 0.72 percent intraday.
Share benchmarks have closed on a lower note on Wednesday, amid investors keenly awaited for cues from US Fed meeting that ends later today. The BSE Sensex fell 109.79 points to 36,542.27 while the Nifty50 index fell 13.70 points to 11,053.80.
Indiabulls Housing Finance, UPL, Vedanta, Titan, Hindalco were among major gainers on the NSE, while Tata Motors, SBI, Bharti Infrael, ITC and Wipro were top losers.
Shares in Sugar production companies rose after the Union Cabinet in its meeting today approved increasing ethanol prices by up to 25 percent. Getting impacted on the news, interestingly shares of Shree Renuka Sugars advanced 11.74 percent, followed by Dhampur Sugar Mills 9.72%, Ugar Sugar up 5.81%, Sakthi Sugar 5.67% and Mawana Sugar up 2.11%, on Wednesday.
The Stock Markets, NSE and BSE will remain closed on Thursday, 13 September on account of GANESH CHATURTHI. 14-SEP-18 CALLS..