Stocks that made news today: Sun Pharma, Vedanta and more

The benchmark Bombay Stock Exchange (BSE) Sensex closed over 258 points higher on a flurry of buying by investors amid a firming trend overseas ahead of the Fed's rate decision this week.

The 30-share index rose 258.04 points, or 1 per cent, to close at 25,963.97.

On similar lines, the National Stock Exchange (NSE) Nifty closed 70.05 points or 0.89 per cent higher at Rs 7,899.15.

Below are the key stocks that made news today:

• Sun Pharma: Drug firm Sun Pharmaceutical Industries has entered into an agreement with InSite Vision to acquire the US-based eyecare firm for around $48 million plus related debt and other transaction costs to strengthen its branded ophthalmic portfolio in the US. Shares of the company closed at Rs 887.35 apiece, higher by 2.38 per cent from its previous close.
• Orchid Chemicals: Drug firm Orchid Chemicals & Pharmaceuticals announced on Wednesday it is in talks with banks to convert its rupee debt into dollar-denominated one. Reacting to this, shares of the company jumped over 6 per cent during the day, before closing at Rs 54.25 apiece, higher by 2.84 per cent.
• United Spirits: Shares of United Spirits (USL) fell over 1 per cent on Wednesday following the reports that the Serious Fraud Investigation Office (SFIO) was probing alleged fund diversions by the long-grounded Kingfisher Airlines to other group firms and has sought details from United Spirits. Shares of the company closed at Rs 3169.70 apiece, lower by 1.13 per cent from its previous close on BSE.
• Vedanta: Metals and mining conglomerate Vedanta said on Tuesday it has received nod from both BSE and NSE on the proposed merger of its oil and hydrocarbon arm Cairn India with itself. Shares of the company closed at Rs 98.95 per share, higher by 2.12 per cent.
• Indiabulls Housing Finance: Indiabulls Housing Finance (IHFL) said the company board on Tuesday approved an allotment of over 5.6 crore equity shares worth Rs 3,996.79 crore to qualified institutional buyers (QIBs). Shares of the firm closed 2.41 per cent lower at Rs 731.65 per share.