Shares of Syngene International rose sharply by 9 per cent today as the contract research firm has acquired the assets of Strand Life Sciences related to systems biology and pharma bioinformatics services for an undisclosed sum.

The scrip soared 8.96 per cent to touch its one-year high of Rs 524.45 on the BSE.

On the NSE, shares of the company surged 9 per cent to Rs 523.90 — its 52-week high.

As part of a deal reached between the two firms, Syngene will also acquire the target dossier business and rights to NGS (next generation sequencing) data analytics and Sarchitect platforms and Heptox.

“We believe Strand’s bioinformatics platforms not only complement our existing integrated service platforms but will also meet our customers growing needs for bioinformatics and data analytic support,” Syngene International CEO Jonathan Hunt said.

Strand NGS is an integrated platform that provides analysis, management and visualisation tools for next-generation sequencing data, the statement added.

TCS, Wipro

IT stocks fell on stronger rupee.

Only 11 stocks on the NSE index fell with software service providers being the main decliners on a stronger rupee. The Nifty IT index fell as much as 0.43 per cent with Tech Mahindra being the top percentage loser

Tata Consultancy Services fell 0.80 per cent, HCL Technologies declined 0.33 per cent, Wipro dropped 0.37 per cent, and Infosys was down 0.25 per cent.

Idea Cellular fell as much as 0.71 per cent. Tata Power was down as much as 0.46 per cent.

NSE index was up 1.07 per cent, while BSE index was 1.04 per cent higher after the Federal Reserve left US interest rates unchanged and slowed the pace of future hikes on Wednesday.

Indian Oil, GAIL

Shares of Indian Oil and GAIL rose on plans to buy into LNG terminal.

Indian Oil Corp rose as much as 1.1 per cent, and GAIL (India) Ltd gained as much as 1.34 per cent.

Refiner Indian Oil Corp and gas transporter GAIL (India) plan to buy combined 49 per cent stake in liquefied natural gas terminal being built in Odisha.

Purchase price for the stake was not disclosed but Indian Oil Chairman B. Ashok told a news conference on Wednesday that the project would cost Rs 6,000 crore ($897 million).