Ballarpur Industries, the manufacturer of writing and printing (W&P) paper, shares gained on Wednesday after it announced that the board of International Finance Corporation (IFC) has approved investment comprising a combination of an equity investment of up to USD 100 million and long term loans of up to USD 150 million. The proposed investments would be subject to satisfactory documentation and satisfaction of all necessary conditions of IFC.

Shares of the company are trading at Rs 18.30, up Rs 0.7, or 3.98% at the Bombay Stock Exchange (BSE) on Wednesday at 12:52 p.m.

The scrip has touched an intra-day high of Rs 18.90 and low of Rs 17.80. The total volume of shares traded at the BSE is 1,976,290.