SBI, Samvardhana Motherson, ACC and more: Key stocks that moved the most on October 18
Bank stocks | The Nifty PSU index gained the most among sectoral indices, up nearly 4 percent. The shares of Central Bank, Bank of Maharashtra, Indian Overseas Bank, UCO Bank, PSB, Bank of India, Bank of Baroda, SBI, Union Bank, Punjab National Bank, Indian Bank, Canara Bank, ended 0.8 to 5.4 percent higher.Wipro Ltd | Software services exporter Wipro has announced a strategic deal with Finland-based stainless steel manufacturer Outokumpu to accelerate the latter’s cloud transformation for applications. The five-year strategic partnership will strengthen Wipro and Outokumpu’s existing eight-year alliance which focuses on productivity and customer-centricity. Its stock ended 1.1 percent up.Zee Entertainment Enterprises Ltd | Shares of Zee Entertainment gained as much as 5.5 percent in early trading on Tuesday after OFI Global China Fund, an associate of Invesco sold 5.2 crore shares or 5.51 percent of the total equity in a large trade. Its stock ended 2.8 percent higher.Samvardhana Motherson International Ltd | Shares of Samvardhana Motherson International fell to a 52-week low after 14.6 crore shares or 4.6 percent of the total equity exchanged hands in multiple block trades. The value of the deals is said to be worth Rs 952 crore and they were executed at an average price of Rs 65 per share. Its stock ended 7.7 percent down Rs 63.85 apiece.Alembic Pharmaceuticals Ltd | Shares of pharmaceutical company Alembic Pharma declined over 1 percent as the company notified that the United States Food and Drug Administration (USFDA) has conducted an inspection at its Oncology Injectable Formulation Facility located at Panelav from 4, October 2022 to 14, October 2022. Its stock ended 1.5 percent lower.ACC Ltd | ACC shares traded in the red on Tuesday, a day after the cement maker reported its financial results for the July to September quarter that fell short of estimates due to cost pressure. Its stock ended 2.2 percent down.Polycab India Ltd | Polycab, a Mumbai-based manufacturer of fast moving electrical goods, said it remains committed to achieving sales of Rs 20,000 crore by the year ending March 2026. Its FMEG business contracted 12 percent to Rs 303.2 crore on account of a subdued demand environment, according to a statement. Its stock ended 5 percent higher.
