Gainers & Losers: India Cements, Panacea Biotec among 6 stocks in news today

Benchmark indices witnessed selling pressure for the third consecutive day on Tuesday amid weak global cues. Nifty ended with a cut of 257 points at 16,983, while Sensex cracked 844 points to 57,147. Broader markets also underperformed the headline indices, with Nifty Midcap 100 falling 1.74%. Sectorally, Nifty Realty was the top laggard, followed by Nifty Metal and Nifty Media.

Here are 6 stocks that were in the news today:

Shares of IndusInd Bank ended with a cut of 4% at Rs 1,164.6 following the buzz around the bulk deal in the private sector lender. According to reports, about 1.4 per cent of the stake changed hands in seven large block deals.

Shares of Panacea ended 18% higher at Rs 158.25 after the company won a Rs 1,040 crore order for a long-term supply from UNICEF and Pan American Health Organization (PAHO).

Shares of auto ancillaries firm rose 10% intra-day after Cummins made an open offer to buy up to 26% stake in Automotive Axles at Rs 1,504.43/share. The stock, however, pared gains and ended just 0.5% higher at Rs 2015.95.

Shares of TCS ended 1.57% lower at Rs 3069.55 even though the IT major announced better-than-expected results for the September quarter.

​Shares of the power generation and distribution entity ended with a cut of over 2% after the company’s subsidiary sold 3 SPVs to Adani Energy.

India Cements ended with a cut of over 11% at Rs 244.05 after the company sold its entire stake in Springway Mining to JSW Cement.