Eicher Motors, Ambuja Cement, ACC and more: Key stocks that moved most on May 16

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ACC Ltd and Ambuja Cements Ltd | Stocks of the cement companies opened higher following Adani's announcement on Sunday of acquiring Holcim's stake in the firms. ACC and Ambuja's stocks closed 3.7 percent and 2.36 percent higher, respectively, on the BSE.

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Cement stocks | Shares of most cement stocks ended in the green, except for UltraTech and Shree Cement, which were the top Nifty50 losers, down 3 percent and 2.5 percent, respectively. This upswing in cement stocks came after the Adani-Holcim deal. Stocks of India Cements, Dalmia Bharat,  Birla Corporation, Heidelberg Cement, closed 0.7 to over 6 percent higher on the BSE.

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Eicher Motors | The top gainer on Nifty50, the shares of Eicher Motors ended 7.95 percent higher.

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Bharat Forge | Shares of Bharat Forge closed nearly 5.4 percent higher, following its Q4 earnings reports, which were in-line with Street estimates.

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Nifty PSU Bank | Among the sectoral indices, Nifty PSU Bank increased the most, up by 2.9 percent. Shares of Bank of Baroda, SBI, Indian Bank, IOB, UCO Bank, Union Bank closed over 1 to 6 percent higher.

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Elgi Equipment | Shares of Elgi Equipment closed 19.8percent higher after reporting decent set of earnings in the quarter ending March. The compressor business’ performance in the domestic exceeded plan owing to strong demand and go-to-market initiatives. Barring Middle East, Africa, and Australia and South East Asian Countries that were affected by COVID-19 lockdowns, other geographies registered satisfactory sales and market share growth, the company said. The automotive business overcame COVID restrictions, supply challenges, and volatility in the segment to register sales and profitability ahead of our plans, it added.