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Ashok Leyland

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The shares of several public sector banks (PSB) rose on September 11, pushing the Nifty PSU Bank index higher into the green in the afternoon. This comes as reports on further consolidation of these lenders boosted investor sentiment.

The <a href="https://www.moneycontrol.com/indian-indices/nifty-psu-bank-43.html">Nifty PSU Bank</a> index rose nearly 1 percent to 7,089, extending gains for the second consecutive session.

The government is expected to revisit the consolidation plans of these PSBs in an effort to create larger and more globally competitive lenders, The Economic Times reported on September 10, citing sources. The issue will be taken up at the upcoming <a href="https://www.moneycontrol.com/news/business/india-mulls-creating-3-4-mega-state-run-banks-in-next-consolidation-round-report-13534621.html">PSB Manthan</a> which is scheduled to begin tomorrow, it added.

The last major round of restructuring in 2019-2020 had brought down the number of state-run lenders from 27 to 12. A senior official told ET that while there is a recognized need for Indian banks to scale up globally, any new round of consolidation will depend on synergies and consultations with the lenders themselves. The aim would be to form at least three to four very large banks, it added.

ET further reported that the two-day summit will also include discussions between PSBs and key infrastructure financing entities such as the National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company (IIFCL).

Moneycontrol couldn't independently verify the report.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">Punjab National Bank</a> (PNB) and Canara Bank shares were the top gainers on the index, rising nearly 2 percent each. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/ucobank/UCO">UCO Bank</a>, Punjab &amp; Sind Bank (PSB), <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankmaharashtra/BM05">Bank of Maharashtra</a> and Bank of India shares rose more than 1 percent each.

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/unionbankindia/UBI01">Union Bank of India</a>, Central Bank of India and <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">State Bank of India</a> (SBI) shares rose nearly 1 percent each, while Indian Bank, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankbaroda/BOB">Bank of Baroda</a> and Indian Overseas Bank shares were hovering in the green with marginal gains.

As of the June quarter, four public sector banks, which are UCO Bank, Indian Overseas Bank, Punjab &amp; Sind Bank, and Central Bank of India, had government shareholding levels exceeding 90 percent.

In 2019, the government initiated a large-scale consolidation drive in the PSU banking space, merging 10 public sector lenders into four larger entities.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-11-09-2025-liveblog-13537359.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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PSU bank stocks gain for 2nd day on consolidation buzz; PNB, Canara Bank, others rise up to 2%

The shares of several public sector banks (PSB) rose on September 11, pushing the Nifty PSU Bank index higher into the green in the afternoon. This comes as reports on further consolidation of these lenders boosted investor sentiment.

The Nifty PSU Bank index rose nearly 1 percent to 7,089, extending gains for the second consecutive session.

The government is expected to revisit the consolidation plans of these PSBs in an effort to create larger and more globally competitive lenders, The Economic Times reported on September 10, citing sources. The issue will be taken up at the upcoming PSB Manthan which is scheduled to begin tomorrow, it added.

The last major round of restructuring in 2019-2020 had brought down the number of state-run lenders from 27 to 12. A senior official told ET that while there is a recognized need for Indian banks to scale up globally, any new round of consolidation will depend on synergies and consultations with the lenders themselves. The aim would be to form at least three to four very large banks, it added.

ET further reported that the two-day summit will also include discussions between PSBs and key infrastructure financing entities such as the National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company (IIFCL).

Moneycontrol couldn't independently verify the report.

Punjab National Bank (PNB) and Canara Bank shares were the top gainers on the index, rising nearly 2 percent each. UCO Bank, Punjab &amp;amp; Sind Bank (PSB), Bank of Maharashtra and Bank of India shares rose more than 1 percent each.

Union Bank of India, Central Bank of India and State Bank of India (SBI) shares rose nearly 1 percent each, while Indian Bank, Bank of Baroda and Indian Overseas Bank shares were hovering in the green with marginal gains.

As of the June quarter, four public sector banks, which are UCO Bank, Indian Overseas Bank, Punjab &amp;amp; Sind Bank, and Central Bank of India, had government shareholding levels exceeding 90 percent.

In 2019, the government initiated a large-scale consolidation drive in the PSU banking space, merging 10 public sector lenders into four larger entities.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of several export-oriented shrimp feed and textile companies dropped in trade on September 11 (Thursday). This comes as investors may have resorted to profit booking, a day after the stocks recorded massive gains.

The stocks had seen significant surge on September 10 (Wednesday) after US President Donald Trump said <a href="https://www.moneycontrol.com/news/india/look-forward-to-speaking-to-pm-modi-trump-says-ready-to-resume-trade-talks-with-india-13533800.html">Washington and New Delhi will resume negotiations</a> to resolve the ongoing trade frictions.

<a href="https://www.moneycontrol.com/india/stockpricequote/food-processing/apexfrozenfoods/AFF">Apex Frozen Foods</a> shares dropped over 4 percent to trade at Rs 246.28 apiece in the morning, while those of <a href="https://www.moneycontrol.com/india/stockpricequote/aquaculture/avantifeeds/AF21">Avanti Feeds</a> plunged 4 percent to trade at Rs 728.60 apiece. The two stocks had rallied 17 percent and 15 percent respectively yesterday.

Among the textile stocks, <a href="https://www.moneycontrol.com/india/stockpricequote/textilesapparel/welspunliving/WI03">Welspun Living</a> shares dropped over 2 percent to trade at Rs 122.50 apiece. <a href="https://www.moneycontrol.com/india/stockpricequote/textilesapparel/raymondlifestyle/RLL01">Raymond Lifestyle</a> shares meanwhile fell nearly 2 percent to trade at Rs 1,286 apiece. The stocks had jumped 10 percent and 2 percent respectively the previous day.

In a social media post on Truth Social, Trump announced, "I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations."

"I look forward to speaking with my very good friend, Prime Minister Narendra Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!" he further wrote.

The shares of these export-oriented companies had significantly declined earlier after the Trump administration increased tariffs on Indian imports to a whopping 50 percent, citing New Delhi's continued purchase of Russian oil. However, Trump's latest comment may have boosted investor sentiment on the possibility of the two countries concluding their long-awaited tariff deal.

Additionally, the US Supreme Court has agreed to decide the legality of Donald Trump's sweeping global tariffs. This comes after a lower court ruled that Trump’s tariffs were illegal.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-11-09-2025-liveblog-13537359.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Avanti Feeds, Welspun Living, other shrimp & textile stocks drop up to 4% after sharp gains on India-US trade talks hopes

The shares of several export-oriented shrimp feed and textile companies dropped in trade on September 11 (Thursday). This comes as investors may have resorted to profit booking, a day after the stocks recorded massive gains.

The stocks had seen significant surge on September 10 (Wednesday) after US President Donald Trump said Washington and New Delhi will resume negotiations to resolve the ongoing trade frictions.

Apex Frozen Foods shares dropped over 4 percent to trade at Rs 246.28 apiece in the morning, while those of Avanti Feeds plunged 4 percent to trade at Rs 728.60 apiece. The two stocks had rallied 17 percent and 15 percent respectively yesterday.

Among the textile stocks, Welspun Living shares dropped over 2 percent to trade at Rs 122.50 apiece. Raymond Lifestyle shares meanwhile fell nearly 2 percent to trade at Rs 1,286 apiece. The stocks had jumped 10 percent and 2 percent respectively the previous day.

In a social media post on Truth Social, Trump announced, &quot;I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations.&quot;

&quot;I look forward to speaking with my very good friend, Prime Minister Narendra Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!&quot; he further wrote.

The shares of these export-oriented companies had significantly declined earlier after the Trump administration increased tariffs on Indian imports to a whopping 50 percent, citing New Delhi's continued purchase of Russian oil. However, Trump's latest comment may have boosted investor sentiment on the possibility of the two countries concluding their long-awaited tariff deal.

Additionally, the US Supreme Court has agreed to decide the legality of Donald Trump's sweeping global tariffs. This comes after a lower court ruled that Trump’s tariffs were illegal.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Avanti Feeds, Welspun Living, other shrimp &amp; textile stocks drop up to 4% after sharp gains on India-US trade talks hopes

IT shares came under selling pressure on Thursday after a sharp two-day rise, with investors booking profits ahead of key US inflation data.

After gaining up to 5.5 percent in the past two sessions on hopes of a US Federal Reserve rate cut, the Nifty IT index slipped nearly 1 percent, making it one of the top sectoral losers. Nine out of 10 constituents traded in the red.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/persistentsystems/PS15">Persistent Systems</a> led the fall, declining up to 2 percent to Rs 5,326 apiece on the NSE.

<a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> dropped 1.38 percent as investors tracked for updates from the board of IT major which convenes today to consider a proposal for share buyback, which will be the first one in three years, and fifth in last eight years.

<a href="https://www.moneycontrol.com/news/business/markets/decision-on-infosys-buyback-closely-watched-as-board-considers-first-proposal-in-three-years-13538243.html" target="_blank">Decision on Infosys buyback closely watched as board considers first proposal in three years</a>

LTIMindtree shed 1.66 percent. Wipro, HCL Technologies, Tech Mahindra and Mphasis also traded lower, slipping up to 1.3 percent. Tata Consultancy Services was the sole gainer, edging up 0.14 percent.

The <a href="https://www.moneycontrol.com/news/business/markets/it-stocks-rally-for-2nd-day-ofss-wipro-others-rise-up-to-8-on-hopes-over-us-trade-talks-fed-rate-cuts-13534826.html" target="_blank">recent rally in IT shares was fuelled by expectations of a Fed rate cut </a>and easing trade concerns after US President Donald Trump said Washington and New Delhi would resume talks to resolve trade differences. Indian IT firms derive a significant share of their revenue from the US market.

However, sentiment turned cautious as investors awaited US consumer price index (CPI) data, due later in the day, following weaker-than-expected producer price numbers.

A Reuters poll projected CPI to rise 0.3 percent month-on-month in August, after a 0.2 percent increase in July. On a year-on-year basis, CPI was seen at 2.9 percent versus 2.7 percent in July.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

IT stocks see profit booking after 5.5% rise in two days as investors await US CPI data; Infosys, Wipro lead losses

IT shares came under selling pressure on Thursday after a sharp two-day rise, with investors booking profits ahead of key US inflation data.

After gaining up to 5.5 percent in the past two sessions on hopes of a US Federal Reserve rate cut, the Nifty IT index slipped nearly 1 percent, making it one of the top sectoral losers. Nine out of 10 constituents traded in the red.

Persistent Systems led the fall, declining up to 2 percent to Rs 5,326 apiece on the NSE.

Infosys dropped 1.38 percent as investors tracked for updates from the board of IT major which convenes today to consider a proposal for share buyback, which will be the first one in three years, and fifth in last eight years.

Decision on Infosys buyback closely watched as board considers first proposal in three years

LTIMindtree shed 1.66 percent. Wipro, HCL Technologies, Tech Mahindra and Mphasis also traded lower, slipping up to 1.3 percent. Tata Consultancy Services was the sole gainer, edging up 0.14 percent.

The recent rally in IT shares was fuelled by expectations of a Fed rate cut and easing trade concerns after US President Donald Trump said Washington and New Delhi would resume talks to resolve trade differences. Indian IT firms derive a significant share of their revenue from the US market.

However, sentiment turned cautious as investors awaited US consumer price index (CPI) data, due later in the day, following weaker-than-expected producer price numbers.

A Reuters poll projected CPI to rise 0.3 percent month-on-month in August, after a 0.2 percent increase in July. On a year-on-year basis, CPI was seen at 2.9 percent versus 2.7 percent in July.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

The shares of Patanjali Foods appeared to have fallen nearly 67 percent in one single session on September 11, as the stock price adjusted to a bonus issue of shares. The stock was actually trading in the red with marginal losses at Rs 596 apiece.

<a href="https://www.moneycontrol.com/india/stockpricequote/vegetable-oilsproducts/patanjalifoods/RSI">Patanjali Foods</a>' board of directors during a meeting in July had approved the issue of bonus shares in the ratio of 2:1. The record date to determine the eligibility of the shareholders set to receive the bonus equity shares was set on September 11.

A company announces bonus issue of shares to reward its existing shareholders with an investment opportunity, which is perceived to be attractive. While the issue of bonus shares increases the total number of shares issued and owned, it does not change the market capitalization of the company. This increases the overall liquidity of the stock, and makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.

As a result, Patanjali Foods shares appeared to have crashed 67 percent in one session, while in reality, they simply adjusted to the bonus issue. After the issuance of bonus shares, the company's market capitalization stands at around Rs 64,856 crore and the stock's P/E ratio nears 18.

The issuance of bonus shares will likely increase investors' confidence for the stock, as it reflects on the firm's strong financials and growth potential. Bonus issue essentially are free shares offered by a company from its reserves. Investors must own shares of the company as on the record date to be eligible for the bonus issue.

Also read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-11-09-2025-liveblog-13537359.html">Our LIVE blog on stock market updates</a>

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Patanjali Foods shares adjust to 2:1 bonus issue: Here's why you should ignore the 67% plunge

The shares of Patanjali Foods appeared to have fallen nearly 67 percent in one single session on September 11, as the stock price adjusted to a bonus issue of shares. The stock was actually trading in the red with marginal losses at Rs 596 apiece.

Patanjali Foods' board of directors during a meeting in July had approved the issue of bonus shares in the ratio of 2:1. The record date to determine the eligibility of the shareholders set to receive the bonus equity shares was set on September 11.

A company announces bonus issue of shares to reward its existing shareholders with an investment opportunity, which is perceived to be attractive. While the issue of bonus shares increases the total number of shares issued and owned, it does not change the market capitalization of the company. This increases the overall liquidity of the stock, and makes it more affordable for other investors to add to their portfolio, creating strong upside potential for the stock.

As a result, Patanjali Foods shares appeared to have crashed 67 percent in one session, while in reality, they simply adjusted to the bonus issue. After the issuance of bonus shares, the company's market capitalization stands at around Rs 64,856 crore and the stock's P/E ratio nears 18.

The issuance of bonus shares will likely increase investors' confidence for the stock, as it reflects on the firm's strong financials and growth potential. Bonus issue essentially are free shares offered by a company from its reserves. Investors must own shares of the company as on the record date to be eligible for the bonus issue.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

<a href="https://www.moneycontrol.com/india/stockpricequote/engineering/jupiterwagons/CEB">Jupitar Wagons</a> share price rose more than 6 percent in the opening trade on September 11 following the company received bogies supply order of approximately Rs 113 crore.

At 09:18am, Jupiter Wagons was quoting at Rs 340.30, up Rs 21.10, or 6.61 percent, on the BSE.

The company's subsidiary, Jupiter Tatravagonka Railwheel Factory has received a Letter of Acceptance (LOA) from Ministry of Railways, Railway Board.

This order is for supply of total 9,000 LHB Axlesfor FIAT-IR Bogies, with an aggregate order value of approximately Rs 113 crore.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-flat-opening-us-markets-mixed-liveblog-13537359.html">Catch all the market action on our live blog</a>

In the month of August, the said subsidiary secured an order worth Rs 215 crore for the supply of wheelsets for the Vande Bharat train project. The Letter of Intent (LOI) covers the supply of 5,376 wheelsets, comprising 2,688 motor wheelsets and 2,688 trailer wheelsets.

The company had reported 63 percent fall in its Q1FY26 net profit at Rs 32.86 crore versus Rs 89.23 crore, YoY.

The share price slipped 16 percent in the last 3 months.

The share touched a 52-week high of Rs 588 and a 52-week low of Rs 270.20 on 12 December, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 42.13 percent below its 52-week high and 25.94 percent above its 52-week low.

The market capitalisation of the company stands at Rs 14,445.67 crore.

Jupitar Wagons shares rise 6% on order win worth Rs 113 crore

Jupitar Wagons share price rose more than 6 percent in the opening trade on September 11 following the company received bogies supply order of approximately Rs 113 crore.

At 09:18am, Jupiter Wagons was quoting at Rs 340.30, up Rs 21.10, or 6.61 percent, on the BSE.

The company's subsidiary, Jupiter Tatravagonka Railwheel Factory has received a Letter of Acceptance (LOA) from Ministry of Railways, Railway Board.

This order is for supply of total 9,000 LHB Axlesfor FIAT-IR Bogies, with an aggregate order value of approximately Rs 113 crore.

Catch all the market action on our live blog

In the month of August, the said subsidiary secured an order worth Rs 215 crore for the supply of wheelsets for the Vande Bharat train project. The Letter of Intent (LOI) covers the supply of 5,376 wheelsets, comprising 2,688 motor wheelsets and 2,688 trailer wheelsets.

The company had reported 63 percent fall in its Q1FY26 net profit at Rs 32.86 crore versus Rs 89.23 crore, YoY.

The share price slipped 16 percent in the last 3 months.

The share touched a 52-week high of Rs 588 and a 52-week low of Rs 270.20 on 12 December, 2024 and 03 March, 2025, respectively.

Currently, the stock is trading 42.13 percent below its 52-week high and 25.94 percent above its 52-week low.

The market capitalisation of the company stands at Rs 14,445.67 crore.

Automobile - Trucks/LCVs Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Automobile - Trucks/LCVs industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q1 FY25-26

Stock News

PSU bank stocks gain for 2nd day on consolidation buzz; PNB, Canara Bank, others rise up to 2%

Avanti Feeds, Welspun Living, other shrimp & textile stocks drop up to 4% after sharp gains on India-US trade talks hopes

IT stocks see profit booking after 5.5% rise in two days as investors await US CPI data; Infosys, Wipro lead losses

Patanjali Foods shares adjust to 2:1 bonus issue: Here's why you should ignore the 67% plunge

Jupitar Wagons shares rise 6% on order win worth Rs 113 crore

Automobile - Trucks/LCVs Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Automobile - Trucks/LCVs industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q1 FY25-26

Stock News

PSU bank stocks gain for 2nd day on consolidation buzz; PNB, Canara Bank, others rise up to 2%

Avanti Feeds, Welspun Living, other shrimp &amp; textile stocks drop up to 4% after sharp gains on India-US trade talks hopes

IT stocks see profit booking after 5.5% rise in two days as investors await US CPI data; Infosys, Wipro lead losses

Patanjali Foods shares adjust to 2:1 bonus issue: Here's why you should ignore the 67% plunge

Jupitar Wagons shares rise 6% on order win worth Rs 113 crore

Automobile - Trucks/LCVs Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Automobile - Trucks/LCVs industry stocks.

Avanti Feeds, Welspun Living, other shrimp & textile stocks drop up to 4% after sharp gains on India-US trade talks hopes