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Shares of defence companies rose up to 3 percent on Thursday, tracking gains in European defence stocks after US President Donald Trump voiced support for Ukraine’s efforts to reclaim all of its lost territory.

The trigger was Trump’s striking change of tone on Ukraine. Speaking on the sidelines of the United Nations General Assembly in New York, where he met Ukrainian President Volodymyr Zelenskyy, Trump said Kyiv could recapture its original borders with backing from Europe and NATO. This led to sharp rally in many of the defence stocks in Europe, including Saab, Hensoldt, MilDef among others.

Many defence firms in India have existing supply partnerships with European defence companies, making them potential beneficiaries of European rearmament. Moreover, the Indian defence exports have grown rapidly, with Europe emerging as a key destination.

The Nifty Defence index ended a three-session losing streak and rose 1.6 percent. Gains were led by Cochin Shipyard, Mazagon Dock and Garden Reach Shipbuilders &amp; Engineers (GRSE), with 13 of the 18 constituents trading in the green.

Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL) and other defence stocks also advanced. <a href="https://www.moneycontrol.com/india/stockpricequote/aerospacedefence/hindustanaeronautics/HAL">HAL</a> was up more than 1 percent, rebounding after three straight sessions of losses. The stock rose ahead of the Ministry of Defence signing a contract with the company for 97 Tejas Mark-1A fighter jets, valued at around Rs 67,000 crore, according to CNBC-TV-18 report.

Additionally, shipping stocks rallied after the Union Cabinet approved a Rs 69,725 crore package to revive India’s shipbuilding industry. Shares of Shipping Corporation of India, <a href="https://www.moneycontrol.com/india/stockpricequote/ship-building/cochinshipyard/CS">Cochin Shipyard</a>, Mazagon Dock and GRSE climbed up to 4 percent.

The Cabinet, chaired by Prime Minister Narendra Modi, also extended the Shipbuilding Financial Assistance Scheme till March 31, 2036, with a corpus of Rs 24,736 crore. Officials said the measures are aimed at reducing reliance on foreign carriers and strengthening India’s maritime capabilities.

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.

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HAL, BEL, other defence shares rise up to 3% on European boost after Trump’s Ukraine remarks, other triggers

Defence Stocks: HAL, BEL, other defence shares rise up to 3% on European boost after Trump’s Ukraine remarks, other triggers

Shares of defence companies rose up to 3 percent on Thursday, tracking gains in European defence stocks after US President Donald Trump voiced support for Ukraine’s efforts to reclaim all of its lost territory.

The trigger was Trump’s striking change of tone on Ukraine. Speaking on the sidelines of the United Nations General Assembly in New York, where he met Ukrainian President Volodymyr Zelenskyy, Trump said Kyiv could recapture its original borders with backing from Europe and NATO. This led to sharp rally in many of the defence stocks in Europe, including Saab, Hensoldt, MilDef among others.

Many defence firms in India have existing supply partnerships with European defence companies, making them potential beneficiaries of European rearmament. Moreover, the Indian defence exports have grown rapidly, with Europe emerging as a key destination.

The Nifty Defence index ended a three-session losing streak and rose 1.6 percent. Gains were led by Cochin Shipyard, Mazagon Dock and Garden Reach Shipbuilders &amp;amp; Engineers (GRSE), with 13 of the 18 constituents trading in the green.

Hindustan Aeronautics Ltd (HAL), Bharat Electronics Ltd (BEL) and other defence stocks also advanced. HAL was up more than 1 percent, rebounding after three straight sessions of losses. The stock rose ahead of the Ministry of Defence signing a contract with the company for 97 Tejas Mark-1A fighter jets, valued at around Rs 67,000 crore, according to CNBC-TV-18 report.

Additionally, shipping stocks rallied after the Union Cabinet approved a Rs 69,725 crore package to revive India’s shipbuilding industry. Shares of Shipping Corporation of India, Cochin Shipyard, Mazagon Dock and GRSE climbed up to 4 percent.

The Cabinet, chaired by Prime Minister Narendra Modi, also extended the Shipbuilding Financial Assistance Scheme till March 31, 2036, with a corpus of Rs 24,736 crore. Officials said the measures are aimed at reducing reliance on foreign carriers and strengthening India’s maritime capabilities.

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.

Shares of wires and cables manufacturer <a href="https://www.moneycontrol.com/india/stockpricequote/cables-powerothers/polycabindia/PI44">Polycab India</a> fell more than a percent on September 25 following a large block deal which likely saw 21.9 lakh shares change hands, or worth 1.5 percent of equity, more than what was initially reported, with promoter and promoter group family members seen as likely seller.

Moneycontrol had reported on September 24 citing sources that the promoter and promoter group is targetting a block trade to offload a minority stake of around 0.8 percent to raise around $100 million, or Rs 887 crore. The trade data reported by Bloomberg has pegged the block size at nearly Rs 1,695 crore, nearly double of what was previously cited.

Block Trade 

A person familiar with the matter had told <a href="https://www.moneycontrol.com/news/business/markets/polycab-india-promoter-group-launches-block-deal-looks-to-raise-around-100-million-via-small-stake-sale-13575948.html">Moneycontrol</a> that the floor price for the transaction was set at Rs 7,300 per share, which is at a discount of over 3 percent to the previous day's closing price. Another person said investment bank Jefferies is acting as the advisor on the proposed transaction. Moneycontrol also learnt that the promoter group will observe a 90-day lock-up on any further share sale following the block trade.

Polycab India Shareholding 

The company's latest shareholding pattern showed that promoters and promoter group held nearly 63 percent stake in Polycab as on June 30, 2025, with the remaining 37 percent held by public.

Among the promoters, the largest stake was held by company's Managing Director Inder Jaisinghani, with family members Ajay Jaisinghani, Ramesh Jaisinghani and Girdhari Thakurdas Jaisinghani held nearly 10 percent, 9 percent and 8.5 percent stake respectively, in the company.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-25-09-2025-liveblog-13576303.html">Our LIVE blog on stock market updates</a>

Polycab Share Price 

Polycab shares hit an intraday low of Rs 7,431 apiece after opening, and then recovered to trade with marginal losses at Rs 7,510 apiece, as of 10.10 am. The shares of the cable maker have gained more than 6 percent in the past one month, and nearly 46 percent in the past six months. The stock is up over 2 percent in 2025 so far.

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.

Polycab shares fall after large block deal, promoter group likely seller

Shares of wires and cables manufacturer Polycab India fell more than a percent on September 25 following a large block deal which likely saw 21.9 lakh shares change hands, or worth 1.5 percent of equity, more than what was initially reported, with promoter and promoter group family members seen as likely seller.

Moneycontrol had reported on September 24 citing sources that the promoter and promoter group is targetting a block trade to offload a minority stake of around 0.8 percent to raise around $100 million, or Rs 887 crore. The trade data reported by Bloomberg has pegged the block size at nearly Rs 1,695 crore, nearly double of what was previously cited.

Block Trade 

A person familiar with the matter had told Moneycontrol that the floor price for the transaction was set at Rs 7,300 per share, which is at a discount of over 3 percent to the previous day's closing price. Another person said investment bank Jefferies is acting as the advisor on the proposed transaction. Moneycontrol also learnt that the promoter group will observe a 90-day lock-up on any further share sale following the block trade.

Polycab India Shareholding 

The company's latest shareholding pattern showed that promoters and promoter group held nearly 63 percent stake in Polycab as on June 30, 2025, with the remaining 37 percent held by public.

Among the promoters, the largest stake was held by company's Managing Director Inder Jaisinghani, with family members Ajay Jaisinghani, Ramesh Jaisinghani and Girdhari Thakurdas Jaisinghani held nearly 10 percent, 9 percent and 8.5 percent stake respectively, in the company.

Also Read: Our LIVE blog on stock market updates

Polycab Share Price 

Polycab shares hit an intraday low of Rs 7,431 apiece after opening, and then recovered to trade with marginal losses at Rs 7,510 apiece, as of 10.10 am. The shares of the cable maker have gained more than 6 percent in the past one month, and nearly 46 percent in the past six months. The stock is up over 2 percent in 2025 so far.

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.

Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, appointments, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Stocks to Watch

Lupin Ltd: Lupin Limited has received tentative U.S. FDA approval for its generic version of Bictegravir, Emtricitabine, and Tenofovir Alafenamide Tablets 50 mg/200 mg/25 mg, to be manufactured at its Nagpur facility in India. The drug is used to treat HIV in adults and children weighing at least 25 kg.

Polycab India: Promoter entities expected to offload up to 0.81% of the company’s equity through a block deal. Herein, the estimated offer size is Rs 887.6 crore.

Glenmark Pharma: Glenmark Specialty SA, a subsidiary of Glenmark Pharma has entered into an exclusive licensing deal with Hengrui Pharma for a new HER2-targeting cancer drug called Trastuzumab Rezetecan. Under the deal, Glenmark will pay $18 million upfront, plus future payments of up to $1.09 billion and royalties on drug sales.

Newgen Software Technologies: Newgen Software Technologies (UK) Limited, a wholly owned subsidiary of the Newgen Software Technologies has signed a five-year master services agreement with TCS NV, Belgium. The deal includes cloud hosting, software licensing, and implementation services. This is a purely commercial transaction.

AWL Agri Business Ltd: The company signed a two-year MoU with the Solvent Extractors’ Association of India (SEA) and Solidaridad Regional Expertise Centre (SREC) on September 24, 2025, to lead the National Mustard Model Farm Initiative.

Capricorn Systems Global Solutions: The company announced on September 24, 2025, the initiation of a new business line in trading, supply, and distribution of agricultural commodities (rice, wheat, pulses, oilseeds, food products) and other commodities (coal, granite).

SEPC Ltd: It announced it has secured a Rs 75.19 crore purchase order from Gefos Solutions Private Limited for supplying construction materials across four residential infrastructure projects in India. The non-related-party contract, expected to be completed in 8-9 months, bolsters the company's order book amid surging demand for urban housing developments.

Waaree Energies Limited: Domestic solar module manufacturer Waaree Energies Limited has invested Rs 300 crore in its subsidiary Waaree Energy Storage Solutions Private Limited (WESSPL). The investment was made through a rights issue.

Tata Steel: The company has invested Rs 4,054.66 crore in its overseas unit, T Steel Holdings Pte. Ltd. (TSHP), acquiring 457.7 crore shares. TSHP remains a wholly-owned subsidiary of the Tata Group company.

Swan Defence and Heavy Industries Limited (SDHI): ndia's premier shipbuilding and heavy fabrication firm, has inked an exclusive Memorandum of Understanding (MoU) with Dutch offshore oil and gas vessel specialist Royal IHC, alongside Indian representative Alar Infrastructure. The partnership will leverage combined expertise to design, build, and retrofit vessels including offshore construction, pipe-laying, and multi-purpose support types at SDHI's Pipavav Port shipyard in Gujarat.

Indian Hotels: The company announced that it has signed an agreement to open a new Taj hotel in Visakhapatnam, Andhra Pradesh, featuring 310 rooms to expand its luxury footprint.

YES Bank: The Bank has reported that Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has increased its shareholding in the lender. Herein, SMBC has raised its stake by an additional 4.22%.

Bulk Deals

AAA Technologies: NOVA Global Opportunities Fund PCC – Touchstone bought 2.21 lakh shares (1.73%) at Rs 81.49 per share. Seller: Promoter Anjay Ratanlal Agarwal.

Ganesh Infraworld: BNP Paribas Financial Markets bought 2.50 lakh shares at Rs 227.5 per share.

Paradeep Phosphates: Promoter Zuari Maroc Phosphates bought 97.50 lakh shares (1.2%) at Rs 182.06 per share.

Regaal Resources: VPK Global Ventures Fund – Scheme 1 sold 7.00 lakh shares at Rs 96.25 per share.

Kesoram Industries: Axis Bank sold 20.66 lakh shares (0.67%) at Rs 5.96 per share.

Block Deals

Akzo Nobel India: Multiple block deals occurred. Buyers include Nippon India Mutual Fund (8.15 lakh shares, 1.79%), WF Asian Smaller Companies Fund Ltd (5.28 lakh shares, 1.16%), Goldman Sachs Funds – Goldman Sachs India Equity Portfolio (4.50 lakh shares, 0.99%), Aditya Birla Sun Life Mutual Fund (45,986 shares, 0.10%), Bandhan Mutual Fund (29,928 shares). Sell-offs were by Promoter Imperial Chemical Industries Limited (22.77 lakh shares, 5%).

Coffee Day Enterprises: AHIH Resorts and Retreat Private Limited bought 88.28 lakh shares at Rs 44.45 each; CEO Malavika Hegde sold 88.28 lakh shares (4.18%) at Rs 44.45 each.

Mainboard Listing 

Ivalue Infosolutions: The IPO has been fully subscribed, with the retail portion subscribed 1.28 times, the Non-Institutional Investors (NII) portion booked 1.26 times, and Qualified Institutional Buyers (QIBs) portion receiving 3.18 times bids.

SME Listing

JD Cables: The issue size is Rs 95.99 crore (Rs 84.41 crore fresh issue + Rs 11.58 crore offer for sale) with a price band of Rs 144 – Rs 152 per share. It specializes in manufacturing high-quality cables and conductors for the power transmission and distribution sector.

Stocks Trade Ex-Dividend

Adtech Systems Ltd
Evans Electric Ltd

Stocks in F&amp;O ban

HFCL
RBL Bank
Sammaan Capital

Stocks to Watch Today: Glenmark Pharma, Tata Steel, Newgen Software Tech, Regal Resources, Kesoram Industries in focus on 25 September

Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, appointments, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Stocks to Watch

Lupin Ltd: Lupin Limited has received tentative U.S. FDA approval for its generic version of Bictegravir, Emtricitabine, and Tenofovir Alafenamide Tablets 50 mg/200 mg/25 mg, to be manufactured at its Nagpur facility in India. The drug is used to treat HIV in adults and children weighing at least 25 kg.

Polycab India: Promoter entities expected to offload up to 0.81% of the company’s equity through a block deal. Herein, the estimated offer size is Rs 887.6 crore.

Glenmark Pharma: Glenmark Specialty SA, a subsidiary of Glenmark Pharma has entered into an exclusive licensing deal with Hengrui Pharma for a new HER2-targeting cancer drug called Trastuzumab Rezetecan. Under the deal, Glenmark will pay $18 million upfront, plus future payments of up to $1.09 billion and royalties on drug sales.

Newgen Software Technologies: Newgen Software Technologies (UK) Limited, a wholly owned subsidiary of the Newgen Software Technologies has signed a five-year master services agreement with TCS NV, Belgium. The deal includes cloud hosting, software licensing, and implementation services. This is a purely commercial transaction.

AWL Agri Business Ltd: The company signed a two-year MoU with the Solvent Extractors’ Association of India (SEA) and Solidaridad Regional Expertise Centre (SREC) on September 24, 2025, to lead the National Mustard Model Farm Initiative.

Capricorn Systems Global Solutions: The company announced on September 24, 2025, the initiation of a new business line in trading, supply, and distribution of agricultural commodities (rice, wheat, pulses, oilseeds, food products) and other commodities (coal, granite).

SEPC Ltd: It announced it has secured a Rs 75.19 crore purchase order from Gefos Solutions Private Limited for supplying construction materials across four residential infrastructure projects in India. The non-related-party contract, expected to be completed in 8-9 months, bolsters the company's order book amid surging demand for urban housing developments.

Waaree Energies Limited: Domestic solar module manufacturer Waaree Energies Limited has invested Rs 300 crore in its subsidiary Waaree Energy Storage Solutions Private Limited (WESSPL). The investment was made through a rights issue.

Tata Steel: The company has invested Rs 4,054.66 crore in its overseas unit, T Steel Holdings Pte. Ltd. (TSHP), acquiring 457.7 crore shares. TSHP remains a wholly-owned subsidiary of the Tata Group company.

Swan Defence and Heavy Industries Limited (SDHI): ndia's premier shipbuilding and heavy fabrication firm, has inked an exclusive Memorandum of Understanding (MoU) with Dutch offshore oil and gas vessel specialist Royal IHC, alongside Indian representative Alar Infrastructure. The partnership will leverage combined expertise to design, build, and retrofit vessels including offshore construction, pipe-laying, and multi-purpose support types at SDHI's Pipavav Port shipyard in Gujarat.

Indian Hotels: The company announced that it has signed an agreement to open a new Taj hotel in Visakhapatnam, Andhra Pradesh, featuring 310 rooms to expand its luxury footprint.

YES Bank: The Bank has reported that Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has increased its shareholding in the lender. Herein, SMBC has raised its stake by an additional 4.22%.

Bulk Deals

AAA Technologies: NOVA Global Opportunities Fund PCC – Touchstone bought 2.21 lakh shares (1.73%) at Rs 81.49 per share. Seller: Promoter Anjay Ratanlal Agarwal.

Ganesh Infraworld: BNP Paribas Financial Markets bought 2.50 lakh shares at Rs 227.5 per share.

Paradeep Phosphates: Promoter Zuari Maroc Phosphates bought 97.50 lakh shares (1.2%) at Rs 182.06 per share.

Regaal Resources: VPK Global Ventures Fund – Scheme 1 sold 7.00 lakh shares at Rs 96.25 per share.

Kesoram Industries: Axis Bank sold 20.66 lakh shares (0.67%) at Rs 5.96 per share.

Block Deals

Akzo Nobel India: Multiple block deals occurred. Buyers include Nippon India Mutual Fund (8.15 lakh shares, 1.79%), WF Asian Smaller Companies Fund Ltd (5.28 lakh shares, 1.16%), Goldman Sachs Funds – Goldman Sachs India Equity Portfolio (4.50 lakh shares, 0.99%), Aditya Birla Sun Life Mutual Fund (45,986 shares, 0.10%), Bandhan Mutual Fund (29,928 shares). Sell-offs were by Promoter Imperial Chemical Industries Limited (22.77 lakh shares, 5%).

Coffee Day Enterprises: AHIH Resorts and Retreat Private Limited bought 88.28 lakh shares at Rs 44.45 each; CEO Malavika Hegde sold 88.28 lakh shares (4.18%) at Rs 44.45 each.

Mainboard Listing 

Ivalue Infosolutions: The IPO has been fully subscribed, with the retail portion subscribed 1.28 times, the Non-Institutional Investors (NII) portion booked 1.26 times, and Qualified Institutional Buyers (QIBs) portion receiving 3.18 times bids.

SME Listing

JD Cables: The issue size is Rs 95.99 crore (Rs 84.41 crore fresh issue + Rs 11.58 crore offer for sale) with a price band of Rs 144 – Rs 152 per share. It specializes in manufacturing high-quality cables and conductors for the power transmission and distribution sector.

Stocks Trade Ex-Dividend

Adtech Systems Ltd
Evans Electric Ltd

Stocks in F&amp;amp;O ban

HFCL
RBL Bank
Sammaan Capital

Shares of home appliances and cookware company Bajaj Electricals are higher by over 7 percent on acquiring the intellectual property rights of the Morphy Richards brand for India and neighbouring markets from Glen Electric for Rs 146 crore.

The brand rights of Morphy Richards - part of Irish international electrical appliances group Glen Dimplex - will be valid for India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka.

"The Board of Directors of the company, at its meeting held on September 23, 2025 has given its consent to a proposal for the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights... from Glen Electric Limited (part of the Glen Dimplex Group, Ireland), the owner of the MR Brand/Business IP, for a consideration of Rs 146 crore," the company said. This deal is exclusive of any taxes or duties payable in the territory for the transaction and will be subject definitive agreements between the parties and regulatory approvals.

<a href="https://www.moneycontrol.com/india/stockpricequote/domestic-appliances/bajajelectricals/BE">Bajaj Electricals</a> sells premium range of kitchen appliances and has a presence in the female grooming segment with products such as hair straightener, hair dryer, etc. The appliances company has a mix of legacy and new-age brands including Nex, Morphy Richards and Nirlep, and is targetting consumer preferences across design and price segments.

The products from Morphy Richards had recorded strong growth in FY25, supported by broad-based channel growth across e-commerce and modern format retail. "The Consumer Products business registered revenue growth of 5.6 percent on the back of good demand for Morphy Richards brand and domestic appliances such as air coolers," Bajaj Electricals said in the annual report. During the last fiscal, the Morphy Richards business registered a robust 24 percent growth with 'consistent positive performance' in both offline and online channels.

The consumer appliances major is pitching Morphy Richards to drive growth through 'expansion and greater market penetration', focusing on premium and lifestyle appliances targetting the lifestyle-driven consumers.

The company has chalked out a plan to predominantly invest on new product development, and had approved a budget of about around Rs 140 crore in March 2025, along with plans for a new factory. In the short term, Bajaj Electricals said it has lined up 'continued investment' in new product launches in an 'ever-changing market'.

"Bajaj Electricals is enhancing its go-to-market strategy by focusing on high-growth channels like e-commerce, including quick commerce and modern trade, while also solidifying its traditional trade channels," the company said in its annual report.

During the June quarter, the company saw 'unexpected disruptions' following a premature onset of monsoon, which had cut the summer short and impacted the consumer demand.

Bajaj Electricals shares rally 7 percent on acquiring Morphy Richards' brand rights in India for Rs 146 crore

Shares of home appliances and cookware company Bajaj Electricals are higher by over 7 percent on acquiring the intellectual property rights of the Morphy Richards brand for India and neighbouring markets from Glen Electric for Rs 146 crore.

The brand rights of Morphy Richards - part of Irish international electrical appliances group Glen Dimplex - will be valid for India, Nepal, Bhutan, Bangladesh, the Maldives and Sri Lanka.

&quot;The Board of Directors of the company, at its meeting held on September 23, 2025 has given its consent to a proposal for the acquisition of the ‘Morphy Richards’ brand and related intellectual property rights... from Glen Electric Limited (part of the Glen Dimplex Group, Ireland), the owner of the MR Brand/Business IP, for a consideration of Rs 146 crore,&quot; the company said. This deal is exclusive of any taxes or duties payable in the territory for the transaction and will be subject definitive agreements between the parties and regulatory approvals.

Bajaj Electricals sells premium range of kitchen appliances and has a presence in the female grooming segment with products such as hair straightener, hair dryer, etc. The appliances company has a mix of legacy and new-age brands including Nex, Morphy Richards and Nirlep, and is targetting consumer preferences across design and price segments.

The products from Morphy Richards had recorded strong growth in FY25, supported by broad-based channel growth across e-commerce and modern format retail. &quot;The Consumer Products business registered revenue growth of 5.6 percent on the back of good demand for Morphy Richards brand and domestic appliances such as air coolers,&quot; Bajaj Electricals said in the annual report. During the last fiscal, the Morphy Richards business registered a robust 24 percent growth with 'consistent positive performance' in both offline and online channels.

The consumer appliances major is pitching Morphy Richards to drive growth through 'expansion and greater market penetration', focusing on premium and lifestyle appliances targetting the lifestyle-driven consumers.

The company has chalked out a plan to predominantly invest on new product development, and had approved a budget of about around Rs 140 crore in March 2025, along with plans for a new factory. In the short term, Bajaj Electricals said it has lined up 'continued investment' in new product launches in an 'ever-changing market'.

&quot;Bajaj Electricals is enhancing its go-to-market strategy by focusing on high-growth channels like e-commerce, including quick commerce and modern trade, while also solidifying its traditional trade channels,&quot; the company said in its annual report.

During the June quarter, the company saw 'unexpected disruptions' following a premature onset of monsoon, which had cut the summer short and impacted the consumer demand.

The shares of Indian PSU banks jumped in trade on September 24, pushing the Nifty PSU Bank higher up to emerge as one of the top sectoral gainers. This comes after a report said that the Indian government is considering to increase the foreign investment limit in these banks.

The <a href="https://www.moneycontrol.com/indian-indices/nifty-psu-bank-43.html">Nifty PSU Bank</a> index was up around half a percent, as seen at 11 am, bucking the overall downtrend in the market today. Earlier during the day, the index had risen around 1.6 percent to 7,567.

Top PSU bank gainers:

<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/indianbank/IB04">Indian Bank</a> shares were the top gainers, rising nearly 3 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/canarabank/CB06">Canara Bank</a> shares were up nearly 2 percent.

Indian Overseas Bank (IOB), <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/bankbaroda/BOB">Bank of Baroda</a> (BoB) and Bank of India shares were up nearly 1 percent, while Punjab &amp; Sindh Bank (PSB), Central Bank of India, UCO Bank and State Bank of India (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/statebankindia/SBI">SBI</a>) shares were trading in the green with marginal gains.

Dodging the trend, Union Bank of India, Punjab National Bank (<a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/punjabnationalbank/PNB05">PNB</a>) and Bank of Maharashtra shares were trading in the red.

Govt considering to increase foreign investment limit in PSU banks: Report

The Indian government is considering to increase the foreign investment limit in public sector banks (PSBs) from the current 20 percent, the Economic Times reported citing people familiar with the matter. This comes as the Centre aims to transform these PSBs into institutions that can raise capital easily, the report added.

The government however doesn't plan to reduce its stake below the 51 percent mark, ensuring the 'public' character of these banks remains intact, the report further said, citing a senior government official. It added that the government is examining how the shareholding and voting structure of PSBs can be relaxed without compromising their essential character and decision-making capabilities of their respective boards.

Moneycontrol couldn't independently verify the report.

Govt's stake divestment plans in 5 PSU banks:

The government is progressing with its stake divestment plans through the Offer for Sale (OFS) route in five PSU banks. Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India and Punjab and Sind Bank have been shortlisted for partial disinvestment in the coming months.

Earlier this month, M Nagaraju, Secretary (FS), Ministry of Finance, said that <a href="https://www.moneycontrol.com/news/business/no-proposal-to-cut-govt-stake-below-51-to-remain-majority-shareholder-says-m-nagaraju-secretary-fs-13551598.html">most banks are very healthy now</a>, posting record profits last financial year and having a low non-performing assets (NPA) ratios. Nagaraju is hopeful that PSU banks will report a record profit in the current financial year too.

“There is no proposal to cut government stakes in PSU banks below 51%. We want to be the majority shareholder,” Nagaraju said at CNBC TV18's Banking Transformation Summit 3rd edition.

India considering to increase foreign holdings in PSU banks, says report; stocks surge up to 3%

The shares of Indian PSU banks jumped in trade on September 24, pushing the Nifty PSU Bank higher up to emerge as one of the top sectoral gainers. This comes after a report said that the Indian government is considering to increase the foreign investment limit in these banks.

The Nifty PSU Bank index was up around half a percent, as seen at 11 am, bucking the overall downtrend in the market today. Earlier during the day, the index had risen around 1.6 percent to 7,567.

Top PSU bank gainers:

Indian Bank shares were the top gainers, rising nearly 3 percent, while Canara Bank shares were up nearly 2 percent.

Indian Overseas Bank (IOB), Bank of Baroda (BoB) and Bank of India shares were up nearly 1 percent, while Punjab &amp;amp; Sindh Bank (PSB), Central Bank of India, UCO Bank and State Bank of India (SBI) shares were trading in the green with marginal gains.

Dodging the trend, Union Bank of India, Punjab National Bank (PNB) and Bank of Maharashtra shares were trading in the red.

Govt considering to increase foreign investment limit in PSU banks: Report

The Indian government is considering to increase the foreign investment limit in public sector banks (PSBs) from the current 20 percent, the Economic Times reported citing people familiar with the matter. This comes as the Centre aims to transform these PSBs into institutions that can raise capital easily, the report added.

The government however doesn't plan to reduce its stake below the 51 percent mark, ensuring the 'public' character of these banks remains intact, the report further said, citing a senior government official. It added that the government is examining how the shareholding and voting structure of PSBs can be relaxed without compromising their essential character and decision-making capabilities of their respective boards.

Moneycontrol couldn't independently verify the report.

Govt's stake divestment plans in 5 PSU banks:

The government is progressing with its stake divestment plans through the Offer for Sale (OFS) route in five PSU banks. Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India and Punjab and Sind Bank have been shortlisted for partial disinvestment in the coming months.

Earlier this month, M Nagaraju, Secretary (FS), Ministry of Finance, said that most banks are very healthy now, posting record profits last financial year and having a low non-performing assets (NPA) ratios. Nagaraju is hopeful that PSU banks will report a record profit in the current financial year too.

“There is no proposal to cut government stakes in PSU banks below 51%. We want to be the majority shareholder,” Nagaraju said at CNBC TV18's Banking Transformation Summit 3rd edition.

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