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HDFC Mutual Fund continued to be seller in Bajel Projects, the power transmission and distribution infrastructure services provider, for the second consecutive session, offloading 1.9 percent via open market transactions on September 11.

The stock corrected 0.83 percent to close at Rs 193.36 amid high volumes, extending downtrend for sixth consecutive session and trading below all key moving averages. Overall it has been under pressure since July, falling nearly 27 percent from July swing high of Rs 263.9.

HDFC Mutual Fund sold 9,46,288 equity shares in <a href="https://www.moneycontrol.com/india/stockpricequote/engineering-construction/bajelprojects/BP06">Bajel Projects</a>, which was earlier a part of Bajaj Electricals, at Rs 195.25 per share, and 12.5 lakh shares at Rs 195.14 per share.

The total 21,96,288 shares (equivalent to 1.9 percent) sold in the open market by the mutual fund house were worth Rs 42.86 crore.

In the previous session, HDFC Mutual Fund had offloaded 18,93,098 shares (1.63 percent stake) valued at Rs 36.9 crore percent, taking the total stake to 3.53 percent sold by the AMC in the company in last two consecutive sessions.

HDFC Asset Management Company through its Small Cap Fund held 58,31,624 shares (5.04 percent stake) in Bajel Projects as of June 2025.

The profitability of the company was impacted in quarter ended June 2025 partly due to lower other income and higher finance cost. Profit fell by 46.5 percent to Rs 2.95 crore in Q1FY26, down from Rs 5.5 crore in the same period last year.

Revenue increased by 18.7 percent year-on-year to Rs 607.6 crore in the same period. On the operating front, EBITDA surged 133.2 percent to Rs 16.55 crore, increasing from Rs 7.1 crore, with margin expanding by 134 bps to 2.72 percent in Q1FY26.

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HDFC Mutual Fund remains seller in Bajel Projects for second day, offloads 1.9% stake

HDFC Mutual Fund continued to be seller in Bajel Projects, the power transmission and distribution infrastructure services provider, for the second consecutive session, offloading 1.9 percent via open market transactions on September 11.

The stock corrected 0.83 percent to close at Rs 193.36 amid high volumes, extending downtrend for sixth consecutive session and trading below all key moving averages. Overall it has been under pressure since July, falling nearly 27 percent from July swing high of Rs 263.9.

HDFC Mutual Fund sold 9,46,288 equity shares in Bajel Projects, which was earlier a part of Bajaj Electricals, at Rs 195.25 per share, and 12.5 lakh shares at Rs 195.14 per share.

The total 21,96,288 shares (equivalent to 1.9 percent) sold in the open market by the mutual fund house were worth Rs 42.86 crore.

In the previous session, HDFC Mutual Fund had offloaded 18,93,098 shares (1.63 percent stake) valued at Rs 36.9 crore percent, taking the total stake to 3.53 percent sold by the AMC in the company in last two consecutive sessions.

HDFC Asset Management Company through its Small Cap Fund held 58,31,624 shares (5.04 percent stake) in Bajel Projects as of June 2025.

The profitability of the company was impacted in quarter ended June 2025 partly due to lower other income and higher finance cost. Profit fell by 46.5 percent to Rs 2.95 crore in Q1FY26, down from Rs 5.5 crore in the same period last year.

Revenue increased by 18.7 percent year-on-year to Rs 607.6 crore in the same period. On the operating front, EBITDA surged 133.2 percent to Rs 16.55 crore, increasing from Rs 7.1 crore, with margin expanding by 134 bps to 2.72 percent in Q1FY26.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/chemicals/gujaratfluorochemicalslimited/GUJAR54281">Gujarat Fluorochemicals</a> dropped nearly 5 percent intraday on September 11 after the company announced that a gas leak at its plant in Gujarat's Ranjitnagar has caused one death and few injuries. The firm said it is working to restart operations at the plant.

In an exchange filing, Gujarat Fluorochemicals said a minor rupture at one of the bellows in the gas pipeline led to a temporary gas leak at the plant. "The situation was instantly brought under control through the plant’s safety mechanisms," the firm said, adding that sprinklers were activated, and the DSC control system safely halted plant operations. All personnel were immediately evacuated from the affected area, it added.

The workers who were potentially exposed to the gas leak were administered immediate first-aid at the site and few were shifted to nearby hospitals, the firm said. "We regret to report that one casualty and a few injuries have been recorded. While the post-mortem report is awaited, prima facie it appears to be during the rush of evacuation process. We deeply regret this incident and the loss of life. Our thoughts and condolences are with the bereaved family, and we are extending our full support during this difficult time," it added.

Gujarat Fluorochemicals is conducting a detailed investigation and continues to prioritize the highest standards of safety across all its operations, it said. The damage and losses incurred for disruption of production is covered under its insurance policy, the company in its exchange filing added.

"Workers who complained of nausea after the gas leak were immediately given the antidote at the on-site Occupational Health Centre and referred to the hospital. One person has died in the incident. The people living in nearby villages should not panic," DSP Hareshbhai Dudhat told ANI.
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Gujarat | One person has died in toxic gas leak at Gujarat Fluorochemicals Limited in Ranjitnagar village, Panchmahal district

DSP Hareshbhai Dudhat says, "We got information of a gas leak at Gujarat Fluorochemicals Limited at 12.10 pm today. Workers who complained of… <a href="https://t.co/rHwlZQp9ni">pic.twitter.com/rHwlZQp9ni</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1965751040009294081?ref_src=twsrc%5Etfw">September 10, 2025</a></blockquote>
<script src="https://platform.twitter.com/widgets.js" async="" charset="utf-8"></script>

Gujarat Fluorochemicals shares recovered some losses to close 3 percent lower at Rs 3,620.90 apiece. The shares have gained nearly 7 percent in the past five days, but have fallen more than 14 percent in 2025 so far.

Gujarat Fluorochemicals shares fall up to 5% after gas leak at Gujarat plant kills one, injures few

The shares of Gujarat Fluorochemicals dropped nearly 5 percent intraday on September 11 after the company announced that a gas leak at its plant in Gujarat's Ranjitnagar has caused one death and few injuries. The firm said it is working to restart operations at the plant.

In an exchange filing, Gujarat Fluorochemicals said a minor rupture at one of the bellows in the gas pipeline led to a temporary gas leak at the plant. &quot;The situation was instantly brought under control through the plant’s safety mechanisms,&quot; the firm said, adding that sprinklers were activated, and the DSC control system safely halted plant operations. All personnel were immediately evacuated from the affected area, it added.

The workers who were potentially exposed to the gas leak were administered immediate first-aid at the site and few were shifted to nearby hospitals, the firm said. &quot;We regret to report that one casualty and a few injuries have been recorded. While the post-mortem report is awaited, prima facie it appears to be during the rush of evacuation process. We deeply regret this incident and the loss of life. Our thoughts and condolences are with the bereaved family, and we are extending our full support during this difficult time,&quot; it added.

Gujarat Fluorochemicals is conducting a detailed investigation and continues to prioritize the highest standards of safety across all its operations, it said. The damage and losses incurred for disruption of production is covered under its insurance policy, the company in its exchange filing added.

&quot;Workers who complained of nausea after the gas leak were immediately given the antidote at the on-site Occupational Health Centre and referred to the hospital. One person has died in the incident. The people living in nearby villages should not panic,&quot; DSP Hareshbhai Dudhat told ANI.

#WATCH | Gujarat | One person has died in toxic gas leak at Gujarat Fluorochemicals Limited in Ranjitnagar village, Panchmahal district

DSP Hareshbhai Dudhat says, &quot;We got information of a gas leak at Gujarat Fluorochemicals Limited at 12.10 pm today. Workers who complained of… pic.twitter.com/rHwlZQp9ni
— ANI (@ANI) September 10, 2025


Gujarat Fluorochemicals shares recovered some losses to close 3 percent lower at Rs 3,620.90 apiece. The shares have gained nearly 7 percent in the past five days, but have fallen more than 14 percent in 2025 so far.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/finance-investments/tatainvestmentcorporation/TIC">Tata Investment Corporation</a> jumped nearly 3 percent intraday after a report said that Tata Capital is set to launch its IPO to raise around $2 billion (around Rs 17,688 crore) by early October.

Tata Capital is preparing to launch its IPO in the first half of October after asking Reserve Bank of India for a short extension to the launch timetable, Bloomberg reported citing people familiar with the matter. This comes after RBI told "upper layer" NBFCs to list by September 2025. Tata Capital Financial Services, which merged with Tata Capital in January 2024, is on the regulator's list.

Tata Capital is likely wrap up its IPO roadshows this week and file its second draft red herring prospectus soon, the report further said.

Moneycontrol couldn't independently verify the report.

Earlier in April this year, Moneycontrol reported that the N Chandrasekaran-led diversified conglomerate Tata Group has filed papers with SEBI for a <a href="https://www.moneycontrol.com/news/business/tata-capital-files-for-mega-rs-15-000-crore-plus-ipo-via-confidential-route-tata-sons-ifc-to-sell-shares-in-ofs-12985743.html">mega Rs 15,000-crore plus initial public offer (IPO)</a> of the group's flagship financial services arm Tata Capital via the confidential pre-filing route.

Tata Capital is a non-banking financial services (NBFC) firm and a subsidiary of the business group's principal investment holding company, Tata Sons.

"The draft papers have been filed with the market regulator through the confidential pre-filing route. The issue will be a combination of combination of primary and secondary issue of shares, Tata Sons and investor IFC will pare stake, with greater participation from the former " one of the persons above said.

On February 25, the Tata Capital board approved the IPO plan and said it will comprise a fresh issue of up to 230 million shares and an offer for sale of equity shares by its existing shareholders. The IPO is subject to market conditions, and regulatory clearances, the company said.

As on March 31, 2024, Tata Sons directly owned 92.83 per cent in Tata Capital Limited while the balance stake was held by other Tata Group entities and IFC.

Tata Investment Corporation shares jumped nearly 3 percent to hit an intraday high of Rs 6,990 apiece. The stock later pared some gains to close 1.4 percent higher at Rs 6,857 apiece. Its P/E ratio currently stands at 159.27.

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>

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Tata Investment Corp shares jump 3% as report says Tata Capital aiming to launch mega IPO in October

The shares of Tata Investment Corporation jumped nearly 3 percent intraday after a report said that Tata Capital is set to launch its IPO to raise around $2 billion (around Rs 17,688 crore) by early October.

Tata Capital is preparing to launch its IPO in the first half of October after asking Reserve Bank of India for a short extension to the launch timetable, Bloomberg reported citing people familiar with the matter. This comes after RBI told &quot;upper layer&quot; NBFCs to list by September 2025. Tata Capital Financial Services, which merged with Tata Capital in January 2024, is on the regulator's list.

Tata Capital is likely wrap up its IPO roadshows this week and file its second draft red herring prospectus soon, the report further said.

Moneycontrol couldn't independently verify the report.

Earlier in April this year, Moneycontrol reported that the N Chandrasekaran-led diversified conglomerate Tata Group has filed papers with SEBI for a mega Rs 15,000-crore plus initial public offer (IPO) of the group's flagship financial services arm Tata Capital via the confidential pre-filing route.

Tata Capital is a non-banking financial services (NBFC) firm and a subsidiary of the business group's principal investment holding company, Tata Sons.

&quot;The draft papers have been filed with the market regulator through the confidential pre-filing route. The issue will be a combination of combination of primary and secondary issue of shares, Tata Sons and investor IFC will pare stake, with greater participation from the former &quot; one of the persons above said.

On February 25, the Tata Capital board approved the IPO plan and said it will comprise a fresh issue of up to 230 million shares and an offer for sale of equity shares by its existing shareholders. The IPO is subject to market conditions, and regulatory clearances, the company said.

As on March 31, 2024, Tata Sons directly owned 92.83 per cent in Tata Capital Limited while the balance stake was held by other Tata Group entities and IFC.

Tata Investment Corporation shares jumped nearly 3 percent to hit an intraday high of Rs 6,990 apiece. The stock later pared some gains to close 1.4 percent higher at Rs 6,857 apiece. Its P/E ratio currently stands at 159.27.

Also read: Our LIVE blog on stock market updates

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Shares of Ambuja Cements and Adani Power came under pressure on Thursday, falling over 1 percent after large block deals on the exchanges.

According to CNBC-TV18, about 2.8 crore shares, representing 1.2 percent equity of <a href="https://www.moneycontrol.com/india/stockpricequote/cement-major/ambujacements/AC18">Ambuja Cements</a>, changed hands at Rs 552 apiece. The stock later ended nearly 1 percent lower at Rs 560.55 on the NSE.

<a href="https://www.moneycontrol.com/india/stockpricequote/power-generationdistribution/adanipower/AP11">Adani Power</a> slipped as much as 5.4 percent to an intraday low of Rs 600 following a block deal executed at a discount to the previous closing price. The stock recovered part of its losses and settled at Rs 626.4, down 1.27 percent.

Exchange data showed that more than 3.7 crore shares of Adani Power were traded in opening deals at an average price of Rs 608.35 per share, a discount of over 4 percent to Wednesday’s close of Rs 634.45.

Adani Power announced plans to invest Rs 21,000 crore to set up a 1.6 gigawatt ultra-supercritical thermal power project in Anuppur district of Madhya Pradesh. The company said it has secured a letter of award from MP Power Management Co for the supply of 1.6 GW and will establish two units of 800 MW each under the design, build, finance, own and operate model.

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.

Two Adani group stocks fall up to 1% amid large trade deals

Shares of Ambuja Cements and Adani Power came under pressure on Thursday, falling over 1 percent after large block deals on the exchanges.

According to CNBC-TV18, about 2.8 crore shares, representing 1.2 percent equity of Ambuja Cements, changed hands at Rs 552 apiece. The stock later ended nearly 1 percent lower at Rs 560.55 on the NSE.

Adani Power slipped as much as 5.4 percent to an intraday low of Rs 600 following a block deal executed at a discount to the previous closing price. The stock recovered part of its losses and settled at Rs 626.4, down 1.27 percent.

Exchange data showed that more than 3.7 crore shares of Adani Power were traded in opening deals at an average price of Rs 608.35 per share, a discount of over 4 percent to Wednesday’s close of Rs 634.45.

Adani Power announced plans to invest Rs 21,000 crore to set up a 1.6 gigawatt ultra-supercritical thermal power project in Anuppur district of Madhya Pradesh. The company said it has secured a letter of award from MP Power Management Co for the supply of 1.6 GW and will establish two units of 800 MW each under the design, build, finance, own and operate model.

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 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.

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.

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Gainers/Losers

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Earnings Review-Q1 FY25-26

Stock News

HDFC Mutual Fund remains seller in Bajel Projects for second day, offloads 1.9% stake

Gujarat Fluorochemicals shares fall up to 5% after gas leak at Gujarat plant kills one, injures few

Tata Investment Corp shares jump 3% as report says Tata Capital aiming to launch mega IPO in October

Two Adani group stocks fall up to 1% amid large trade deals

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

Plastics - Thermoplastics Industry StocksCheck latest stock performance, list of stocks, earnings review & more details about the Plastics - Thermoplastics industry stocks.

Gainers/Losers

Industry Market Map

Earnings Review-Q1 FY25-26

Stock News

HDFC Mutual Fund remains seller in Bajel Projects for second day, offloads 1.9% stake

Gujarat Fluorochemicals shares fall up to 5% after gas leak at Gujarat plant kills one, injures few

Tata Investment Corp shares jump 3% as report says Tata Capital aiming to launch mega IPO in October

Two Adani group stocks fall up to 1% amid large trade deals

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

Plastics - Thermoplastics Industry Stocks
Check latest stock performance, list of stocks, earnings review & more details about the Plastics - Thermoplastics industry stocks.