Latest news with #Mahindra&Mahindra
Business Upturn
3 hours ago
- Business
- Business Upturn
Top stocks to watch today, June 2: Mahindra & Mahindra, BPCL, TVS Motor, IRCON, Adani Energy, Mazagon Dock and more
By Aman Shukla Published on June 2, 2025, 08:30 IST Indian stock markets closed lower on Friday, dragged by weakness in heavyweights and broader consolidation. The BSE Sensex fell by 182.01 points or 0.22%, ending the day at 81,451.01. The NSE Nifty 50 also declined, slipping by 82.90 points or 0.33% to settle at 24,750.70. Today, several stocks are expected to remain in focus following key developments and financial updates: Stocks to Watch on June 2 Mahindra & Mahindra (M&M): Reported May sales higher than estimates, continuing to outperform industry peers. Coal India: Filed a Draft Red Herring Prospectus (DRHP) with SEBI, NSE, and BSE for its subsidiary Bharat Coking Coal. Bharat Petroleum Corporation Ltd (BPCL): Board approved investment in joint ventures Tikitar and Shell India; also approved changes to a cracking unit project worth ₹14,200 crore. TVS Motor: Recorded sales growth of over 14% across all segments in May. Eicher Motors: May sales led by the up to 350cc segment, with Royal Enfield sales up 26% year-over-year. Apollo Hospitals: Fourth-quarter results aligned with estimates; announced expansion in Bengaluru with a ₹1,144 crore investment. Nykaa: Reported EBITDA growth of 43%, with margins improving to 6.5% from 5.6% year-over-year. Mazagon Dock Shipbuilders: Expecting 8-10% revenue growth in FY26; Q4 margin impacted by provisions. IRB Infrastructure/IRB InvIT: Signed a binding term sheet to sell three assets for an equity value of ₹4,905 crore. Godrej Properties: Acquired approximately 14 acres of land in Kharadi, Pune, with an estimated revenue potential of ₹4,200 crore. Adani Energy: Awarded a ₹1,660 crore transmission project in Maharashtra; board approved a ₹4,300 crore Qualified Institutional Placement (QIP). IRCON: Secured an EPC order worth ₹1,068.3 crore from East Central Railway. Ajmera Realty: Delivered luxury project Ajmera Prive ahead of RERA timelines. IndiGo: Signed a Memorandum of Understanding (MoU) with Airbus for 30 additional widebody Airbus A350-900 aircraft. Chennai Petroleum: Holding company IOC approved a ₹1,620 crore investment proposal. MOIL: Reduced prices of all chemical grades and manganese ore fines by 5-15%, effective immediately. Solar Industries: Received a ₹402 crore order from Coal India for the supply of cartridge explosives. Olectra Greentech: Maharashtra government reinstated the ₹10,000 crore electric bus order under a new delivery schedule. Genus Power: Reported EBITDA of ₹196.3 crore versus ₹51 crore last year; margin improved to 20.95% from 12.16%. AstraZeneca: EBITDA increased by 74.7%, margin expanded to 17.96% from 12.89%. Ashiana Housing: EBITDA rose 4.2%, margin increased to 9.88% from 6.93%. Tata Motors: May sales fell 8.6% year-over-year, below estimates. Delhi High Court: Restrained DRL/Onesource from selling Novo Nordisk's Semaglutide in the domestic market. Hero MotoCorp: May sales below estimates; all segments showed low single-digit growth. Cipla: US FDA issued one observation for the Bommasandra facility. Hindalco, Tata Steel: US to double tariffs on steel and aluminium to 50% from June 4. Sun TV: EBITDA declined 18%, margin reduced to 45.61% from 54.40%. Alembic Pharma: US FDA issued Form 483 with four observations for API-I and II units. Niva Bupa: Sources indicate a potential up to 7.2% stake sale via block deal at an 11% discount to CMP. Vodafone Idea: Losses widened; subscriber base continued to shrink. Inox Wind: FY25 execution below management expectations; order inflows down 35% year-over-year. Puravankara: Net loss expanded; margin contracted to 5.63% from 12.32%. Spandana: Q4 disbursement down 91% year-over-year and 75% quarter-over-quarter; net interest income declined 48%. Titagarh Rail: EBITDA down 14.7%; margin at 10.18% compared to 11.41% last year. NFL: EBITDA down 38%; margin at 5.27% versus 7.18%. Ramkrishna: EBITDA declined 47%; margin reduced to 10.45% from 19.30%. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
5 hours ago
- Business
- Time of India
May GST Mopup Shows FY26 Off to a Flying Start
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Epaper Tired of too many ads? Remove Ads Goods and services tax collections surged 16.4% in May to ₹2.01 lakh crore from a year earlier, signaling robust demand at the start of the fiscal year after a strong close to FY25, data released on Sunday high-frequency monthly data also showed strong economic momentum in May. Unified Payments Interface transactions rose 33% year-on-year in the month to 17.8 billion transactions. Mahindra & Mahindra, the country's second-largest automaker, reported 21% higher sales in May, though overall industry sales are likely to be flat on the high base of last economy grew at a better-than-expected 7.4% in the March quarter from a year ago, as per data released May 30. Previously released numbers showed HSBC Flash India Composite Output Index for May at 61.2 against 59.7 in April, indicating expansion in private sector activity.'The (GST collection) figures reported for May 2025, which relate to transactions in the first month of FY26, at ₹2.01 lakh crore would provide significant fiscal headroom for the government,' said MS Mani, partner, indirect taxes, Deloitte India. 'These figures are also in line with the recent GDP growth estimates, which indicate a robust consumption pattern across months.'This is the second time in a row GST has exceeded ₹2 lakh crore. The average monthly gross GST collection in FY25 was ₹1.84 lakh be sure, the May figure is down from the high of ₹2.38 lakh crore in April, but analysts said collections in that month are traditionally higher.'While last month's spike was expected with year-end reconciliations, the consistency this month along with a 16% plus year-on-year growth points to strong underlying momentum and a recovery that is clearly taking hold,' said Abhishek Jain, indirect tax head and partner, revenues from imports are 25% higher despite tariff headwinds, indicating strength in the domestic GST collections stood at ₹1.49 lakh crore, up 13.7%. After accounting for refunds, net GST revenue for May was ₹1.73 lakh crore, 20% up from last export refunds were down 36.25%.'This suggests that April's increased exports were primarily on account of companies building their stocks' owing to the tariff threat, said Saurabh Agarwal, tax partner, the large states, Maharashtra, West Bengal, Karnataka and Tamil Nadu reported a 17-25% rise while Gujarat and Telangana clocked a 4-6% increase.'The wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state,' Mani also said consistent robust GST collections make a case for rate rationalisation.'If the growth continues in this range for next couple of months, it might provide the cushion for the government to look at rate rationalisation on which a lot of work has already been done,' said Pratik Jain, partner, May, gross central GST revenue stood at ₹35,434 crore, state GST revenue at ₹43,902 crore and integrated GST at ₹1.09 lakh crore. Revenue from cess was ₹12,879 crore.
Economic Times
6 hours ago
- Business
- Economic Times
May GST mopup up by 16.4%; shows FY26 off to a flying start
India's GST collections soared 16.4% to ₹2.01 lakh crore in May, signaling strong economic momentum at the start of FY26. This robust growth, supported by increased UPI transactions and auto sales, provides significant fiscal headroom for the government. Experts suggest that continued strong GST performance could pave the way for rate rationalization. Tired of too many ads? Remove Ads Revenues from imports up 25% Tired of too many ads? Remove Ads Goods and services tax collections surged 16.4% in May to ₹2.01 lakh crore from a year earlier, signaling robust demand at the start of the fiscal year after a strong close to FY25, data released on Sunday high-frequency monthly data also showed strong economic momentum in May. Unified Payments Interface transactions rose 33% year-on-year in the month to 17.8 billion transactions. Mahindra & Mahindra, the country's second-largest automaker, reported 21% higher sales in May, though overall industry sales are likely to be flat on the high base of last economy grew at a better-than-expected 7.4% in the March quarter from a year ago, as per data released May 30. Previously released numbers showed HSBC Flash India Composite Output Index for May at 61.2 against 59.7 in April, indicating expansion in private sector activity.'The (GST collection) figures reported for May 2025, which relate to transactions in the first month of FY26, at ₹2.01 lakh crore would provide significant fiscal headroom for the government,' said MS Mani, partner, indirect taxes, Deloitte India. 'These figures are also in line with the recent GDP growth estimates, which indicate a robust consumption pattern across months.'This is the second time in a row GST has exceeded ₹2 lakh crore. The average monthly gross GST collection in FY25 was ₹1.84 lakh be sure, the May figure is down from the high of ₹2.38 lakh crore in April, but analysts said collections in that month are traditionally higher. 'While last month's spike was expected with year-end reconciliations, the consistency this month along with a 16% plus year-on-year growth points to strong underlying momentum and a recovery that is clearly taking hold,' said Abhishek Jain, indirect tax head and partner, revenues from imports are 25% higher despite tariff headwinds, indicating strength in the domestic GST collections stood at ₹1.49 lakh crore, up 13.7%. After accounting for refunds, net GST revenue for May was ₹1.73 lakh crore, 20% up from last export refunds were down 36.25%. 'This suggests that April's increased exports were primarily on account of companies building their stocks owing to the tariff threat,' said Saurabh Agarwal, tax partner, the large states, Maharashtra, West Bengal, Karnataka and Tamil Nadu reported a 17–25% rise while Gujarat and Telangana clocked a 4–6% increase.'The wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state,' Mani also said consistent robust GST collections make a case for rate rationalisation. 'If the growth continues in this range for next couple of months, it might provide the cushion for the government to look at rate rationalisation on which a lot of work has already been done,' said Pratik Jain, partner, May, gross central GST revenue stood at ₹35,434 crore, state GST revenue at ₹43,902 crore and integrated GST at ₹1.09 lakh crore. Revenue from cess was ₹12,879 crore.
Time of India
6 hours ago
- Business
- Time of India
May GST mopup up by 16.4%; shows FY26 off to a flying start
Revenues from imports up 25% Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Goods and services tax collections surged 16.4% in May to ₹2.01 lakh crore from a year earlier, signaling robust demand at the start of the fiscal year after a strong close to FY25, data released on Sunday high-frequency monthly data also showed strong economic momentum in May. Unified Payments Interface transactions rose 33% year-on-year in the month to 17.8 billion transactions. Mahindra & Mahindra, the country's second-largest automaker, reported 21% higher sales in May, though overall industry sales are likely to be flat on the high base of last economy grew at a better-than-expected 7.4% in the March quarter from a year ago, as per data released May 30. Previously released numbers showed HSBC Flash India Composite Output Index for May at 61.2 against 59.7 in April, indicating expansion in private sector activity.'The (GST collection) figures reported for May 2025, which relate to transactions in the first month of FY26, at ₹2.01 lakh crore would provide significant fiscal headroom for the government,' said MS Mani, partner, indirect taxes, Deloitte India. 'These figures are also in line with the recent GDP growth estimates, which indicate a robust consumption pattern across months.'This is the second time in a row GST has exceeded ₹2 lakh crore. The average monthly gross GST collection in FY25 was ₹1.84 lakh be sure, the May figure is down from the high of ₹2.38 lakh crore in April, but analysts said collections in that month are traditionally higher. 'While last month's spike was expected with year-end reconciliations, the consistency this month along with a 16% plus year-on-year growth points to strong underlying momentum and a recovery that is clearly taking hold,' said Abhishek Jain, indirect tax head and partner, revenues from imports are 25% higher despite tariff headwinds, indicating strength in the domestic GST collections stood at ₹1.49 lakh crore, up 13.7%. After accounting for refunds, net GST revenue for May was ₹1.73 lakh crore, 20% up from last export refunds were down 36.25%. 'This suggests that April's increased exports were primarily on account of companies building their stocks owing to the tariff threat,' said Saurabh Agarwal, tax partner, the large states, Maharashtra, West Bengal, Karnataka and Tamil Nadu reported a 17–25% rise while Gujarat and Telangana clocked a 4–6% increase.'The wide variations in the growth of GST collections across states require a thorough analysis across the sectors that are important in each state,' Mani also said consistent robust GST collections make a case for rate rationalisation. 'If the growth continues in this range for next couple of months, it might provide the cushion for the government to look at rate rationalisation on which a lot of work has already been done,' said Pratik Jain, partner, May, gross central GST revenue stood at ₹35,434 crore, state GST revenue at ₹43,902 crore and integrated GST at ₹1.09 lakh crore. Revenue from cess was ₹12,879 crore.
Economic Times
14 hours ago
- Automotive
- Economic Times
Passenger vehicle sales remain flat in May amid sluggish demand
Agencies Representational Image Sales of cars, sedans and utility vehicles remained largely flat last month, albeit on a high base, amid sluggish consumer demand in the local market. As per initial industry estimates about 352,000 passenger vehicles were sold last month, which is an increase of about 0.1% over the same period last fiscal. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers. Retail sales are estimated to have dropped by 0.8% in this period, industry insiders said. A senior industry executive who did not wish to be identified said, 'There is pressure in the market. But we also have to remember that the base is now very high. India is one of the very high markets in the world which is selling more than 4 million passenger vehicles annually. So even if the growth is modest, and is likely to remain so for some time, volumes are still good.' Demand in the local market continued to be driven by SUVs last month, with companies like Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) clocking robust sales numbers. Market leaders Maruti Suzuki and Hyundai did not release sales numbers for May Sunday. Homegrown auto major Mahindra, in fact, continued to maintain its lead over rival Tata Motors in May, powered by demand for its range of utility vehicles. Mahindra sold 52,431 units last month, which is an increase of 21% over 43,218 units sold in May 2024. At Tata Motors, sales fell by 11% to 41,557 units in the same period. Nalinikanth Gollagunta, CEO, Automotive Division, M&M, said, 'Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio.' Toyota Kirloskar Motor (TKM) reported an increase of 22% to sell 29,280 units last month. Varinder Wadhwa, Vice President, Sales-Service-Used Car Business, said, in line with overall market trends, the company's MPV and SUV segments continued to be the primary growth drivers—reflecting a clear shift in customer preference towards versatile mobility options.'With the onset of the monsoon and forecasts indicating a normal to above-normal season, we remain optimistic about improved market sentiment in the coming months, particularly across rural and semi-urban regions. This, backed by our vast product portfolio and innovative campaigns, we are well-positioned to maintain this growth trajectory', Wadhwa informed. Kia India and JSW MG Motor saw sales grow by 14% (to 22315 units) and 40% (to 6304 units), respectively. In the two-wheeler segment, demand remained healthy with Chennai-based TVS Motor Company reporting sales increase of 14% at 309,287 units in May. Sales of commercial vehicles was subdued. Market leader Tata Motors saw sales fall 9% to 25,872 units in the month under review. In the farm equipment sector, Mahindra sold 38,914 tractors last month, which is an increase of 10% over Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra, said, 'Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels , Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand.' COMPANY MAY 2024 MAY 2025 % CHANGE Mahindra & Mahindra 43218 52431 21 Tata Motors 46697 41557 -11 Toyota Kirloskar Motor 23928 29280 22.4 Kia India 19500 22315 14.4 JSW MG Motor India 4510 6304 40
