Stocks in Focus: M&M, Infosys, HDFC Bank, and Others

Market Watch: Key Stocks to Monitor Today

The stock market is abuzz with activity as several companies release their latest updates. In this article, we’ll take a closer look at the key developments surrounding M&M, Infosys, HDFC Bank, and other notable stocks.

Mahindra and Mahindra (M&M) Reports Impressive Production and Sales Growth

M&M reported a significant increase in production for May, with a 27.6% year-over-year growth to reach 89,626 units, up from 70,261 units in the same period last year. The company’s total sales also saw a 16.6% year-over-year rise, with 80,458 units sold compared to 69,011 units previously. Additionally, M&M’s total exports in May surged by 36.7% year-over-year, from 2,671 units to 3,652 units.

Infosys Faces No GST Liability for FY 2018-19 to 2021-22

The Director General of GST Intelligence has closed pre-show cause notice proceedings against Infosys for financial years 2018-19 to 2021-22, involving a GST amount of Rs 32,403 crore. This development comes as a relief to the company.

HDFC Bank Addresses Allegations by Mehta Family

HDFC Bank has issued a statement denying allegations made by the Mehta family, which claims the bank and its CEO are targeting them over a long-overdue loan of around Rs 65.22 crore from Splendour Gems Ltd., which defaulted in 2001. The bank asserts that these allegations are false, malicious, and an attempt to obstruct recovery.

Garden Reach Shipbuilders Expands Global Partnerships

Garden Reach Shipbuilders has signed a Memorandum of Understanding (MoU) with Sweden-based Berg Propulsion for the supply of marine propulsion systems and with Denmark-based SunStone for a partnership in areas of expedition cruise vessels.

NTPC Commences Commercial Operations of Khavda-I Solar PV Project

NTPC’s arm has commenced commercial operations of Part I of the Khavda-I solar PV project, marking a significant milestone for the company.

Other Notable Developments

• Hindustan Zinc’s board will consider its first interim dividend for financial year 2026 on June 11.
• MCX received approval from SEBI to launch Electricity Derivatives.
• Bikaji Foods International: NCLT approved the scheme of amalgamation of Vindhyawasini Sales with the company.
• Hyundai Motor India released Rs 16 crore as the 1st tranche towards the subscription of 23.6 lakh shares of FPEL TN Wind Farm.
• Afcons Infrastructure received a letter of award for Rs 700 crore order from Reliance Industries for construction works of vinyl projects at Dahej, Gujarat.
• Hindustan Copper signed an MoU with Rites to secure supply chain of metals and minerals, including critical minerals.

Conclusion and Future Outlook

As the market continues to evolve, investors and analysts will be keeping a close eye on these stocks and their future developments. With several companies announcing significant updates, it’s essential to stay informed and adjust investment strategies accordingly.