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Maruti Suzuki, M&M, NMDC, TVS Motor among 10 stocks to watch on June 3

Stocks to watch June 03: NMDC reported a 37 per cent decrease in total iron ore production for May 2024, reaching 2.34 million tonnes compared to 3.71 million tonnes year-on-year

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Illustration: Binay Sinha

Shivam Tyagi New Delhi

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Stocks to watch on Monday, June 03, 2024: Indian benchmarks Sensex and Nifty are poised for a strong opening on Monday, driven by favourable Exit Poll data indicating a landslide victory for the NDA in the Lok Sabha polls and a higher-than-expected GDP growth rate of 7.8 per cent for the fourth quarter of FY24.

The GIFT Nifty futures signal a robust start, quoting 643 points higher than Nifty50 futures at 23,343 levels. 

In Asia, markets opened in green with Japan's Nikkei 225 up by 1.17 per cent and the broad-based Topix index increasing by 1.15 per cent. South Korea’s Kospi surged 1.48 per cent, while the small-cap Kosdaq rose by 0.40 per cent. Australia’s S&P/ASX 200 also experienced a notable increase of 0.83 per cent
 

Amidst this buzz, below are some stocks to watch back home on Monday: 

NMDC: The PSU reported a 37 per cent decrease in total iron ore production for May 2024, reaching 2.34 million tonnes compared to 3.71 million tonnes year-on-year. Iron ore sales fell by 22 per cent to 2.82 million tonnes.

Puravankara: Its subsidiary, Purva Oak, acquired 12.75 acres of land in Thane, with an estimated potential carpet area of 18.20 lakh square feet and a potential gross development value (GDV) of Rs 4,000 crore.

Moschip Technologies: The firm secured a Rs 509.37 crore contract from the Centre for Development of Advanced Computing (CDAC) for the design, development, and delivery of an HPC SoC based on 5nm technology.

Ahluwalia Contracts: It has secured a contract worth Rs 2,157 crore from India Jewellery Park, Mumbai, for the construction and development of Gems & Jewellery Park in Mahape, Navi Mumbai. The company also secured a contract worth Rs 88.15 crore from Daffodil Hotel.

Maruti Suzuki: In May 2024, Maruti Suzuki India witnessed a 2 per cent year-on-year decline in total wholesales, amounting to 174,551 units. It announced a significant price reduction for various models in its Auto Gear Shift (AGS) lineup on Saturday. The reduction applies to Alto K10, S-Presso, Celerio, Wagon-R, Swift, Dzire, Baleno, Fronx, and Ignis. Maruti Suzuki revealed that the prices for these AGS variants have been slashed by Rs 5,000. 

Mahindra and Mahindra: M&M reported a 16.7 per cent increase in total sales volumes for the month of May, reaching 71,682 units compared to 61,415 units year-on-year. Passenger vehicle sales surged by 31 per cent to 43,218 units, while tractor sales saw a 9 per cent growth to 37,109 units and tractor exports soared by 85 per cent to 1,872 units.

TVS Motor Company: Recorded a 12 per cent growth in total sales in May, totaling 3.70 lakh units compared to 3.30 lakh units year-on-year. Two-wheeler sales rose by 13 per cent to 3.59 lakh units, with electric vehicle sales increasing by 4 per cent to 18,674 units and exports jumping by 27 per cent to 96,966 units. However, three-wheeler sales declined by 8.8 per cent to 10,324 units.

Tata Motors: Tamo registered a 2.4 per cent growth in total salesm in May, reaching 76,766 units compared to 74,973 units year-on-year. Domestic sales increased by 2 per cent to 75,173 units, with commercial vehicle sales rising by 2 per cent to 29,691 units and passenger vehicle sales up by 2 per cent to 47,075 units.

Hero MotoCorp: The company witnessed a 4.1 per cent decrease in total sales in May, amounting to 4.98 lakh units compared to 5.19 lakh units year-on-year. Domestic sales dipped by 5.7 per cent to 4.79 lakh units, while exports surged by 67.3 per cent to 18,673 units.

Eicher Motors: The firm saw a decrease of 8 per cent in Royal Enfield sales in May, amounting to 71,010 units compared to 77,461 units year-on-year. International Business (Royal Enfield) sales grew by 12 per cent to 7,479 units, while total VECV sales rose by 9.7 per cent to 6,901 units.

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First Published: Jun 03 2024 | 7:48 AM IST

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