Stocks to Watch, June 2: Tata Motors, M&M, metal stocks, IndiGo, SpiceJet, Aegis Vopak, Leela Hotels, IOC, Reliance Infra

The Mumbai-based auto major had reported total sales of 76,766 units in May 2024.

Domestic sales declined 10% YoY to 67,429 units, as compared to 75,173 units in the year-ago period, Tata Motors said in a statement.

In the utility vehicles segment, the Mumbai-based automaker sold 52,431 vehicles in the domestic market, a growth of 21 per cent, as compared to 43,218 units in May last year.

"Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio," Mahindra & Mahindra (M&M) CEO Automotive Division Nalinikanth Gollagunta said.

The company said its tractor sales in the domestic market stood at 38,914 units last month, as against 35,237 units in May 2024.

Total tractor sales (domestic and exports) last month were at 40,643 units, as against 37,109 units for the same period last year.

The company had reported a total sales of 3,69,914 units in May 2024.

Two-wheelers registered a growth of 16%, with sales increasing from 3,59,590 units in May 2024 to 4,16,166 units in May 2025.

The domestic two-wheeler segment registered a growth of 14%, with sales increasing from 2,71,140 units in May last year to 3,09,287 units in May 2025, it added.

Three-wheeler sales increased 46% YoY to 15,109 units in May.

Kashyap has been with the Kotak Group for over three decades and has been heading the wholesale banking business since 2022.

He has led several key businesses, including Structured Finance, Real Estate, and Debt Capital Markets, during his long career with the Group.

The bank also said that Shanti Ekambaram, Deputy Managing Director, will be retiring from her role effective October 31, 2025, upon completion of her current term.

In the current year itself, the company is estimated to export ₹1,500 crore of large calibre ammunition.

Reliance Infrastructure has already clocked exports of up to ₹100 crore of artillery ammunition and aggregates and is aiming to be among the top three exporters of defence equipment in India, sources aware of the matter said.

The key export market for Reliance includes countries in the European Union, focusing on large restocking demand for artillery ammunition.

According to the experts, the market size for restocking is estimated at ₹4,00,000 crore.

"This marks IOC's entry into the green hydrogen space with India's largest-ever green hydrogen project to date," the firm said in a statement.

IOC, however, did not give costings and other financial details.

"Slated for commissioning by December 2027, the green hydrogen produced will replace fossil-derived hydrogen in refinery operations, resulting in substantial reduction in carbon emissions," it said.

Besides, in a separate announcement, the Indian Biogas Association on Sunday said it has signed an MoU with Indian Oil Corporation Ltd (IOCL) for the development of the bioenergy and bio-hydrogen sector.

This collaboration seeks to develop and expand the bioenergy sector on the basis of synergies between both organisations, a statement said.

The price of aviation turbine fuel (ATF) was reduced by ₹2,414.25 per kilolitre, or 2.82%, to ₹83,072.55 per kl in the national capital – home to one of the busiest airports in the country, according to state-owned fuel retailers.

Besides, IndiGo shares will also be in focus as IndiGo, Delta Air Lines, Air France-KLM and Virgin Atlantic on Sunday announced a partnership to enhance air connectivity from India to Europe as well as North America.

"Linking dozens of cities in the US, Canada, Europe and India, the airlines aim to meet rising demand for international travel while setting new standards for connectivity and cooperation in global aviation," a release said.

IndiGo, India's largest airline, is expanding its international network and is set to start flights to 10 overseas cities in the current fiscal year ending March 2026.

The fashion and beauty retailer had logged a profit (attributable to equity shareholders of the parent) of ₹6.93 crore in the year-ago period, according to a regulatory filing.

Revenue from operations was 23.6% higher at ₹2,061.76 crore during the quarter, against ₹1,667.98 crore a year earlier.

However, seen sequentially, profit and revenue fell 22.3% and 9%, respectively.

The troubled telco said that the recent dismissal of its plea on AGR dues relief by the Supreme Court does not preclude it from further engaging with the government based on its foreseeable cash flows to arrive at an appropriate solution on this issue.

It had posted a net profit of ₹38.74 crore in the fourth quarter of the preceding 2023-24 financial year, the company said in an exchange filing.

The company's income more than doubled to ₹1,310.65 crore during the January-March FY25 from ₹569.04 crore in Q4 FY24.

For the entire FY25, the company reported a net profit of ₹437.62 crore. It had clocked a ₹48.16 crore loss in FY24.

In April last year, the airline placed a firm order for 30 A350 aircraft, and there was an option to order 70 more such planes.

At a briefing in the national capital, IndiGo CEO Pieter Elbers said that out of the option for 70 planes, it is now placing a firm order of 30 aircraft.

The airline has over 900 planes on order that are to be delivered in the coming years.

Expressing concern over the Trump administration's move, they said the Indian government should take up the matter bilaterally with the US authorities.

On May 30, Trump announced that he would double the existing 25 per cent tariffs on steel and aluminium imports from June 4.

In the quarter ended March 31, 2024, the company had reported a profit of ₹37.46 crore, according to a company statement.

Brightcom Group's operating income stood at ₹987.48 crore in Q4 FY25, up from ₹704.60 crore in the same quarter of the previous year.

It had posted a net profit of ₹15.21 crore in the January-March period of the preceding fiscal year, the company said in an exchange filing on Friday.

During the fourth quarter, the company's total income increased 32% to ₹472.68 crore from ₹358.42 crore in Q4 FY24.

The Mumbai-based drug major said the capital outlay will help in significantly strengthening the company's speciality (patented products) business for the future.

"For the current year, we are looking to invest approximately USD 100 million additionally on the commercialisation of new speciality products," Shanghvi told analysts in a call.

The decision was taken in the board meeting held on May 31, 2025, a regulatory filing said.

The board approved the raising of funds by the issuance of equity shares having a face value of ₹10 each or other securities or any combination for an aggregate amount of up to ₹4,300 crore through qualified institutional placement (QIP) or other modes, in one or more tranches.

The price of natural gas from legacy fields allocated to state-owned ONGC without auction has been reduced from USD 6.75 to USD 6.41 per million British thermal units (mmBtu), according to a notification from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC).

The reduction, which is the first since the government in April 2023 implemented a new formula to price such gas, will aid city gas retailers like Indraprastha Gas Ltd, Mahanagar Gas Ltd and Adani-Total Gas Ltd, who had been reeling under cost pressures from the rise in input costs.