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In the Utility Vehicles segment, Mahindra sold 58,021 vehicles in the domestic market, a growth of 11% on YoY basis. The domestic sales for Commercial Vehicles stood at 24,079, up 19% YoY.
Total exports increased by 37% to 5,000 units in May 2026 from 3,646 units in May 2025.
Nalinikanth Gollagunta, CEO, Automotive Division, M&M, said: “The sustained demand across our portfolio continues, constrained by supply chain challenges due to manpower shortages at select suppliers.”
M&M’s Farm Equipment Business (FEB) has recorded domestic sales of 47,845 units in May 2026 as against 38,914 units in May 2025, reflecting a 23% year-on-year growth. Exports for the month stood at 1,850 units, up 7% YoY.
Total tractor sales (domestic + exports) during May 2026 were at 49,695 units as against 40,643 units for the same period last year, up 22% YoY.
Veejay Nakra, president, Farm Equipment Business, Mahindra & Mahindra, said: “This high growth was driven by timely completion of Rabi harvesting & favorable terms of trade for farmers.”
The Trucks and Buses (CV > 3.5T) business of Mahindra & Mahindra has reported total sales of 3,129 vehicles for May 2026, which is a YoY growth of 18%.
Of this, Cargo Vehicle sales added up to 1,153 units (up 0.4% YoY) and that of Passenger Vehicles was 1,976 units (up 32% YoY).
Mahindra’s Trucks & Buses business comprises of Mahindra Trucks & Buses division (MTBD) and SML Mahindra (SML).
Vinod Sahay, executive chairman – SML, president – Aerospace, Advanced Technologies, Trucks, Buses & CE, M&M, said: “The CV industry continues to face near-term headwinds, driven by elevated input costs and higher diesel prices amid ongoing geopolitical uncertainties, putting pressure on fleet operators’ profitability.
The industry is showing signs of short to medium term moderation even though structural drivers such as infrastructure spending and replacement demand remain supportive for long term growth. We maintain an overall cautious outlook as cost pressures and macroeconomic uncertainties continue to weigh on industry sentiments currently.”
M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The company's standalone net profit jumped 53.34% to Rs 3,737.27 crore in Q4 FY26 as against Rs 2,437.14 crore reported in Q4 FY25. Total income increased by 25.29% year on year to Rs 40,244.81 crore in the quarter ended 31 March 2026.
The scrip fell 1.08% to currently trade at Rs 3002.15 on the BSE.
Mahindra and Manulife announced their partnership to create a life insurance business on 12 November 2025. Today, both companies have confirmed the incorporation of a 50:50 JV company as Mahindra Manulife Insurance (MMIL), following approval from the Ministry of Corporate Affairs. The incorporation of MMIL marks the next step in that journey.
The venture brings together Mahindra's strong presence in India with Manulife's global expertise to build a simple, customer-first, AI-native and digitally led life insurer. By combining the extensive distribution reach of Mahindra with Manulife's strengths in product innovation, underwriting, and agency-led distribution, MMIL will focus on policyholder protection and offer holistic, need-based financial solutions.
MMIL aims to address India's large protection gap through a range of long-term savings and protection products, with a strong focus on rural and semi-urban markets while building leadership in protection solutions for urban customers. The partnership combines Mahindra's wide distribution reach with Manulife's strengths in product innovation, underwriting, and agency-led distribution. Together, the partners are committed to establishing MMIL as a trusted, digital, technology-driven and AI-native insurer aligned with India's long-term growth and the vision of “Insurance for All.”
The auto shares witnessed selling pressure for the second consecutive trading session.
At 12:25 IST, the barometer index, the S&P BSE Sensex tumbled 879.15 points or 1.14% to 76,448.11. The Nifty 50 index declined 239 points or 0.99% to 23,937.50.
The broader market outperformed the frontline indices. The BSE 150 MidCap Index dropped 0.92% and the BSE 250 SmallCap Index fell 0.66%.
The market breadth was strong. On the BSE, 2,666 shares rose and 1,480 shares fell. A total of 220 shares were unchanged.
In the commodities market, Brent crude for June 2026 settlement added $3.42 or 3.38% to $104.71 a barrel.
In the foreign exchange market, the rupee declined against the dollar. The partially convertible rupee was hovering at 95.1600 compared with its close of 93.5100 during the previous trading session.
PM Modi Urges Austerity Amid Energy Crisis:
Amid elevated crude oil prices and the ongoing U.S.-Iran conflict, Prime Minister Narendra Modi urged citizens to adopt austerity measures, including reducing petrol and diesel consumption, avoiding non-essential gold purchases and foreign travel, and promoting the use of locally manufactured products. He also advocated greater use of public transport, EVs, work-from-home practices, and domestic tourism to conserve foreign exchange reserves and strengthen India’s economic resilience.
The Prime Minister also called for reduced edible oil consumption and lower dependence on chemical fertilizers, while encouraging natural farming and wider adoption of solar-powered irrigation systems. Stressing the importance of the ‘Vocal for Local’ initiative, Modi said increasing the use of indigenous products was essential to reduce import dependence and safeguard national interests amid global economic disruptions.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 8.40% to 18.26. The Nifty 26 May 2026 futures were trading at 23,975, at a premium of 37.5 points as compared with the spot at 23,937.50
The Nifty option chain for the 26 May 2026 expiry showed a maximum call OI of 56.3 lakh contracts at the 25,000 strike price. A maximum put OI of 38.4 lakh contracts was seen at the 23,000 strike price.
Buzzing Index:
The Nifty Auto index declined 1.54% to 26,840.65. The index fell 1.83% in the two consecutive trading sessions.
Ashok Leyland (down 3.35%), Mahindra & Mahindra (down 2.51%), Bosch (down 2.12%), Exide Industries (down 2.1%), Tata Motors Passenger Vehicles (down 2.07%), Tube Investments of India (down 1.87%), Eicher Motors (down 1.4%), TVS Motor Company (down 1.23%), Hero MotoCorp (down 1.21%) and Maruti Suzuki India (down 1.04%) advanced.
Stocks in Spotlight:
Kewal Kiran Clothing declined 3.15%. The company has reported 14.2% rise in net profit to Rs 34.5 crore on a 12.4% rise in revenue from operations to Rs 323.8 crore in Q4 FY26 as compared with Q4 FY25.
Aarti Surfactants dropped 10.42% after the company’s consolidated net profit tumbled 56.89% to Rs 4.19 crore in Q4 FY26 from Rs 9.72 crore in Q4 FY25. Revenue from operations jumped 26.83% YoY to Rs 256.28 crore in the quarter ended 31 March 2026.
Mahindra & Mahindra Ltd rose 2.35% today to trade at Rs 3287. The BSE Auto index is up 1.5% to quote at 58588.85. The index is up 8.96 % over last one month. Among the other constituents of the index, Ashok Leyland Ltd increased 2.03% and Samvardhana Motherson International Ltd added 1.91% on the day. The BSE Auto index went up 15.1 % over last one year compared to the 3.89% fall in benchmark SENSEX.
Mahindra & Mahindra Ltd has added 8.78% over last one month compared to 8.96% gain in BSE Auto index and 4.59% rise in the SENSEX. On the BSE, 55325 shares were traded in the counter so far compared with average daily volumes of 1.75 lakh shares in the past one month. The stock hit a record high of Rs 3840 on 05 Jan 2026. The stock hit a 52-week low of Rs 2896.3 on 16 Mar 2026.
Mahindra & Mahindra Ltd rose for a third straight session today. The stock is quoting at Rs 3248.7, up 1.18% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.06% on the day, quoting at 24018.3. The Sensex is at 76839.15, down 0.23%. Mahindra & Mahindra Ltd has added around 8.05% in last one month.
Meanwhile, Nifty Auto index of which Mahindra & Mahindra Ltd is a constituent, has added around 7.96% in last one month and is currently quoting at 26192.1, up 0.46% on the day. The volume in the stock stood at 42.99 lakh shares today, compared to the daily average of 31.13 lakh shares in last one month.
The benchmark May futures contract for the stock is quoting at Rs 3258.6, up 0.9% on the day. Mahindra & Mahindra Ltd is up 4.13% in last one year as compared to a 1.62% fall in NIFTY and a 13.84% fall in the Nifty Auto index.
The PE of the stock is 24.62 based on TTM earnings ending March 26.
For the full year,net profit rose 32.25% to Rs 17098.85 crore in the year ended March 2026 as against Rs 12929.10 crore during the previous year ended March 2025. Sales rose 24.59% to Rs 197792.78 crore in the year ended March 2026 as against Rs 158749.75 crore during the previous year ended March 2025.