Mahindra & Mahindra , a leading Indian automotive manufacturer, has reported significant growth in its production, sales, and export figures, along with an improved Environmental, Social, and Governance (ESG) rating.

Production and Sales Surge

Mahindra & Mahindra's total production increased to 82,862 units, up from 70,540 units in the previous year, marking a substantial year-over-year growth. The company's total sales also saw a notable rise, reaching 80,917 units compared to 64,929 units in the same period last year.

Export Growth and Model Performance

Exports showed impressive growth, more than doubling from 1,515 units to 2,774 units year-over-year. The Thar and Thar Roxx models demonstrated particularly strong performance, with diesel variant sales more than doubling from 4,142 units to 8,880 units.

Electric Vehicle Debut

In a significant move towards electrification, Mahindra & Mahindra introduced the Electric Origin SUV. The company reported production of 4,290 units and sales of 4,008 units for this new electric model, indicating a strong market reception.

Model-wise Performance

Other models also showed notable performance:

ESG Rating Upgrade

In addition to the strong sales performance, Mahindra & Mahindra received an upgraded ESG rating from CRISIL ESG Ratings & Analytics Limited. The company's overall ESG rating has been revised to 'CRISIL ESG 66' from 'CRISIL ESG 65', indicating a 'Strong' rating category. This upgrade maintains Mahindra & Mahindra's position as the highest-rated entity among auto original equipment manufacturers (OEMs) covered by CRISIL.

Subsidiary Performance

The reported figures include sales from Mahindra & Mahindra's subsidiary companies, Mahindra Electric Automobile Limited and Mahindra Last Mile Mobility Limited. The company noted that these figures have not been independently verified or audited.

Mahindra & Mahindra's strong performance, coupled with its improved ESG rating, reflects the company's robust growth trajectory and commitment to sustainable practices in the automotive sector.

Kotak Mahindra Bank, one of India's leading private sector banks, has recently been in the spotlight due to a significant stake sale and its latest quarterly results. The bank witnessed substantial market activity and reported financial figures that fell short of expectations.

Major Stake Sale

OppenheimerFunds, part of global investment firm Invesco, sold 1.03 crore equity shares of Kotak Mahindra Bank, representing a 0.52% stake through an open market transaction. The shares were sold at an average price of Rs 1,965.20 each, totaling Rs 2,035.36 crore. This transaction represents a significant movement in the bank's ownership structure.

Stock Performance

Kotak Mahindra Bank's stock closed 0.41% lower at Rs 1,994.20 following the news of the stake sale. The share price movement reflects the market's reaction to this substantial transaction.

Quarterly Performance

Kotak Mahindra Bank's recent quarterly results revealed a mixed financial picture:

The bank reported a 14% decline in standalone profit to Rs 3,552.00 crore compared to Rs 4,133.00 crore in the previous quarter. However, the total income increased to Rs 16,712.00 crore from Rs 15,285.00 crore year-over-year, while Net Interest Income rose 5% to Rs 7,284.00 crore.

The recent stake sale and quarterly results are likely to be closely watched by investors and analysts for their potential impact on the bank's future performance and stock price movements.