InvestorQ : Why was Mahindra & Mahindra among the top gainers in the Nifty on 12 June despite a huge loss reported?
sara Kunju made post

Why was Mahindra & Mahindra among the top gainers in the Nifty on 12 June despite a huge loss reported?

Answer
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3 months ago


The Index of Industrial Production (IIP) contracted by a record 55.5% in April because most of the factories had shut down operations during the nationwide lockdown. The lockdown meant that the data was not exactly comparable to previous months. MOSPI did not release the retail inflation print for May, just as it did not do for April also due to the unique situation. It only gave information on food inflation that had come in lower at 9.69% in May compared to 10.5% in the month of April. Coming back to IIP, the real culprit was manufacturing, which contracted by 64.3%. On the other hand, mining and electricity output was lower by 27.4% and 22.6% respectively. Clearly, manufacturing was the worst hit.