Sachin Bansal, a partner at Navoday Enterprises, raised his stake in SML Isuzu in the quarter ended December, the company’s latest shareholding data showed.
Bansal’s Navodya Enterprises raised its stake from 6.84 percent in the commercial vehicle maker to 11.4 percent in the December quarter, data showed. Bansal now owns 1.65 million shares of the company.
The buying from Bansal came amid SMIL Isuzu’s stock rising nearly 13 percent in the three-month period ended December.
Shares of commercial vehicle makers have been in demand owing to improvement in volumes seen by them. Demand for commercial vehicles has been boosted by the pick-up in domestic economic activity.
“In Dec’21, the uptrend in domestic CV volumes continued, supported by healthy demand for both passenger and cargo segments,” said brokerage firm Emkay Global Financial Services in a recent note.
SML Isuzu has reported a 68 percent on-year growth in unit sales to 4,706 units in April-December of the current financial year. The company’s cargo vehicles have grown 65 percent in the nine-month period ended December while passenger vehicles have risen 80 percent during the same period.
Shares of the company ended 3.2 percent higher at Rs 682 on the National Stock Exchange.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.