SML Isuzu share price added nearly 2 percent in the early trade on May 2 following robust sales number for the month of April.
At 09:21am, SML Isuzu was quoting at Rs 1,550.00, up Rs 24.50, or 1.61 percent, on the BSE.
The company's total sales increased by 43.2% at 1,512 units in April 2025 against 1,056 units in the April 2024.
Company's cargo vehicles sales jumped 77.6 percent at 389 units and passenger vehicles sales rose 34.2 percent at 1123 units.
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Recently, M&M entered into an agreement to acquire a 58.96 percent stake in company at Rs 650 per share, which is an outlay of Rs 555 crore to bolster its truck and bus business. In addition, M&M will make an open offer under SEBI's takeover regulations.
As part of the transaction, M&M will acquire the entire stake of 43.96 percent held by Sumitomo Corporation, the promoter of SML, and separately also acquire 15 percent stake held by Isuzu Motors Ltd, public shareholder of SML, for an aggregate consideration of Rs 555 crore.
M&M would also launch a mandatory open offer for acquisition of up to 26 percent stake from eligible public shareholders of SML in accordance with regulations.
The share touched a 52-week high of Rs 2,406.00 and a 52-week low of Rs 1,030.90 on 23 May, 2024 and 28 February, 2025, respectively.
Currently, the stock is trading 35.58 percent below its 52-week high and 50.35 percent above its 52-week low.
The market capitalisation stands at Rs 2,243.11 crore.
The share price declined more than 31 percent in the last one-year.
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