Ashok Leyland rises on report it is in talks to acquire SML Isuzu

SML Mahindra

26/03/2025 05:38

** India's Ashok Leyland ASOK.NS rises 3% to a three-week high of 216.95 rupees

** Ashok Leyland is in talks for a complete takeover of SML Isuzu, as per a Moneycontrol report

** Ashok Leyland's board to meet on Wednesday, with analyst call scheduled after market hours for a corporate update, as per exchange disclosure

** Shares of SML Isuzu SMLI.NS rise 3.5%

** Mahindra & Mahindra MAHM.NS was also in talks with Japan's Sumitomo Corp 8053.T to buy its 44% stake in SMLI, according to a report on Monday

** Over 8.4 million ASOK shares traded on the day, surpassing six-month avg daily volume

** Analysts' avg rating on Ashok Leyland is "buy", median PT at 252 rupees, as per data compiled by LSEG

** ASOK down 1.6% YTD, while SMLI up 19.4%

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))