India's SML Isuzu hits record high, up 88% since Mahindra & Mahindra deal in late April

SML Mahindra

17/07/2025 10:44

** India's SML Isuzu SMLI.NS climbs 2.4% to lifetime high of 3,331.8 rupees

** Surges ~88% since late April after Mahindra & Mahindra MAHM.NS announced plan to buy a 58.96% stake

** Market is pre-empting acceleration in growth backed by new product launches with change in promoters, says Sunny Agrawal, head of fundamental equity research at SBICAPS Securities

** However, lack of liquidity in the counter could also have propped up stock, as it had less than 30,000 public shareholders as of March, according to Agrawal

** Sumitomo Corp 8053.T held 43.96% stake in SMLI, while Isuzu Motors 7202.T and Flipkart co-founder Sachin Bansal held 15% and 19.42% stake, respectively, in March

** M&M's acquisition plan triggered a mandatory open offer for additional stake of up to 26% at 1,554.6 rupees per share

 (Reporting by Vivek Kumar M)

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