India's SML Mahindra hits 3-month high after posting strong quarterly results

SML Mahindra

21/07/2026 08:49

** Commercial vehicles manufacturer SML Mahindra's SMLM.NS  shares rise as much as 8.5% to 4,322.7 rupees, highest level since April 20 
** Quarterly revenue from operations rises 13.1% Y/Y, sales volumes up 10%; profit dips about 5% 
** Co says it is the second-largest player in India's Intermediate Light Commercial Vehicle bus segment, with a 26.6% market share
** It expects to launch a modern, competitive product portfolio and strengthen its presence in existing markets over FY28-FY32
** Stock holds trailing 12-months PE of 36.6 vs industry median of 27.5 
** YTD, stock up 7.3% vs 3.9% rise in shares of rival Eicher Motors EICH.NS 


 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))