SML Isuzu in the limelight

SML Isuzu is in the limelight today morning. The stock closed yesterday at Rs.434.90, it opened higher at Rs.440.10 and going on to hit an intra day high at Rs.450. the stock remains around the same levels, up 3%.

This interest in the stock has spiked up after it reported a 11% (YoY) jump in its vehicle sales for May, up at 1285 units. The company manufactures commercial vehicles. Japanese Sumitomo Corporation owns 43.96% stake and here, FIIs have a miniscule 0.07% holding while DIIs hold more at 21.65%. The company had ended Q4FY14 with a 18% drop in net sales and net profit declining 18% too.