SML Isuzu in top gear

SML Isuzu is looking very positive today morning. The stock opened over Rs.40 higher at Rs.1285 and went on to Rs.1346.35 and is now above Rs.1300 levels, up over 5%. Its 52-week high is at Rs.1670.

The stock is up as the market is enthused with its sales numbers for month of September. The company announced that it has sold 1032 vehicles during September, 2015 against 864 vehicles sold in September, 2014. In August’15, it has sold 900 vehicles. Thus YoY as well as MoM, the company has posted higher sales and the market is enthused with this fact, especially in the background that almost all other auto companies reported a decline in sales for Sept.

SML Isuzu was formed in 2010 from the Swaraj Mazda company after Mazda pulled out of the venture. The name ‘Swaraj’ was sold to Mahindra when the tractor division, Punjab Tractors was sold off. Today, it makes buses, tempos and trucks. Currently Sumitomo Corporation of Japan holds 43.96% and Isuzu Motors of Japan holds 15%.