SML Isuzu advances after decent monthly sales

SML Isuzu rose 1.76% to Rs 1,146.50 at 10:15 IST on BSE after the company said its total sales rose 16.4% to 1,021 units in December 2016 over December 2015.

The sales figures were announced after market hours yesterday, 2 January 2017.

Meanwhile, the S&P BSE Sensex was down 1.86 points or 0.01% at 26,593.59.

On the BSE, 2,111 shares were traded on the counter so far as against the average daily volumes of 12,058 shares in the past one quarter. The stock had hit a high of Rs 1,157.45 and a low of Rs 1,139.40 so far during the day.

The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 645.50 on 29 February 2016. It had outperformed the market over the past one month till 2 January 2017, advancing 3.29% compared with the Sensex's 1.39% rise. The scrip had, however, underperformed the market over the past one quarter declining 11.21% as against the Sensex's 4.56% fall.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu's net profit rose 52.4% to Rs 9.69 crore on 13.5% growth in net sales to Rs 303.08 crore in Q2 September 2016 over Q2 September 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 30 September 2016).

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