SML Isuzu hits 52-week high after Navodya Enterprises buys stake

SML Isuzu jumped 12.68% to Rs 675.50 after Navodya Enterprises acquired 1.26 lakh equity shares of the company via bulk deal on Monday, 12 July 2021.

Navodya Enterprises fund bought 1,26,429 equity shares (or 0.87% stake) of the company at an average price of Rs 584.60 per equity share via bulk deals on the NSE yesterday, 12 July 2021.

Meanwhile, shares of SML Isuzu extended their winning run to fourth consecutive trading session. The counter gained 38.7% in four days from its previous closing low of Rs 486.9 hit on 7 July 2021. The stock hit a 52-week high of Rs 692.30 in intraday today. Shares of commercial vehicle maker are up 85% from their 52-week low of Rs 365.10 hit on 22 October 2020.

SML Isuzu is engaged in the business of manufacture of commercial vehicles and spares. The firm produces light and medium commercial vehicles. The company recorded a net loss of Rs 20.12 crore in Q4 FY21 as against a net loss of Rs 2 crore posted in Q4 FY20. Net sales declined 5% to Rs 258.44 crore in Q4 FY21 over Q4 FY20.

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