M&M's board has approved acquiring Sumitomo Corporation's 44 per cent stake in the company at a price of ₹650 per share along with Isuzu Motors 15 per cent stake at the same price of ₹650 per share.
SML Isuzu's share price rallied 6% to ₹1,710 on reports that Ashok Leyland is in advanced talks to acquire a majority stake in the commercial vehicles company
BSE SmallCap index: Since March 18, the BSE MidCap index has advanced by 7.6 per cent (3,019 points) on the exchange, while the BSE SmallCap index has jumped 9.16 per cent (4,017 points)
According to reports, Mahindra & Mahindra is in advanced discussions to acquire the entire stake held by Japan's Sumitomo Corporation in SML Isuzu.