SML Isuzu shares in focus as August sales nosedive 15%
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Shares of SML Isuzu may be in focus on Tuesday, September 9, after the automaker reported a sharp decline in domestic sales and exports for August, even as production showed an uptick. The company posted a 15% year-on-year drop in sales, with volumes falling to 815 units from 932 in the same month last year. Exports halved to 27 units from 58 in August 2024. Production, however, rose 7% to 1,045 units, the company said in a regulatory filing on September 8. The update comes as the commercial vehicle maker prepares to rebrand itself as SML Mahindra. The board has approved the name change, with final clearances awaited from shareholders and regulators. The identity shift follows Mahindra & Mahindra’s move earlier this year to acquire a majority stake from promoters Sumitomo and Isuzu at Rs 650 per share. M&M later launched an open offer to raise its stake by an additional 26% at Rs 1,554.6 per share, a deal cleared by the Competitio...