Stocks

SML Isuzu rises on profit growth amid slowing sector demand

Reuters | Updated on May 29, 2019 Published on May 29, 2019

SML Isuzu's shares rose as much as 6.3 per cent to ₹865.5, their biggest intraday gain since April 1. The automaker's March-quarter profit and revenue saw a rise.

At 1.20 pm, the stocks of SML Isuzu were trading higher by 3.78 per cent at ₹841.35

The company declared a dividend of ₹3 rupees/share of face value ₹10. It posted a profit growth amid slowing demand for new automobiles in India. Wholesale sales of Indian passenger vehicles are slowest in nearly 8 years, an industry body had said earlier this month

Its rival Force Motors, which reported results on Monday, saw quarterly profits fall over 35 per cent.

SML shares were are up 22.5 per cent this year, as of last close.

Published on May 29, 2019
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