SML Mahindra soared 8.99% to Rs 4,318.70 after the company's commercial vehicles (CV) sales jumped 12.4% to 2,393 units in March 2026 compared with 2,129 units sold in March 2025.

The vehicle manufacturer said that it has sold 1,503 units in February 2026, registering a growth of 17% from 1,288 units sold in the same period last year.

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Earlier this year, SML Isuzu shares had rallied over 20% on buyout speculation. Today’s sharp fall reflects fresh worries about valuation despite the strategic positive for the auto giant.

Mahindra & Mahindra is in discussions to acquire Sumitomo Corp's 44% stake in SML Isuzu, with the offer expected to value the company at $236 million.