SML Isuzu has surged 13% to Rs 464, its lifetime hjgh after Reliance Life Insurance Company, Axis Mutual Fund and Antique Stock Broking collectively acquired 1.78 million equity shares in car and utility vehicles maker through bulk deals on the Bombay Stock Exchange.
“Private equity firm Actis and UK-based development finance institution CDC Group have sold their entire combined 12.33% stake for Rs 73.15 crore in SML Isuzu, which was earlier known as Swaraj Mazda Ltd, a price of Rs 410 per share," the BSE data shows.
Reliance Life Insurance Company has bought one million shares, Axis Mutual Fund acquired 222,802 shares and Antique Stock Broking purchased 150,000 shares through bulk deals, while name of the buyers were not disclosed by the company.
A combined 54,462 shares have changed hands on the counter in morning deals on both the exchanges.
