Share price of commercial vehicle manufacturer SML Isuzu slipped over 2 percent intraday on September 16 after the company decided to observe Block Closure (Chassis Division) for six days due to continued low demand in the automobile sector.
“We wish to inform you that due to continued low demand in the Automobile Sector, the Company has decided to observe Block Closure (Chassis Division) for 6 days from September 16-21, 2019 at its Manufacturing Plant (located at Village Asron, Distt. Nawanshahr). In the Bus Body Division, need-based production will continue,” the company said in the BSE filing.
In August, medium and heavy commercial vehicles sales were down 54.3 percent at 15,573 units year-on-year while light commercial vehicles sales down 28.2 percent at 36,324 units in the year-ago period, according to the Society of Indian Automobile Manufacturers (SIAM).
At 1239 hrs, SML Isuzu was quoting at Rs 605.40, down Rs 13.55, or 2.19 percent. It has touched an intraday high of Rs 617.15 and an intraday low of Rs 605.00.
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