Dear Client,
As part of our ongoing commitment to ensuring the security of your online trading experience, we would like to inform you of our protocol for addressing any suspicious activities observed on your trading account
Should you notice any irregularities or suspect unauthorized access to your account, we kindly request that you take immediate action by following the steps outlined below:
Send an Email Please send an email to stoptrade@acml.in from your registered email ID. In the email, briefly outline the suspicious activity you have observed.
Phone Call Alternatively, you can call us at 07968101000 Ext: 1 from your registered mobile number. This will enable us to address your concerns promptly.
When contacting us, please ensure you provide the following details:
By providing this information, you enable us to swiftly investigate and take appropriate measures to safeguard your account.
Your security and peace of mind are of utmost importance to us, and we appreciate your cooperation in maintaining the integrity of your trading account.
M&M has also inked an agreement with Isuzu Motors, Japan, for acquiring 21,70,747 equity shares (representing 15% stake in SML Isuzu) for a total consideration of Rs 141.10 crore.
In addition M&M launched an obligatory open offer to acquire up to 26% stake of SML Isuzu from eligible public shareholders. The shares would be acquired at Rs 1,554.60 per share, which is at a discount of 12.01% to the scrip's previous close of Rs 1,766.70, dampening investor sentiment and triggering a sell-off.
M&M stated that the proposed acquisition is a step towards establishing a strong presence in the '>3.5T' CV segment, where M&M has a 3% market share today, as compared to a 52% market share in the '<3.5T' CV segment. M&M's Trucks and Buses Division has made meaningful progress over the past few years.
This acquisition will double the market share to 6%, with a plan to increase this to 10 - 12% by FY31 and 20%+ by FY36, M&M added.
Incorporated in 1983, SML Isuzu is engaged in the business of manufacturing and sale of light commercial vehicles (LCVs) and medium commercial vehicles (MCVs) in the automobile industry and has a product portfolio comprising buses, trucks, and specific application vehicles. It has a manufacturing facility located in Punjab, and a pan-India distribution network. The company reported operating revenue of Rs 2,196 crore and EBITDA of Rs 179 crore in FY24. It has profitable operations, frugal manufacturing, and strong engineering capabilities. The company reported an 80.2% decline in net profit to Rs 0.53 crore on a 14.1% decrease in net sales to Rs 331.80 crore in Q3 FY25 over Q3 FY24.
M&M said that SML offers significant potential to unlock value through synergies in cost, network, brand, manufacturing, talent, and product complementarities. The company's Trucks and Buses business has developed strengths by tapping into technology, design & innovation, and sourcing from our auto business. Together, this would be a powerful combination.
Dr. Anish Shah, Group CEO & MD of the Mahindra Group, said: The acquisition of SML Isuzu marks a significant milestone in Mahindra Group's vision of delivering 5x growth in our emerging businesses. This acquisition is aligned with our capital allocation strategy for investing in high potential growth areas which have a strong right to win and have demonstrated operational excellence.
Meanwhile, shares of M&M rose 1.70% to Rs 2911 on the BSE.
Powered by Capital Market - Live News