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CNBC TV18

SML Mahindra hits 20% upper circuit after M&M approves ₹525 crore truck-and-bus unit transfer

AI Market Summary
Mahindra & Mahindra's board approved transferring its Truck & Bus Division to SML Mahindra via a ₹525 crore slump sale, consolidating group commercial vehicle operations under one listed entity. The MTBD unit generated ₹2,989 crore FY26 revenue and the deal brings employees, assets, IP, and contracts, materially expanding SML Mahindra's scale and production footprint. The stock's 20% upper circuit reflects improved asset base and synergy expectations, pending approvals.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.29%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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SML Mahindra shares rose 20% on July 29 after Mahindra & Mahindra approved transferring its Truck & Bus Division (MTBD) into the listed unit for ₹525 crore. MTBD generated ₹2,989 crore of revenue in FY26 and contributed around 2% of M&M’s consolidated operating income, according to CNBCTV18.com. After the deal, SML Mahindra is set to consolidate the group’s commercial vehicle manufacturing platform, expanding its scale in capacity and revenue.
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