TVS Motor Company inches up on aiming to build sustained dominant play in electric vehicle segment
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TVS Motor Company is currently trading at Rs. 730.65, up by 0.20 points or 0.03% from its previous closing of Rs. 730.45 on the BSE.
The scrip opened at Rs. 725.20 and has touched a high and low of Rs. 739.00 and Rs. 724.50 respectively. So far 12798 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 793.45 on 09-Nov-2021 and a 52 week low of Rs. 495.00 on 24-Aug-2021.
Last one week high and low of the scrip stood at Rs. 749.40 and Rs. 724.50 respectively. The current market cap of the company is Rs. 34678.98 crore.
The promoters holding in the company stood at 50.81%, while Institutions and Non-Institutions held 40.48% and 8.72% respectively.
TVS Motor Company is aiming to build a ‘sustained dominant play’ in the electric vehicle segment by leveraging various government initiatives like a production-linked incentive schemes, among others. As per its annual report for 2021-22, the company has robust plans to scale up its play in the electric segment. The PLI (Production-Linked Incentive) and FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) initiatives of the government will be fully leveraged by the company and strategically build a sustained dominant play in this segment.
The industry is slated to grow rapidly and the company has robust plans for this segment. In addition, with the strategic association with BMW, the company will be exploring the joint design and development of urban EV options for the global markets. The company has created a dedicated vertical for EV segment with over 600 engineers and adopted the Centres of Competency (COCs) with an agile working approach. The company sold more than 10,000 EVs in 2021-22.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
