TVS Motor Company rises as its arm signs agreement to acquire EV-related technology, assets in Germany
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TVS Motor Company is currently trading at Rs. 1030.50, up by 4.70 points or 0.46% from its previous closing of Rs. 1025.80 on the BSE.
The scrip opened at Rs. 1030.05 and has touched a high and low of Rs. 1040.75 and Rs. 1029.45 respectively. So far 15692 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1177.00 on 19-Oct-2022 and a 52 week low of Rs. 513.00 on 07-Mar-2022.
Last one week high and low of the scrip stood at Rs. 1049.35 and Rs. 1008.00 respectively. The current market cap of the company is Rs. 49171.52 crore.
The promoters holding in the company stood at 50.81%, while Institutions and Non-Institutions held 40.25% and 8.96% respectively.
TVS Motor Company through its wholly owned subsidiary i.e. TVS Motor (Singapore) (TVSM Singapore) has signed an agreement to acquire EV-related technology and assets in Germany. TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermogensverwaltungs GmbH (name proposed to be changed to Celerity Motor GmbH). The said purchase will help strengthen the TVS’ expansion in the EV 2-wheeler market globally.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
