TVS Motor gains on signing share purchase agreement to divest entire stake in Intellicar Telematics
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TVS Motor Company is currently trading at Rs. 681.25, up by 4.95 points or 0.73% from its previous closing of Rs. 676.30 on the BSE.
The scrip opened at Rs. 676.00 and has touched a high and low of Rs. 684.20 and Rs. 674.75 respectively. So far 11752 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. 684.20 and Rs. 589.10 respectively. The current market cap of the company is Rs. 32130.14 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 has signed a share purchase agreement on May 16, 2022 with Fabric IOT (Fabric IOT) and Intellicar Telematics (Intellicar), a wholly owned subsidiary of TVS Motor, to divest the entire shareholding (100%) of TVS Motor in Intellicar to Fabric IOT as per the terms of the agreement. Post the transaction, Intellicar and its wholly-owned subsidiary, Intellicar Singapore, will cease to be subsidiaries of TVS Motor.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
