TVS Motor rises on entering into strategic partnership with Tata Power
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TVS Motor Company is currently trading at Rs. 563.20, up by 2.35 points or 0.42% from its previous closing of Rs. 560.85 on the BSE.
The scrip opened at Rs. 560.85 and has touched a high and low of Rs. 568.55 and Rs. 554.25 respectively. So far 112997 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 665.70 on 27-May-2021 and a 52 week low of Rs. 407.25 on 28-Oct-2020.
Last one week high and low of the scrip stood at Rs. 574.85 and Rs. 543.55 respectively. The current market cap of the company is Rs. 26742.65 crore.
The promoters holding in the company stood at 52.26%, while Institutions and Non-Institutions held 38.22% and 9.52% respectively.
TVS Motor Company has entered into a strategic partnership with Tata Power, one of India's largest integrated power company. As part of the MoU, the two companies agreed to drive the comprehensive implementation of Electric Vehicle Charging Infrastructure (EVCI) across India and deploy solar power technologies at TVS Motor locations. The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. This will also give the customers of TVS iQube Electric access to the widespread charging network by Tata Power through the
TVS Motor customer connect app and Tata Power EZ Charge app across India. The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers. This partnership will further help drive EV adoption in the country among two-wheeler customers who aspire to take a step in going electric.
With increasing concerns about global climate change developments, solar energy will play an important role going forward. Expanding technologies in solar energy will play a vital role in the shift towards clean energy adoption by consumers. With this intent, the two companies will also explore opportunities to use solar energy to power select TVS Motor locations in their journey towards sustainability.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
