Popular Vehicles jumps on getting nod to establish NEXA workshop in Kerala
Popular Vehicles & Services is currently trading at Rs. 159.95, up by 3.65 points or 2.34% from its previous closing of Rs. 156.30 on the BSE.
The scrip opened at Rs. 157.00 and has touched a high and low of Rs. 166.60 and Rs. 157.00 respectively. So far 15256 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 296.35 on 21-Mar-2024 and a 52 week low of Rs. 152.50 on 14-Nov-2024.
Last one week high and low of the scrip stood at Rs. 166.60 and Rs. 155.30 respectively. The current market cap of the company is Rs. 1144.16 crore.
The promoters holding in the company stood at 61.18%, while Institutions and Non-Institutions held 27.50% and 11.32% respectively.
Popular Vehicles & Services has received in-principal approval from NEXA for establishing a NEXA Workshop at an upcountry location in Kanjirappally, Kottayam District, Kerala. The company has also entered into Letter of Intent (LoI) for the workshop which will feature 4 service bays and 5 body shop bays, providing customers with a comprehensive and state-of-the-art service experience. This new facility will complement the existing NEXA Studio at Kanjirappally.
The addition of this new workshop will improve its service capabilities, helping it to achieve a higher Service-to-Sales ratio compared to industry peers & maintain its leadership position as a Maruti service provider across India, driving increased margins and contributing to its bottom-line growth.
Popular Vehicles & Services is engaged in the business of automobile dealerships in India. It provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.
