TVS Motor Company surges on subscribing 28.57% stake in IFQM
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TVS Motor Company is currently trading at Rs. 2157.00, up by 64.20 points or 3.07% from its previous closing of Rs. 2092.80 on the BSE.
The scrip opened at Rs. 2117.85 and has touched a high and low of Rs. 2163.90 and Rs. 2102.95 respectively. So far 7020 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2,163.90 on 16-Feb-2024 and a 52 week low of Rs. 1019.90 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2163.90 and Rs. 2017.00 respectively. The current market cap of the company is Rs. 99426.23 crore.
The promoters holding in the company stood at 50.27%, while Institutions and Non-Institutions held 41.06% and 8.67% respectively.
TVS Motor Company has subscribed to 28.57% stake in Indian Foundation for Quality Management (IFQM) by way of newly issued shares of IFQM. The investment is in line with the company’s commitment to improve the quality of Indian products and services and increase the exports, thereby boosting India's GDP growth and enhance India's global trade share and its image as a quality provider. IFQM will complete the allotment of shares on or before April 15, 2024 i.e. within 60 days of receipt of subscription amount.
TVS Motor Company is a reputed two and three-wheeler manufacturer.
