TVS Motor gains on acquiring additional 39.11% share capital of DriveX
TVS Motor is currently trading at Rs. 2408.50, up by 20.35 points or 0.85% from its previous closing of Rs. 2388.15 on the BSE.
The scrip opened at Rs. 2390.00 and has touched a high and low of Rs. 2413.00 and Rs. 2372.50 respectively. So far 2578 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2958.15 on 27-Sep-2024 and a 52 week low of Rs. 1873.05 on 19-Apr-2024.
Last one week high and low of the scrip stood at Rs. 2489.45 and Rs. 2372.50 respectively. The current market cap of the company is Rs. 113928.27 crore.
The promoters holding in the company stood at 50.27%, while Institutions and Non-Institutions held 41.34% and 8.40% respectively.
TVS Motor Company has completed acquisition of 7,914 equity shares of face value of Rs 10 each comprising 39.11% of the issued, subscribed and paid-up share capital of DriveX Mobility (DriveX).
Pursuant to the aforesaid acquisition, the Company’s holding in DriveX has increased to 87.38% and consequently it has become a subsidiary of the Company.
TVS Motor Company is a reputed two and three-wheeler manufacturer. TVS Motor’s strength lies in its extensive research and development, resulting in products that are industry leading in terms of innovation.