TVS Srichakra surges on making investment in SG Acquisition Corporation
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TVS Srichakra is currently trading at Rs. 4130.00, up by 102.15 points or 2.54% from its previous closing of Rs. 4027.85 on the BSE.
The scrip opened at Rs. 4050.00 and has touched a high and low of Rs. 4195.00 and Rs. 4037.80 respectively. So far 982 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4,195.00 on 03-Nov-2023 and a 52 week low of Rs. 2454.15 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 4195.00 and Rs. 3787.05 respectively. The current market cap of the company is Rs. 3155.55 crore.
The promoters holding in the company stood at 45.70%, while Institutions and Non-Institutions held 3.89% and 50.41% respectively.
TVS Srichakra has made an investment in SG Acquisition Corporation, USA. Investment involves the subscription of 300 Common Shares at a price of $10,000 per Share, aggregating to a total amount of $3 million in SG Acquisition Corporation, USA. This investment grants the company 100 percent ownership of SG Acquisition Corporation, USA. Furthermore, SG Acquisition Corporation will subsequently assume and takeover assets, liabilities and business operations of Super Grip Corporation, USA.
TVS Srichakra is one of India's leading two- and three -wheeler tyre manufacturer. The company is recognised as a large manufacturer of industrial pneumatic tyres, flotation, motorgrader, farm & implement tyres, skid steer tyres, multipurpose tyres and vintage tyres.
