TVS Motor Company gains as its arm planning to acquire 25% stake in Killwatt GmbH

TVS Motor Company is currently trading at Rs. 1089.00, up by 4.60 points or 0.42% from its previous closing of Rs. 1084.40 on the BSE.

tvs motor company shines on reporting 15 rise in q2 consolidated net profit
TVS Motor

The scrip opened at Rs. 1085.15 and has touched a high and low of Rs. 1099.15 and Rs. 1083.60 respectively. So far 4782 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1177.00 on 19-Oct-2022 and a 52 week low of Rs. 589.10 on 12-May-2022.

Last one week high and low of the scrip stood at Rs. 1099.15 and Rs. 1022.60 respectively. The current market cap of the company is Rs. 51639.59 crore.

The promoters holding in the company stood at 50.27%, while Institutions and Non-Institutions held 41.30% and 8.43% respectively.

TVS Motor Company’s subsidiary — TVS Motor (Singapore) has agreed to acquire 25% stake in Killwatt GmbH by way of newly issued shares of Killwatt GmbH. Killwatt presents great potential which has been conceptualised by the company. This acquisition is aligned with the company’s larger vision of becoming a leading player in the e-personal mobility space and providing customers with sustainable mobility solutions, and it complements the company’s other recent acquisitions.

TVS Motor Company considers Killwatt as a long-term partner to establish a strong presence in the e-mobility business. To this end, TVS Motor has obtained a minority stake in Killwatt through its Singapore Subsidiary TVS Motor (Singapore) Pte Ltd, by way of subscription to newly issued shares of Killwatt GmbH.

TVS Motor Company is a reputed two and three-wheeler manufacturer.

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