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08-Sep2017

TVS Motor catches speed on acquiring entire stake in TVS MS

TVS Motor Company is currently trading at Rs. 634.00, up by 1.50 points or 0.24% from its previous closing of Rs. 632.50 on the BSE.

The scrip opened at Rs. 630.05 and has touched a high and low of Rs. 637.00 and Rs. 630.05 respectively. So far 13475 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 639.50 on 07-Sep-2017 and a 52 week low of Rs. 310.90 on 12-Sep-2016.

Last one week high and low of the scrip stood at Rs. 639.50 and Rs. 605.75 respectively. The current market cap of the company is Rs. 30068.26 crore.

The promoters holding in the company stood at 57.40%, while institutions and non-institutions held 31.31% and 11.29% respectively.

TVS Motor Company has acquired the entire stake in TVS Motor Services (TVS MS), through which Non-Banking Finance Company (NBFC) TVS Credit Services will become the subsidiary of the company. The investment in the target company would continue to benefit the company in financing its customers for the purchase of products. The company has acquired the same for Rs 4.62 crore.

TVS MS, incorporated in March 23, 2009, has recorded a turnover of Rs 24,000 in 2017, compared to Rs 37,000 in 2016 and Rs 9,54,975 in 2015, while TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.


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