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TVS Motor moves up on the buzz of acquiring 14.78% stake in Ultraviolette Automotive

08 Dec 2017 Evaluate

TVS Motor Company is currently trading at Rs. 752.80, up by 4.00 points or 0.53% from its previous closing of Rs. 748.80 on the BSE.

The scrip opened at Rs. 760.00 and has touched a high and low of Rs. 760.00 and Rs. 752.40 respectively. So far 23034 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 760.00 on 08-Dec-2017 and a 52 week low of Rs. 346.00 on 28-Dec-2016.

Last one week high and low of the scrip stood at Rs. 760.00 and Rs. 711.20 respectively. The current market cap of the company is Rs. 35574.52 crore.

The promoters holding in the company stood at 57.40%, while Institutions and Non-Institutions held 31.54% and 11.06% respectively.

TVS Motor has reportedly acquired a minority stake in Bengaluru-based electric two-wheeler and energy infrastructure start-up Ultraviolette Automotive. The company has bought 14.78 per cent stake, or 6,750 equity shares of Rs 10 each for Rs 7,409 per share. The total cost of acquisition would be around Rs 5 crore.

The investment comes in line with the automaker’s efforts to bring in clean energy technology to substitute traditional fuels amid growing concerns over depleting environmental health.

Founded on December 18, 2015, Ultraviolette aims to build an ecosystem that addresses the transportation needs of an urban environment. TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.

TVS Motor Share Price

3500.45 -158.60 (-4.33%)
23-Apr-2026 16:59 View Price Chart
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