COVID-19: TVS & Sundaram Clayton pitch in Rs 30 crore

TVS Motor Company, which is a two-wheeler and three-wheeler manufacturer, along with die-caster Sundaram-Clayton Ltd (SCL), together announced spending of around Rs 30 crore for supporting the efforts to curb the spread of COVID-19.

The press release stated that the funding will be done via the social arm of TVS Motor Company and SCL, which is Srinivasan Services Trust (SST). Along with providing for the funding to help government’s efforts to control the spread of the virus, a range of measures including manufacturing and supplying supportive equipment will also be undertaken. It includes making and supplying of one million protective face masks mainly for essential service providers, deploying of vehicles and disinfectants to municipalities and also, providing for help in producing medical equipment. As part of the first phase, the company has already supplied 10 tractors fitted with disinfectant spray to Hosur Municipal Corporation in Tamil Nadu. The company will be employing factory kitchens at its manufacturing units in Hosur, Padi and Mysur in order to make pre-packed cooked meals available to essential care workers in the nearby areas as well as to municipal workers, police personnel and other healthcare workers. In Baddi area of Himachal Pradesh, dry rations is planned to be supplied to daily wage workers and villagers who are left without any food supplies.

As per the guidelines of the lockdown, the company has to shut down its offices and manufacturing facilities.

On Monday, the stock of TVS Motor Company was trading at Rs 299.60, down by 1.51 per cent or Rs 4.60 per share. The 52-week high is Rs 524.80 and 52-week low is RS 295 on BSE.

The stock of Sundaram-Clayton was trading at Rs 1530, up by 5.90 per cent or Rs 85.20 per share. The 52-week high is Rs 2,990 and 52-week low is RS 970.50 on BSE.