This leading two-wheeler manufacturer acquired EV-related technology assets in Germany!

The stock of the company rises after the announcement.

TVS Motor Company has informed in the exchange filing that the company, through its wholly-owned subsidiary TVS Motor (Singapore). TVSM Singapore has signed an agreement to acquire EV-related technology and assets in Germany. TVS Singapore will be acquiring the assets through its subsidiary BBT 35/22 Vermögensverwaltungs GmbH (name proposed to be changed to Celerity Motor GmbH). The said purchase will help strengthen the TVS’ expansion in the EV 2-wheeler market globally. 

TVS motors company is engaged in manufacturing of two-wheelers. It is the second largest exporter in India with exports in over 60 countries, and the third largest two-wheeler company in India with a revenue of Rs 18,217 crore. The popular offerings of the company include TVS Jupiter 125, TVS Ntorq, TVS Zest 110, and TVS Scooty pep+. 

Today, the stock opened at Rs 1030.05, with a high and low of Rs 1040.75 and 1029.45. The stock previously closed at Rs 1025.80. Currently, it is trading at Rs 1031.00, down by 0.51 per cent.   

In the last six months, the shares of the company have given 34.91 per cent returns and on a YTD basis, the stock has given 63.85 per cent returns. 

The stock has a 52-week high of Rs 1177.00 and a 52-week low of Rs 513. The company has a ROCE of 11.3 per cent and an ROE of 18.4 per cent, with a market capitalization of Rs 49.981.48 crore.