Watch out for this large-cap corporation that recently purchased a 100 per cent stake in this Germany-based company. Do you own it?
The acquired company name is proposed to be changed to Celerity Motor GmbH.
TVS Motor (Singapore) Pvt Ltd (TVSM Singapore), a wholly-owned subsidiary of TVS Motors Company Ltd, has acquired a 100 per cent stake in BBT 35/22 Vermogensverwaltungs GmbH (BBT 35/22 Asset Management Ltd), a German company, becoming a subsidiary of both TVSM Singapore and TVS Motor Company Ltd.
The new company was acquired on December 6, 2022, for EURO 25,000 (INR 0.22 crore). The main purpose of the acquisition is to undertake activities related to two-wheeler & three-wheeler vehicles, including research, development, engineering, sales and service. The acquired company name is proposed to be changed to Celerity Motor GmbH (Celerity Motor Ltd).
TVS Motor Company Ltd (TVSM) has a market cap of approximately 50,000 crore and is mainly engaged in manufacturing two-wheelers and their accessories. It currently manufactures a wide range of two-wheelers and three-wheelers. Today, the stock price of TVSM soared 0.17 per cent to Rs 1,027. The company’s 52-week high was Rs 1,177 and the 52-week low is Rs 513. The company has an ROE of 18.4 per cent and a CAGR of 50 per cent in just 1 year.
Investors must keep an eye on this stock.