1 week Ago
TVS Motor Company stock is likely to grab attention in Tuesday’s trading session after the company announced the completion of its 39.11% stake acquisition in DriveX Mobility . This brings TVS Motor’s total stake in DriveX to 87.
38%, making DriveX a subsidiary of TVS Motor. “With reference to the captioned subject, we would like to inform that the Company has, today, completed the acquisition of 7,914 (Seven Thousand Nine Hundred and Fourteen) equity shares of a face value of INR 10/- each, comprising 39.11% (Thirty-Nine point One One percent) of the issued, subscribed, and paid-up share capital of DriveX from its existing shareholder, as per the details mentioned in our earlier disclosure referred to above,” said the company in an exchange filing.
No other details of the transaction have been provided by the company. DriveX Mobility, founded in April 2020 by India's first Formula 1 driver, Narain Karthikeyan, and his childhood friend, Christopher Anand Sargunam, is a digital-first auto-tech platform specializing in the procurement, refurbishment, and retailing of pre-owned multi-brand two-wheelers across India. Stock Trading Complete Guide to Stock Market Trading: From Basics to Advanced By - Harneet Singh Kharbanda, Full Time Trader View Program Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading Futures Trading Made Easy: Future & Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Algo Trading Made Easy By - Vivek Gadodia, Partner at Dravyaniti Consulting and RBT Algo Systems View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Technical Analysis Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.
com View Program The company operates through both company-owned (COCO) stores and franchisee-operated (FOFO) outlets, offering a comprehensive range of services, including the sale of spare parts, accessories, and engine oils for two-wheelers. Also read: 5 IPOs closed with strong response from investors In August 2022, TVS Motor Company acquired a 48.27% stake in DriveX's parent company, Nkars Mobility Millennial Solutions.
TVS shares have increased by 21.35% in the last year and by 18.3% on a year-to-date basis.
However, the stock has decreased by 16% in the last 3 months and 1% in the last month, according to BSE analytics. TVS Motor Company shares closed flat at Rs 2,388.15 on the BSE in the previous trading session.
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