TVS Motor Company opened status quo at Rs.834 but soon jumped up to hit a new 52-week high at Rs.840. It has come off this high and is now trading in the red at Rs.827 levels.
The stock hit a new high on unconfirmed news that PE giants, TPG Capital and KKR & Co. are in talks with TVS Motor to invest at least $300 million to fund the expansion of its electric vehicle (EV) business.
The company is betting big on EVs – it is already working on a number of new platforms for EVs and recently launched the upgraded iQube electric scooter, which is sitting on an orderbook of Rs.15,000 crore. It sold 10,700 iQubes on FY21.
An e-two wheeler with BMW, EV in 5-25 kw hour range, an electric luxury superbike.