TVS Motor Buys TVS Supply Chain Shares for Rs 107 cr
TVS Motor Company has increased its stake in TVS Supply Chain Solutions by purchasing 67.10 lakh shares for Rs 107 crore. The deal took TVS Motor's holding in TVS SCS to 3.91%.
New Delhi, Feb 13 (PTI) TVS Motor Company on Thursday bought additional shares of TVS Supply Chain Solutions for Rs 107 crore through an open market transaction.
According to the bulk deal data available on the BSE, TVS Motor Co purchased 67.10 lakh shares, amounting to 1.52 per cent stake in TVS Supply Chain Solutions.
The shares were acquired at an average price of Rs 159.42 apiece, taking the transaction value to Rs 106.97 crore.
After the stake buy, TVS Motor Company's holding in R-Dinesh promoted TVS Supply Chain Solutions (TVS SCS) increased to 3.91 per cent from 2.39 per cent.
R Dinesh started TVS Supply Chain Solutions, formerly TVS Logistics, in 1995.
Meanwhile, Authum Investment & Infrastructure divested a 1.13 per cent stake in TVS SCS for Rs 80 crore.
The shares were picked up at an average price of Rs 160 per piece, the BSE data showed.
Shares of TVS Supply Chain Solutions fell 4.37 per cent to close at Rs 139.95 apiece on the BSE.
On Monday, TVS SCS reported a net loss of Rs 24 crore for the third quarter ended December 31, 2024, against a profit of Rs 10 crore a year ago.
However, the company's revenue for the quarter under review rose 10 per cent to Rs 2,444.6 crore compared to Rs 2,221.8 crore a year ago.
According to the bulk deal data available on the BSE, TVS Motor Co purchased 67.10 lakh shares, amounting to 1.52 per cent stake in TVS Supply Chain Solutions.
The shares were acquired at an average price of Rs 159.42 apiece, taking the transaction value to Rs 106.97 crore.
After the stake buy, TVS Motor Company's holding in R-Dinesh promoted TVS Supply Chain Solutions (TVS SCS) increased to 3.91 per cent from 2.39 per cent.
R Dinesh started TVS Supply Chain Solutions, formerly TVS Logistics, in 1995.
Meanwhile, Authum Investment & Infrastructure divested a 1.13 per cent stake in TVS SCS for Rs 80 crore.
The shares were picked up at an average price of Rs 160 per piece, the BSE data showed.
Shares of TVS Supply Chain Solutions fell 4.37 per cent to close at Rs 139.95 apiece on the BSE.
On Monday, TVS SCS reported a net loss of Rs 24 crore for the third quarter ended December 31, 2024, against a profit of Rs 10 crore a year ago.
However, the company's revenue for the quarter under review rose 10 per cent to Rs 2,444.6 crore compared to Rs 2,221.8 crore a year ago.
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