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TVS Srichakra soars on launching brand ‘TVS Eurogrip’

TVS Srichakra is currently trading at Rs. 1672.70, up by 30.90 points or 1.88% from its previous closing of Rs. 1641.80 on the BSE.

The scrip opened at Rs. 1672.70 and has touched a high and low of Rs. 1672.70 and Rs. 1672.70 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2956.90 on 03-Sep-2018 and a 52 week low of Rs. 1470.00 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 1682.70 and Rs. 1602.00 respectively. The current market cap of the company is Rs. 1257.13 crore.

The promoters holding in the company stood at 45.36%, while Institutions and Non-Institutions held 7.09% and 47.54% respectively.

TVS Srichakra has launched the brand ‘TVS Eurogrip’ targeted at meeting the needs of the millennial customer. The company is born out of extensive consumer research and significant investments in global R&D, design and technology platforms.

The company is aiming that the introduction of TVS Eurogrip will fuel its growth aspirations and carve a specialist positioning that will help strengthen its partnerships with vehicle manufacturers and create new benchmarks in the replacement market.

TVS Srichakra is engaged in the business of tyre manufacturing. The company provides a complete range of two- and three-wheeler tyres and tubes catering to the domestic market and industrial pneumatic tyres, farm and implements tyres, skid steer tyres, multipurpose tyres, floatation tyres, etc.