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TVS Motor shares gain 4% on block deal; Sundaram Clayton may have sold equity worth Rs 1,406 crore

Sundaram Clayton, a Chennai based TVS Group company, is likely to have sold a 5 percent stake in the company via a block deal, CNBC-TV18 reported.

June 07, 2021 / 10:19 AM IST
TVS Apache RTR 200 4V (Image courtesy: TVS)

TVS Apache RTR 200 4V (Image courtesy: TVS)

 
 
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TVS Motor Company share price over 4 percent in the morning session on June 7. The stock has been in focus because of high volume after 5 percent equity worth Rs 1,406 crore was exchanged in a block deal window.

Sundaram Clayton, a Chennai based TVS Group company, is likely to have sold a 5 percent stake in the company via a block deal, CNBC-TV18 reported.

The stock was trading at Rs 651.95, up Rs 28.55, or 4.58 percent. It has touched an intraday high of Rs 662.90 and an intraday low of Rs 640.

The scrip also witnessed a spurt in volume by more than 1.18 times and was trading with volumes of 184,302 shares, compared to its five day average of 124,584 shares, an increase of 47.93 percent.

TVS Motor Company said it will launch two new products in Iraq as part of its expansion plan in that country. The company, which opened a new showroom with sales, service and spares support in Baghdad, said it will launch its commuter motorcycle TVS StaR HLX 150 5 Gear and three-wheeler TVS King Deluxe Plus in that market.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge. FII / FPI or institutions are increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators also being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jun 7, 2021 10:19 am

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