TVS Motor Increases Stake in Supply Chain Solutions Amid Market Fluctuations

TVS Motor Company has acquired an additional 1.52% stake in TVS Supply Chain Solutions for Rs 107 crore, raising its total holding to 3.91%. Despite a 4.37% fall in share prices, the company's revenue increased by 10% in the third quarter, though it reported a net loss of Rs 24 crore.

TVS Motor Company strategically boosted its investment in TVS Supply Chain Solutions, acquiring an additional 1.52% stake for Rs 107 crore. The transaction, executed at Rs 159.42 per share, elevates TVS Motor's total stake to 3.91% from the previous 2.39%.

Market fluctuations saw TVS Supply Chain Solutions' shares dip by 4.37%, closing at Rs 139.95 on BSE. In a parallel move, Authum Investment & Infrastructure offloaded a 1.13% stake in the company for Rs 80 crore.

Despite the downturn in share price, TVS Supply Chain Solutions reported a 10% revenue increase to Rs 2,444.6 crore in the third quarter, though it faced a net loss of Rs 24 crore compared to a Rs 10 crore profit the previous year.