TSIL has acquired 2,14,285 equity shares of TVSSPL, with a face value of Rs 10 each for a total consideration of Rs 6 crore.
The investment aims to improve efficient working capital management and support the growth plans of TVSSPL.
TVS Srichakra, the manufacturer of Eurogrip, TVS Eurogrip and TVS Tyres brands of tyres is one of India’s leading manufacturers and exporters of two, three-wheeler tyres and off-highway tyres.
The company’s consolidated net profit jumped 92.8% to Rs 12.88 crore on 3.6% increase in net sales to Rs 819.41 crore in Q1 FY26 over Q1 FY25.
The counter shed 0.19% to settle at Rs 2838.05 on the BSE.
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