India's TVS Holdings hits record high after applying for RBI registration as CIC

TVS Holdings

05/12/2023 05:50

** Shares of TVS Holdings  TVSH.NS  rise as much as 4.63% to
a record high of 6,382.30 rupees 
    ** Co, which focuses on auto components manufacturing,
distribution and financial services, submits application with
the RBI for registration as core investment company (CIC)
    ** CICs have more than 90% of their assets invested in group
companies in form of equity, preference shares or convertible
bonds
    ** Once an entity is registered as a CIC, it can issue
guarantees on behalf of group companies
    ** Trading volume is 8126 shares as of 11:14 a.m. IST, 1.3x
the 30-day avg - LSEG data
    ** Including day's gains, TVSH up 65% in 2023 so far 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))