TVS Motor hits 52-week high after stock rises over 3%. Here’s why

TVS Motor’s Singapore subsidiary has agreed to purchase an additional 25% stake in Swiss E-Mobility Group (Holding), making it the wholly-owned subsidiary of TVS Motor (Singapore). SEMG is a Swiss e-bike platform with B2B and B2C businesses selling branded e-bikes to end consumers and B2B key accounts. TVS Motor previously acquired a 75% stake in SEMG through its Singapore subsidiary in 2022. TVS Motor’s stock has risen by 25% on a YTD basis and 79% on a yearly basis. The company’s net profit for Q4 FY23 grew 49.5% YoY.