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TVS Motor Company and Group companies pledge Rs. 25 Crores to PM's Relief Fund (PM-CARES) dedicated to fight COVID-19

Posted On: 2020-03-30 10:41:48


TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers and its Group Companies TVS Credit Services Ltd, Sundaram-Clayton Ltd., and others today announced their commitment to donate Rs. 25 Crores to the PM's Relief Fund (PM-CARES) to aid the battle against COVID-19. This is in line with the company's continuous endeavour to ensure prosperous and sustainable communities. It is in addition to the ongoing activities being already undertaken through Srinivasan Services Trust, the CSR arm of the group.

"The COVID-19 pandemic marks an unprecedented time in modern history and it will require the best of humanity to overcome the battle. We applaud the Govt's strong resolve and numerous actions to fight this. Now, more than ever, it requires all of us to cooperate and support each other as a nation,' said Mr. Venu Srinivasan, Chairman, TVS Motor Company.

Srinivasan Services Trust (SST), the social arm of the group is implementing various measures ranging from manufacturing and supplying supportive equipment such as masks, to providing cooked meals to those in the frontline -- from healthcare workers to police officers. Some of the key initiatives that have already begun include:

- Making and supplying 1 Million protective face masks for essential service providers
- Deploying vehicles and disinfectants to municipalities and helping produce medical equipment
- Employing factory kitchens at the manufacturing units in Hosur, Padi and Mysuru to make pre-packed cooked meals. These will be supplied to all essential care workers in the vicinity, from police personnel, municipal staff to healthcare workers
- In Baddi, Himachal Pradesh, dry rations will be supplied to daily wage workers who have been displaced and to villagers without food supplies
- The company is evaluating collaboration with 3D printing companies to make ventilators to support the hospitals

Shares of TVS MOTOR COMPANY LTD. was last trading in BSE at Rs.304.2 as compared to the previous close of Rs. 322.05. The total number of shares traded during the day was 57994 in over 1742 trades.

The stock hit an intraday high of Rs. 332.85 and intraday low of 298.2. The net turnover during the day was Rs. 18007122.


Source: Equity Bulls

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