Sunday, May 19, 2024
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HomeStocksTVS Motor Launches New Electric Vehicle Model: The TVS iQube Variant

TVS Motor Launches New Electric Vehicle Model: The TVS iQube Variant

On Monday, the NSE benchmark Nifty 50 index showcased resilience as it surged nearly 280 points from the day’s low, settling above the 22,100 mark, marking a gain of 0.22%. This remarkable recovery was largely spearheaded by prominent banking giants, HDFC Bank and ICICI Bank.

Sectoral Performance: Nifty Pharma Leads, Nifty Auto Lags

Analyzing the sectoral performance, it was observed that Nifty Pharma emerged as the top gainer, while Nifty Auto trailed as the worst-performing sector of the day. Despite facing substantial losses initially, Nifty Auto managed to recoup some of its losses by the end of the trading session, ultimately closing with a loss of 1.68%. Notably, several stocks within the Nifty Auto index also rebounded from their day’s lows.

Spotlight on TVS Motor Company: Catalysts for Monday’s Recovery

One particular stock that grabbed investors’ attention was TVS Motor Company. The stock showcased an impressive recovery, surging almost Rs 90 from its day’s low to end the session nearly flat. The key catalyst behind this robust recovery on Monday lies in the company’s strategic moves.

TVS iQube: Driving Sustainable Mobility Solutions

In line with its commitment to offering sustainable mobility solutions and empowering customers with diverse options, TVS Motor Company, a prominent global automaker, unveiled a new variant of the TVS iQube equipped with a 2.2 kWh battery. Concurrently, the company announced the commencement of deliveries for the TVS iQube ST, now available in two variants, 3.4 kWh and 5.1 kWh, boasting the largest battery pack in its segment. With this expansion, the TVS iQube series presents a comprehensive range of five variants, offered in a spectrum of vibrant 11 colors, solidifying its position as one of the most extensive and visually appealing EV portfolios in the market.

Commitment to Electric Vehicle Segment

As a frontrunner in sustainable mobility solutions, TVS Motor Company reaffirms its dedication to the EV segment by introducing trustworthy, innovative, and captivating products. In alignment with this vision and a commitment to making EVs accessible to all, the introduction of the new 2.2 kWh battery variant enables the TVS iQube series to commence at an introductory effective ex-showroom price of Rs. 94,999. This move aims to further reduce the total cost of ownership (TCO) for customers, enhancing the affordability and appeal of electric vehicles.

Impressive Stock Performance

Reflecting on its stock performance, TVS Motor Company has demonstrated remarkable growth, with a staggering jump of 67.17% over the past year. Moreover, over the last three years, the stock has delivered an impressive return of 236.80%, underscoring its resilience and potential for long-term investors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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