TVS Supply up 8%

TVS Supply Chain Solutions is in the news today; from its close of Rs.169.30, it opened today at Rs.175.05 and rose to an intraday high at Rs.182.55, up 8%. Its 52-week high is at Rs.257.95.

Yesterday after market hours, the company announced that it has entered into a new 5-year strategic contract with Daimler Truck South East Asia Pte Ltd, a Daimler Truck AG company, for Integrated Supply Chain Solutions (ISCS) service in Singapore.

This contract solidifies TVS SCS as a primary logistics partner for Daimler Truck AG, the world's largest manufacturer of commercial vehicles, Daimler Truck South East Asia conducted a thorough evaluation process before awarding TVS SCS with the opportunity to provide these new services.

This contract with Daimler is to establish a logistics solution for distributing spare parts and related items, streamline supply chain operations, servicing Daimler Truck South East Asia's distributor network, dealers, and workshops in 16 countries in the Asia-Pacific region from its strategic logistics centre in Singapore.

It will also mean efficient management of 8,000 SKUs and 65,000 order lines annually, accommodating a diverse range of parts with varying storage requirements.

TVS Supply Chain had come out with an IPO in August’23; its Rs.880 crore was subscribed 2.78x. Priced at Rs.197, it got listed at Rs.207.