TVS Motor extends fall on stake sale by Venu Srinivasan

Venu Srinivasan, CMD has sold 1.5 million shares of TVS Motor at Rs 298 per share between February 19 and 20.

TVS Motor Company has slipped 4% to Rs 277, extending its previous day’s 2.4% fall on NSE, after Venu Srinivasan, chairman and managing director of the company sold 1.5 million shares for about Rs 45 crore.

“Venu Srinivasan has sold 1.5 million shares representing 0.32% stake of the company at price of Rs 298 per share between February 19 and February 20,” TVS Motor Company said on February 20 in a regulatory filing.

The stock opened at Rs 290 and touched a low of Rs 276 on NSE. Till 1333 hours, a combined 2.27 million shares changed hands on the counter on NSE and BSE.