TVS Electronics up 18% on heavy volumes, hits 52-week high in weak market
Published On: Wednesday, January 4, 2023 | By: Team KnowMyStock
Shares of TVS Electronics hit a 52-week high of Rs 344.6, surging 18 percent on the BSE in Wednesday's intra-day trade, supported by heavy volumes in an otherwise weak market.TVS Electronics Limited (TVS-E) is a leading and one of the most prominent players in the IT peripherals and consumer electronics market. Shares of the computer hardware and equipment company surpassed the previous high of Rs 333 touched on September 2, 2022. Under the purview of the Products & Solutions Group (PSG), the company designs, manufactures, assembles, sells, and services a wide variety of products, such as dot matrix printers, thermal receipt printers, label printers, mobile printers, mechanical keyboards, membrane keyboards, mouse, barcode scanner, currency counter, surveillance camera, touch POS system, handheld device, and electronic cash register, etc.
Under the purview of the Customer Support Services (CSS) business, the company provides customer support service catering to both OEMs and end customer services. These services include break-fix, repair engineering, installation, demo, protection plans, IT infra management, remote tech support, call center services, and e-waste management, among others.Meanwhile, the Ministry of Electronics and Information Technology has approved 14 applicants for the IT Hardware Products (PLI) program. The government is offering incentives of $983.76 million to manufacture these products in India over the next four years. During this period, production is expected to be worth $21.62 billion and exports to $8.06 billion.
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