Popular Vehicles and Services Arm to Serve as BKT Distributor in India's Kerala, Karnataka; Shares Up 3%

MT Newswires Live02-04 18:18

Popular Vehicles and Services (NSE:PVSL, BOM:544144) said its wholly owned subsidiary, Popular Auto Dealers, has signed an agreement to act as an authorized distributor for Balkrishna Industries, or BKT, in Kerala and select regions of Karnataka in India, according to a Tuesday filing on Indian bourses.

Shares of Popular Vehicles rose over 3% in Wednesday's trade.

The arrangement covers two-wheeler tires and passenger car radial or PCR segment, part of BKT's new product segments, the filing said.

The distributorship spans the entire Kerala market and select districts in Karnataka, including Bengaluru and surrounding regions, the company said.

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