Shares of TVS Motor Company rose by nearly 4% in morning trade on the bourses on expectations of robust fourth quarter earnings, to be announced later in the day.
Defying the sluggish broader market sentiment, the company's scrip went up by 3.76% to touch an early high of Rs 62 on the Bombay Stock Exchange (BSE).
On the National Stock Exchange also, the scrip gained 3.76% to touch a high of Rs 62.
In terms of volume, over 30 lakh shares of the company were traded on the bourses within the first two hours of trade.
Experts attributed the rise in the stock to buying by the investors as markets are expecting good quarterly earnings from the company.
Meanwhile, the BSE benchmark index Sensex was trading lower by 56.56 points at 19,235.46 at 1112 hours.