TVS Motor Company jumped 4.14% to Rs 37.75 at 10:49 IST on BSE on speculation the bike maker may soon announce a technology tie up with German auto firm BMW.
Meanwhile, the S&P BSE Sensex was up 14.94 points or 0.08% at 18,465.17.
On BSE, 6.45 lakh shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter.
The stock hit a high of Rs 38.35 and a low of Rs 36.85 so far during the day. The stock had hit a 52-week high of Rs 50.25 on 11 January 2013. The stock had hit a 52-week low of Rs 31.50 on 26 March 2013.
The stock had underperformed the market over the past one month till 5 April 2013, sliding 6.09% compared with the Sensex's 3.62% fall. The scrip also underperformed the market in past one quarter, declining 19.98% as against Sensex's 6.74% fall.
The small-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.
TVS Motor Company gained 18.33% in four trading days from a recent low of Rs 31.90 on 2 April 2013. The gains were triggered after the company during trading hours on 3 April 2013, reiterated that it is in talks with German auto-maker BMW's Motorcycle Division, BMW Motorrad for a technology tie up and that the company will keep the exchanges informed once finality is reached in this regard. TVS issued this clarification in reaction to media reports that the company is likely to have finalised alliance with BMW. As per reports, TVS Motor Company is likely to make the announcement of alliance with BMW today, 8 April 2013.
TVS Motor company on 1 April 2013 said it has recorded total sales of 1,67,583 units in March 2013, as against 1,82,527 units registered in March 2012. The company registered total two wheeler sales of 1,62,507 units in March 2013, as against 1,80,274 units recorded in March 2012. Domestic sales stood at 1,43,239 units in March 2013, as against 1,60,736 units in March 2012. Motorcycles recorded sales of 61,808 units in March 2013, as against 65,994 units in March 2012. Scooters registered sales of 29,261 units in March 2013, as against 39,395 units in the same month of the previous year.
The company's total exports grew 13% to 23,342 units in March 2013 over March 2012. Two wheeler exports totaled 19,268 units in March 2013, as against 19,538 units in March 2012.
The company witnessed exponential increase in the three wheeler segment with sales growing by 125% to 5,076 units in March 2013 over March 2012, TVS Motor Company said.
TVS Motor Company's net profit declined 7.2% to Rs 52.45 crore on 2% growth in net sales to Rs 1780.24 crore in Q3 December 2012 over Q3 December 2011.
TVS Motor Company is one of the leading two-wheeler manufacturer in India.
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