TVS Motor Company surged 5.15% to Rs 97 at 11:01 IST on BSE, with the stock extending Tuesday's gain triggered by reporting turnaround Q4 results.
Meanwhile, the S&P BSE Sensex was up 194.79 points or 0.87% at 22,660.98.
On BSE, so far 4.21 lakh shares were traded in the counter as against average daily volume of 4.70 lakh shares in the past one quarter.
The stock hit a high of Rs 97.80 and a low of Rs 94 so far during the day. The stock hit a record high of Rs 101.35 on 24 March 2014. The stock hit a 52-week low of Rs 28.10 on 31 July 2013.
The stock had underperformed the market over the past one month till 29 April 2014, falling 3.61% compared with the Sensex's 0.56% rise. The scrip, however, outperformed the market in past one quarter, surging 30.11% as against Sensex's 8.81% rise.
The mid-cap company has an equity capital of Rs 47.51 crore. Face value per share is Re 1.
TVS Motor Company reported net profit of Rs 52.12 crore in Q4 March 2014 as against net loss of Rs 32.72 crore in Q4 March 2013. Net sales rose 21% to Rs 2120.77 crore in Q4 March 2014 over Q4 March 2013. The Q4 result was announced during trading hours on Tuesday, 29 April 2014, when the stock surged 6.1% to settle at Rs 92.25. Shares of TVS Motor Company gained 11.55% in two trading days from recent low of Rs 86.95 on 28 April 2014.
TVS Motor Company's net profit jumped 125.5% to Rs 261.63 crore on 11.1% growth in net sales to Rs 7857.70 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
On a consolidated basis, TVS Motor Company's net profit fell 5.8% to Rs 186.30 crore on 13.3% growth in net sales to Rs 8272.51 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
TVS Motor Company said that new launches and upgrades which the company introduced across the scooter and motorcycle segments augmented an increase in sales, aiding significant bottom line growth during FY 2014.
During the year, the company strengthened its presence in the scooter segment introducing TVS Jupiter, styled to enthuse the male customer. TVS Jupiter went on to become the most awarded scooters in India, the company said in a statement.
With regard to its future business outlook, TVS Motor said it will introduce its all new TVS StaR City+ and all new scooty: TVS Zest during the course of the year. Both products were showcased at this year's Auto expo. In addition to these new launches, the company has also planned upgrades across segments to strengthen the product portfolio. With improved product presence in various segments of the industry, TVS Motor Company expects to better its performance in the ongoing fiscal.
TVS Motor Company is one of the leading two-wheeler manufacturers in India.
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