Shares of two-wheeler major TVS Motor Company surged by over 8% in early trade on the bourses today after the company reported a smart growth in net profit for the quarter ended June 30.
The stock, which opened the day on a robust note, spurted by 8.61% to touch an early high of Rs 53.60 on the BSE. Similarly, on the NSE, TVS gained 8.50% to touch an early peak of Rs 53.60.
TVS Motor reported a 45.65% jump in net profit to Rs 58.80 crore for the quarter ended June 30.
The company had posted a net profit of Rs 40.37 crore for the year-ago period.
The surge in the stock was in-line with the bullish broader market trend, with the BSE benchmark index Sensex trading higher by 146.24 points at 18,343.44 at 1055 hours.
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