 "TVS Motor hits new high on FII buying")
Shares of twp-wheeler maker TVS Motor Company is trading higher by 3% at Rs 253, extending its 9% rally in past two days after the company said the foreign institutional investors (FIIs) stake in the company touches nine year high during September 2014 quarter.
The stock opened at Rs 248 and hit a record high of Rs 254 on BSE. A combined 2.22 million shares changed hands on the counter in first hour of trading on BSE and NSE.
FIIs have increased their stake in the company by nearly 3 percentage points to 11.64% in September quarter against 8.77% at the end of June quarter, TVS Motor Company said in a regulatory filing.
FIIs held 5.3% stake in March 2014 quarter and 2.51% at the end of September 2013 quarter, shareholding pattern data shows. FIIs had 12.59% holding in the company in June 2005 quarter.
The stock is among major outperformer so far in the current calendar year 2014 surging 233% from Rs 76 on December 31, 2013 compared to 25% rise in benchmark index S&P BSE Sensex.
The stock opened at Rs 248 and hit a record high of Rs 254 on BSE. A combined 2.22 million shares changed hands on the counter in first hour of trading on BSE and NSE.
FIIs have increased their stake in the company by nearly 3 percentage points to 11.64% in September quarter against 8.77% at the end of June quarter, TVS Motor Company said in a regulatory filing.
FIIs held 5.3% stake in March 2014 quarter and 2.51% at the end of September 2013 quarter, shareholding pattern data shows. FIIs had 12.59% holding in the company in June 2005 quarter.
The stock is among major outperformer so far in the current calendar year 2014 surging 233% from Rs 76 on December 31, 2013 compared to 25% rise in benchmark index S&P BSE Sensex.
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