TVS Motor Company gains after launching new product in Maharashtra

TVS Motor Company rose 1.42% to Rs 313.70 at 15:15 IST on BSE after the company announced the launch of its new four stroke auto-geared two wheeler, TVS XL 100 in Maharashtra.

The announcement was made during market hours today, 28 March 2016.

Meanwhile, the S&P BSE Sensex was down 407.39 points or 1.58% at 24,938.28.

On BSE, so far 2.24 lakh shares were traded in the counter as against average daily volume of 1.63 lakh shares in the past one quarter. The stock hit high of Rs 320.40, which is also a 52-week high for the stock. The stock hit a low of Rs 310 so far during the day. The stock had hit a 52-week low of Rs 201 on 24 August 2015.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Rs 1.

TVS Motor Company said that along with TVS XL Super and TVS XL Super Heavy Duty, TVS XL 100 is currently available across all TVS dealerships in Maharashtra. TVS XL is priced at Rs 28,843 ex showroom in Maharashtra.

TVS Motor Company's net profit rose 19.4% to Rs 107.70 crore on 11.9% growth in net sales to Rs 2908.83 crore in Q3 December 2015 over Q3 December 2014.

TVS Motor Company manufactures motorcycles, scooters, mopeds and auto rickshaws.

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