TVS Motor drops on profit booking

TVS Motor Company fell 1.46% to Rs 77.80 at 11:54 IST on BSE, with the stock declining on profit booking after steep recent gain.

Meanwhile, the BSE Sensex was up 29.09 points, or 0.14%, to 21,172.10

On BSE, so far 5.22 lakh shares were traded in the counter compared with average volume of 3.83 lakh shares in the past one quarter.

The stock hit a high of Rs 80.50 and a low of Rs 77.10 so far during the day. The stock hit a 52-week high of Rs 81.40 on Monday, 30 December 2013. The stock hit a 52-week low of Rs 28.10 on 31 July 2013.

The stock had outperformed the market over the past one month till 30 December 2013, rising 43.81% compared with the Sensex's 1.69% rise. The scrip had also outperformed the market in past one quarter, gaining 114.54% as against Sensex's 9.10% rise.

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

Shares of TVS Motor Company had surged 22.97% in two trading days to Rs 78.95 on 30 December 2013 from a recent low of Rs 64.20 on 26 December 2013.

TVS Motor Company's net profit jumped 96.6% to Rs 88.84 crore on 18% increase in total income to Rs 2026.35 crore in Q2 September 2013 over Q2 September 2012. The company reported an exceptional gain of Rs 30.28 crore in Q2 September 2013 on divestment of its majority stake in TVS Energy.

TVS Motor Company is one of the leading two-wheeler manufacturer in India.

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