TVS Motor gains after launching new motorcycle in Tanzania

TVS Motor Company rose 3.43% to Rs 149.35 at 11:39 IST on BSE after the company announced the launch of its all new motorcycle, StaR HLX 125, in Tanzania.

The company made the announcement after market hours on Thursday, 19 June 2014.

Meanwhile, the BSE Sensex was up 41.53 points, or 0.16%, to 25,243.33.

On BSE, so far 2.45 lakh shares were traded in the counter, compared with an average volume of 4.62 lakh shares in the past one quarter.

The stock hit a high of Rs 150.30 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 144 so far during the day. 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 19 June 2014, rising 18.51% compared with 3.44% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 60.80% as against Sensex's 15.43% rise.

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

Designed especially to suit riding conditions in the African continent, StaR HLX 125 is an ideal combination of power, mileage and comfort, TVS Motor Company said in a statement.

The company currently exports its StaR range, Max range, Victor range, Apache RTR 160, Apache RTR 180 and Jive to African markets. StaR HLX 125 is now being introduced in Tanzania.

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.

TVS Motor Company is one of the leading two-wheeler manufacturers in India. With presence in more than 60 countries across the globe, TVS Motor Company is the second largest exporter of two wheelers and three wheelers from India. The company has grown to be a strong brand name in Asia, Latin America and Africa with popular products in the two and three wheeler segments.

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