TVS Motor gains after launching product in various states

TVS Motor Company gained 3.12% to Rs 305.85 at 10:25 IST on BSE after the company announced the launch of its new four stroke moped TVS XL 100 in Himachal Pradesh, Chandigarh, Punjab, New Delhi and Haryana markets yesterday, 2 June 2016.

The announcement was made after market hours yesterday, 2 June 2016.

Meanwhile, the S&P BSE Sensex was up 120.06 points or 0.42% at 26,950.78.

On BSE, so far 1.06 lakh shares were traded in the counter as against average daily volume of 2.86 lakh shares in the past one quarter. The stock hit high of Rs 307.70 and a low of Rs 298.05 so far during the day. The stock had hit a record high of Rs 340.90 on 20 April 2016. The stock had hit a 52-week low of Rs 201 on 24 August 2015. The stock had underperformed the market over the past one month till 2 June 2016, falling 6.93% compared with Sensex's 5.53% gains. The scrip had also underperformed the market in past one quarter, rising 3.13% as against Sensex's 10.73% gains.

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

TVS XL is priced at Rs 29,988 ex-showroom in Himachal Pradesh, Rs 30,281 ex-showroom in Chandigarh, Rs 29,808 ex-showroom in Punjab, Rs 30,174 ex-showroom in New Delhi and Rs 29,953 ex-showroom in Haryana.

TVS Motor Company's net profit rose 30.1% to Rs 117.76 crore on 15.9% growth in net sales to Rs 2776.39 crore in Q4 March 2016 over Q4 March 2015.

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

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