TVS Motor rises after launching 100cc motorcycle in Sri Lanka

TVS Motor Company was up 1.60% to Rs 424.40 at 11:40 IST on the BSE after the company said it launched 100cc economy motorcycle, TVS Sport, in Sri Lanka.

The announcement was made after market hours yesterday, 10 July 2019.

Meanwhile, the S&P BSE Sensex was up by 172.61 points, or 0.45% to 38,729.65.

On the BSE, 17,000 shares were traded in the counter so far compared with average daily volumes of 61,000 shares in the past two weeks. The stock had hit a high of Rs 428.70 and a low of Rs 417.25 so far during the day. It hit a 52-week high of Rs 604 on 21 September 2018 and a 52-week low of Rs 404.90 on 8 July 2019.

TVS Motor Company said that the mileage-efficient motorcycle boasts of new generation graphics and style.

"In Sri Lanka, where two-wheeler mobility is on a rise, TVS Sport is the ideal motorcycle to traverse long distance with excellent fuel efficiency," R. Dilip, senior vice president, international business, TVS Motor Company, said.

TVS Motor Company's net profit fell 19.2% to Rs 133.83 crore on a 9.4% rise in the net sales to Rs 4384.02 crore in Q4 March 2019 over Q4 March 2018.

TVS Motor Company is a two and three-wheeler manufacturer and is the flagship company of the TVS Group.

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