TVS Motor zooms over 13%; market valuation up by Rs 1,525 cr

Shares of two-wheeler manufacturer TVS Motor Company today surged over 13 per cent after the company reported 22.78 per cent increase in standalone net profit for the second quarter ended September 30, 2015.
The stock jumped 13.15 per cent to settle at Rs 276.15 on BSE. During the day, it soared 15.81 per cent to Rs 282.65.
At NSE, shares of the company zoomed 13.11 per cent to end at Rs 276.85.
The company's market valuation rose by Rs 1,525.53 crore to Rs 13,119.53 crore.
In terms of volume, 17.38 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

"TVS Motors Q2 FY16 results were significantly ahead of our estimates owing to robust operating performance," said Bharat Gianani, Sr Research Analyst - Automobile, Angel Broking.

TVS Motor today reported 22.78 per cent increase in standalone net profit at Rs 116.41 crore for the second quarter ended September 30, 2015.
The company had posted a net profit of Rs 94.81 crore during July-September quarter of previous fiscal.
Net sales of the company, on a standalone basis, was up 7.99 per cent to Rs 2,880.72 crore during the period under review as against Rs 2,667.44 crore of the same period last fiscal.

Total sales were up 0.38 per cent to 6,78,718 units during the second quarter of this fiscal as against 6,76,139 units of the same period last fiscal.