Tvs Motor Zooms On Good Results

Shares of TVS Motor surged 10.5 per cent today in reaction to good results posted by the company. The scrip opened at Rs 440 today. It then touched a new high of Rs 494 during intra-day trading, before closing at Rs 471.75. According to market sources, the scrip witnessed heavy activity during the morning and early afternoon trades. Nearly 50,000 shares changed hands on the BSE today.

For the quarter ending March 31, 2002, the company reported a 449 per cent rise in net profit at Rs 23.30 crore, as against Rs 4.23 crore during the corresponding period of the previous year. The company also registered a 29 per cent increase in sales during the period.

 

Analysts said, the company