TVS Motor Company jumped 6.77% to Rs 144.25 at 14:34 IST on BSE after a foreign brokerage upgraded its rating on the stock to buy from underperform with a target of Rs 200 per share.
Meanwhile, the BSE Sensex was down 158.31 points, or 0.62%, to 25,362.88.
On BSE, so far 10.62 lakh shares were traded in the counter, compared with an average volume of 4.54 lakh shares in the past one quarter.
The stock hit a high of Rs 147.60 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 138 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 17 June 2014, rising 16.47% compared with 5.80% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 56.18% as against Sensex's 17.02% rise.
The mid-cap company has an equity capital of Rs 47.51 crore. Face value per share is Re 1.
The brokerage feels that TVS Motor is best positioned to grow in volume with its launches lined up this year supporting better operating ratios and healthier balance sheet.
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.
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