TVS Motor's market cap nears Rs 1 trillion; stock surges 55% in 5 months

TVS Motor has entered into a Memorandum of Understanding (MoU) with Guidance, the Nodal Agency of the Government of Tamil Nadu to invest Rs 5,000 crore in 5 years

Shares of TVS Motor Company hit a new high of Rs 2,061.15 as they rallied 4 per cent on the BSE in Monday's intraday trade, in an otherwise weak market, after the company proposed to invest Rs 5,000 crore in five years in Tamil Nadu.

In an exchange filing, TVS Motor said the company has entered into a Memorandum of Understanding (MoU) with Guidance, the Nodal Agency of Government of Tamil Nadu (GoTN).

GoTN will provide facilitation and support to TVS Motors in the form of necessary infrastructural support and regulatory facilitation subject to applicable laws, the company