TVS Motor rises on buzz of tie-up with BMW

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TVS Motor Company is trading higher by 4% at Rs 38.15 on reports that the company is in talks with German auto maker BMW AG’s motorcycle division, BMW Motorrad, to source technological know-how for developing high-end motorcycles.

“In the TVS-BMW partnership, TVS could use BMW’s expertise to extend its premium bike range, where it currently has the Apache (160cc, 180cc),” the report suggests.

The company had reported a 3% year-on-year drop in its total cumulative sales for April-June period at 519,160 units against 536,130 units in the same period of previous year.

The stock of two-wheeler maker opened at Rs 37.10 and hit a high of Rs 38.55 on the National Stock Exchange (NSE). A total 2.57 million shares have already changed hands in morning trades, as against an average 2.8 million shares that were traded daily in past two weeks on both the exchanges.