TVS Motor Company hits 52-week high

TVS Motor Company was trading higher by nearly 3% at Rs 313, extending its previous day’s 6% rally on the BSE, on back of heavy volumes.

The stock of two-three wheeler maker hit 52-week high of Rs 315 on the BSE in intra-day trade today. It quoting nears to its lifetime high of Rs 322 touched on January 19, 2015.

The trading volumes on the counter more than doubled with a combined 2.77 million shares changed hands on the BSE and NSE till 12:15 PM.

TVS Motors in last week had entered into a partnership with Snapdeal to sell the motorcycles and scooters online.

The company had launched its new four strokes TVS XL 100 in Madhya Pradesh, Andhra Pradesh and Telangana during the current month.

Management has re?iterated its target of aiming for profitable growth, but in the near?term, the focus would be on gaining market share. Ahead, new products, particularly from the BMW JV, can provide an additional trigger, brokerage house Prabhudas Lilladher said in a report.

Despite intense competition and constrained demand for the industry, TVS was an outperformer in FY15 as well as in Q3FY16 (among the listed peers). Benefits of lower commodity prices on a year-on-year basis would also be present in H2 (October-March), Prabhudas Lilladher analyst Rohan Korde said in a report dated January 29, 2016.