TVS Motor hits 52 week high of Rs 320 a share
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TVS Motor has hit a 52-week high of Rs 320 a share in the Bombay Stock Exchange on March 28. The stock prices saw an upward trend from March 18 and went through a significant hike from March 21.
On March 21, the stock prices went up from Rs 287.6 a share to Rs 305.35 per share, before closing the day. The prices went up during the next days and has hit a 52 week high today. The stock prices were a 52 week low at Rs 201 a share on August 24, 2015, according to BSE.
On March 16, the company announced that it has made an arragement with e-commerce major Snapdeal to sell its two-wheelers online. It has also announced about the meetings it is organised with analysts and fund houses from MSD India Partners, Cartica Capital, Ventura Securities Ltd, Prabhudas Lilladher and Ward Ferry Management Ltd during the period between March 22 and 31.
In January, this year, Venu Srinivasan, Chairman of TVS Motor said that the company is expected to see big growth in motor cycle sales this year. Overall the company hopes to close the fiscal with a market share of 15.5 per cent from the current 14 per cent and next year it hopes to increase to 18 per cent.
The company is expecting to increase its market share from current seven per cent to 10 per cent, in the motorcycles, by end of this year. In the premium segment the company plans to increase market share to 22 per cent from the current 17 per cent.
It has reported a 19.4 per cent growth during the quarter ended December at Rs 107.7 crore as against Rs 90.2 crore, a year ago. The profit was in line with most of the analysts estimate. The company also reported a 11 per cent growth in revenue during the quarter at Rs 2,940 crores in the quarter under review.
The company has an agreement with global brand BMW to manufacture new range of bikes. According to earlier reports, the partners are expected to introduce the India product by 2016 and there might be two products, one under the brand of TVS and the other under the brand of BMW. The BMW-TVS partnership is looking at launching motorcycles in the sub-500 cc category.
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