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TVS Motor share rises over 2% on distribution deal with Colombian firm

TVS Motor stock gained 2.40% intra day to Rs 468 againstprevious close of Rs 457.15 on BSE

twitter-logoBusinessToday.In | September 18, 2020 | Updated 17:10 IST
TVS Motor share rises over 2% on distribution deal with Colombian firm
TVS Motor Company stock stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Share of TVS Motor rose over 2% intra day after the auto firm inked a distribution partnership with a leading motorcycle  assembler  in Colombia. TVS Motor stock gained 2.40% intra day to Rs 468 against previous close of Rs 457.15 on BSE. TVS Motor Company stock stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has lost 2.5% in one year and gained 22.33% since the beginning of this year. In 10 years, the stock has risen 491%. Total 0.50 lakh shares changed hands amounting to turnover of Rs 2.30 crore on BSE.

Market cap of the firm stood at Rs 21,697  crore. The stock hit 52-week high of Rs 503 on October 31 , 2019 and 52 week low of Rs 240 on April 7, 2020.  

Later, the stock closed 0.10% lower at Rs 456 on BSE.

"TVS Motor Company, a reputed two-wheeler and three-wheeler  manufacturer  globally, today  announced  their  new  distribution  partnership with   Autotecnica   Colombiana   SAS   (Auteco   SAS),   a   leading   motorcycle   assembler   in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive to TVS Motor Company  and  create  dedicated  space  for  the  brand  in  over  600  retail  outlets.  They  will support   TVS   Motor   with   dedicated   sales,   service,   spares   and   customer   relationship management  (CRM).  Autotecnica  Colombiana SAS  will  also  provide  the  brand  with  an assembly set-up in Cartagena along with a dedicated training centre," TVS Motor said.

In Q1, the company reported a standalone net loss of Rs 139.1 crore against profit Rs 142.3 crore for April-June, 2019-20. COVID-19 severely impacted sales of the company.

Revenue on a standalone basis in the period under review declined to Rs 1,434.3 crore from Rs 4,469.8 crore in the year-ago period.

Meanwhile, Sensex and Nifty turned red by the last hour of session and closed lower on Friday, amid weak cues from global markets. Sensex ended 134 points lower at 38,845 and Nifty fell 25 points to 11,490.

Share Market Highlights: Sensex ends 134 points lower, Nifty at 11,504; Maruti, Kotak Bank, HUL top losers

Angel Broking to launch IPO on September 23, price band fixed at Rs 305-Rs 306 per share

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