Shares of two-wheeler major TVS Motor Company surged by over 8 per cent in early trade on the bourses on Monday after the company reported a smart growth in net profit for the quarter ended June 30.
The stock, which opened the day on a robust note, spurted by 8.61 per cent to touch an early high of Rs 53.60 on the BSE. Similarly, on the NSE, TVS gained 8.50 per cent to touch an early peak of Rs 53.60.
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TVS Motor reported a 45.65 per cent jump in net profit to Rs 58.80 crore for the quarter ended June 30.
The company had posted a net profit of Rs 40.37 crore for the year-ago period.
The surge in the stock was in-line with the bullish broader market trend, with the BSE benchmark index Sensex trading higher by 146.24 points at 18,343.44 at 1055 hours.