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TVS Motor rides high ahead of Q3 result; scrip up 14%

TVS Motor rides high ahead of Q3 result; scrip up 14%
PTI
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First Published: Thu, Jan 20 2011. 12 12 PM IST
Updated: Thu, Jan 20 2011. 12 12 PM IST
Mumbai: Shares of two-wheeler manufacturer TVS Motor Company jumped 14% in early trade on the Bombay Stock Exchange (BSE), ahead of its third quarter earnings to be announced on Thursday.
Shares of TVS Motor Company started the day on a robust note and zoomed by 14% to touch an early-high of Rs70 a piece on the BSE.
However, on the National Stock Exchange (NSE), the scrip saw a moderate jump of 4.48% to quote at Rs64 during the first half of the trade.
Analysts said that hopes of impressive October-December quarter results by the company boosted the investor sentiment.
“TVS Motor is slated to announce its third quarter results. We expect the company‘s top line to grow by strong 44% year-on-year to Rs1,545 crore, led by 40% y-o-y growth in volumes and higher realisation,” Angel Broking said in a report.
Meanwhile, the BSE 30-share benchmark Sensex was trading weak at 18,841.40, down 136.92 pints at 12:10 pm.
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First Published: Thu, Jan 20 2011. 12 12 PM IST
More Topics: TVS Motors | Markets | Shares | Q3 results | BSE |