TVS Motor stock up about 8% on BMW tie-up talks | autos | Hindustan Times
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TVS Motor stock up about 8% on BMW tie-up talks

autos Updated: Jul 09, 2012 12:29 IST

PTI
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Shares of TVS Motor Company today soared about 8% after it said that the two-wheeler maker is in talks with German auto-maker BMW's unit, BMW Motorrad, to source technological know-how.

The company plans to develop high-end motorcycles.

Paring initial losses, shares of the company gained ground following the buzz and jumped 7.78% to Rs 39.45 on the BSE.

At the NSE, the stock surged 7.77% to Rs 39.50.

TVS Motor said in a filing to the BSE today: "The company is only in talks with German auto-maker BMW's Motorcycle division, BMW Motorrad for a technology tie-up. However, nothing has been firmed up as yet. The company will keep the exchanges informed once finality is reached in this regard."

Rally in the stock, however, outperformed the weak broader market, where the Sensex was trading at 17,387.36, down 133.36 points at 1158 hrs.