TVS Motor Share Price Surges As EV Sales Prop Up Q3 Results

Shares of TVS Motor Co. surged over 5% on Tuesday after the automaker reported a 4.2% growth in the net profit for the December quarter, driven by sale of electric vehicles during the period.

TVS Motor's stock rose as much as 5.3% during the day to Rs 2,350.5 apiece on the NSE. It was trading 5.2% higher, compared to a 0.96% advance in the benchmark Nifty 50 as of 01:35 p.m.

The stock has risen 19% during the last 12 months. The total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 51.

Nineteen out of the 42 analysts tracking the company have a 'buy' rating on the stock, 13 suggest a 'hold' and 10 have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 12.4%.