TVS Motor Market Cap Crosses Rs 1 Lakh Crore For The First Time
The company's market cap stood at Rs 1.05 lakh crore at the end of the session on the NSE.
TVS Motor Co.'s market capitalisation topped the Rs 1 lakh crore mark for the first time as shares of the company hit a lifetime high on Friday.
The company's market cap stood at Rs 1.05 lakh crore at the end of the session on the NSE.
TVS Motor acquired a stake in the India Foundation for Quality Management for Rs 1.5 crore, it said on Thursday.
The Chennai-based two-wheeler maker's standalone net profit rose in the third quarter of fiscal 2024, aided by higher sales.
Its profit increased 68% to Rs 593 crore in the quarter ended December, as compared with the Rs 547 crore consensus estimate of analysts tracked by Bloomberg.
Shares of the company rose as much as 4.4% before paring gains to close 2.25% higher, as against a 0.52% advance in the NSE Nifty 50.
The stock has risen 92.94% in 12 months. Total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 70.97, which implied the stock was slightly overbought.
Of the 42 analysts tracking the company, 21 maintain a 'buy' rating, 12 recommend a 'hold', and nine suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 5%.
