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Shares of TVS Motor Company today soared about 8 per cent after it said that the two-wheeler maker is in talks with German auto-maker BMW8217;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 per cent to Rs 39.45 on the BSE.
At the NSE,the stock surged 7.77 per cent to Rs 39.50.
TVS Motor said in a filing to the BSE today: 8220;The company is only in talks with German auto-maker BMW8217;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.8221;
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.
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