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This is an archive article published on January 20, 2011

Great Q3,but TVS Motor stock up 1%

TVS Motors' stock rose 1% after shedding almost all the gains - at one time it was up 14%.

In see-saw trade,TVS Motors’ stock rose less than 1 per cent after shedding almost all the gains it recorded in intra-day,before announcing over two-fold increase in profit for the December quarter (Q3 result).

After surging as much as 14 per cent intra-day,shares of the company settled 0.98 per cent higher than its previous closing at Rs 62 on the Bombay Stock Exchange (BSE).

Similarly,on the National Stock Exchange,the scrip witnessed a marginal gain of 0.90 per cent to close at Rs 61.80.

The Chennai-based company today reported a net profit of Rs 55.75 crore,against Rs 23.54 crore in the year-ago period.

Analysts called the results in-line with the market expectations,adding that the good numbers also helped in bolstering the mood on Dalal Street.

The BSE benchmark Sensex,after a highly volatile session,finished the day at 19,046.54,up 68.22 points from previous close.

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