TVS Motor surges nearly 3%: Know Why

TVS Motor Company Limited experienced a robust surge of over 2%, reaching a fresh 52-week pinnacle on November 23. This marked the third consecutive day of an upward rally, following the company’s announcement of its strategic collaboration with Minh Long Motors for an entry into the vibrant Vietnamese market.

The renowned two and three-wheeler automotive giant unveiled plans to introduce a diverse range of scooters and underbone motorcycles at various price points. This move holds significant importance, representing TVS’s second major international expansion within a fortnight. Just a week prior, the company made headlines by initiating operations in Europe, commencing with France.

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In a filing to the exchange on November 22, TVS Motor disclosed its intention to capitalize on Minh Long Motors’ extensive distribution network and profound market insights. The objective is to present a selection of top-tier two-wheelers in the dynamic Vietnamese market.

As of 10:48 am, the company’s shares exhibited a 2.5% increase, trading at ₹1,776.75. TVS Motor’s forward-looking approach and strategic global ventures underscore its commitment to advancing its market presence and capturing new territories on the international stage.