TVS Motor skyrockets to new all-time high as firm expands global footprint

Shares of two-wheeler major TVS Motor Company in Thursday's trade (November 23) rallied as much as 2.63 per cent to mark their new all-time high of Rs 1,784 on the BSE. The rally in the stock was triggered after the company forayed into Vietnam.
 
In a press release late on Wednesday, the company said it has entered the Vietnamese market in collaboration with Minh Long Motor, its distribution partner. TVS Motor Company will offer a range of scooters and underbone motorcycles across multiple price points, in keeping with its commitment to responsible and sustainable mobility. The company’s entry into Vietnam is its second major global foray in two weeks. Last week, the company announced its entry into Europe, starting with France," added the company's release.
 
TVS Motor, globally recognised for its engineering, innovation, and quality, will leverage Minh Long Motor's extensive distribution network and deep market insights to offer some of the best-in-class two-wheelers in the Vietnamese market. TVS Motor products are already sold in over 80 countries spanning the geographies of Asia, Africa, and Latin America. Exports comprise nearly 25 per cent of the company’s business as of H1 FY 2023, an endorsement of the company’s high-quality, technologically superior offerings and its R&D capability.
 
In 30 days, shares of the two-wheeler have zoomed 10 per cent, while its return has been 69 per cent in the last one year.