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TVS Motor rallies on BMW tie-up report

Source : REUTERS
Last Updated: Mon, Jul 09, 2012 06:23 hrs
A trader speaks on phones while trading at a stock brokerage in Mumbai

Shares in TVS Motor Co Ltd gains 6.7 percent after business newspaper Mint reports the two-wheeler maker is in talks with German auto maker BMW AG's unit, BMW Motorrad, to source technological know-how to develop high-end motorcycles.

"It is correct that we are in talks with BMW," Mint quoted TVS chairman Venu Srinivasan as saying in an interview on Sunday. "We are looking at a technical contract. I will not be able to share any further detail at this moment."


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