TVS Motors up 5% on hopes of BMW tie-up

Shares in TVS Motor, India’s fourth-biggest motorcycle company by sales, gained 5 percent on hopes of a tie-up with BMW Motorrad, the motorcycle division of Germany’s BMW AG , dealers said.

The company is holding a press conference later today, where it is expected to announce a long-awaited technology sharing agreement with BMW.

BMW is likely to bring more high-end technology to TVS, allowing it to better compete with Hero MotoCorp and Bajaj Auto and Japanese rivals such as Honda Motor Co in the growing premium segment.

TVS Motor shares were up 3.9 percent as of 10:06 am.

Reuters