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“The stock has recently witnessed a trendline breakout above Rs 2,240 levels and with bullish candlestick pattern witnessed, the trend has improved and further upward move is anticipated with indicators beginning to get stronger,” Vaishali Parekh- Vice President - Technical Research, Prabhudas Lilladher, said.

As of 30-Jun-2022, promoters held 51.31 per cent stake in the company, while FIIs held 16.13 per cent and domestic institutional investors had 4.27 per cent.

“There are companies which are looking at automation and automatic transmission for the Indian market, now this is a very niche area, and we believe somewhere down the line three, five years probably all the passenger vehicles would be automatic. We are looking at a very niche way to identify great businesses and great companies which are available with our margin of safety.”

U.S. Treasury yields fell overnight after data showed the economy contracted again in the second quarter, suggesting that the Federal Reserve may not need to be so aggressive to cool inflation.

TVS Motor Company Ltd., incorporated in the year 1992, is a Large Cap company (having a market cap of Rs 43555.99 Crore) operating in Auto sector.

The stock quoted a 52-week high price of Rs 3048.0 and a 52-week low of Rs 860.2.

A total of 24,365 shares changed hands on the counter till 10:35AM (IST)

Stocks that were in focus include names like Bajaj Finance which rallied more than 10 per cent, Bajaj Finserv also closed with gains of more than 10 per cent post Q1 results, and Bharat Dynamics closed with gains of more than 7 per cent on Thursday.

Shares of ABM Knowledgeware (Rs 1.25 per share), MRF (Rs 144 per share), Praj Industries (Rs 2.7 per share), Hawkins Cookers (Rs 60 per share) and TCI Express (Rs 2 per share) had announced final dividend. The stocks went ex-dividend on Wednesday.

"Clearly, July is seeing some form of bottoming out, with a strong dollar induced, lower commodity prices putting natural brakes on inflation and thus accelerating hopes that economies will bottom out faster. This has resulted in interest in good smallcaps as also sectors like pharma and auto where we are seeing buying interest."