TVS Motor shares zoom over 7% after buying iconic British bike brand

Shares of TVS Motor Company on Monday jumped over 7 per cent after the company said it has acquired Britain's iconic bike manufacturer Norton Motorcycles for GBP 16 million (around 153 crore).

Norton has updated its sports bike editions with a more powerful 650cc Superlight SS bikes. Photo courtesy: http://www.nortonmotorcycles.com/
Norton has updated its sports bike editions with a more powerful 650cc Superlight SS bikes. Photo courtesy: http://www.nortonmotorcycles.com/

The company's scrip advanced 7.16 per cent to 323 on the BSE.

At the NSE, it went up by 6.97 per cent to 321.95.

Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time.

The company has acquired Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries, TVS Motor Company said in a statement on Friday.

Also check these Bikes

Find more Bikes
Tvs Xl100 (HT Auto photo)
₹ 39,990 - 54,009**Ex-showroom price
Add to compare
Check latest offers
Tvs Ronin (HT Auto photo)
₹ 1.49 - 1.71 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Tvs Jupiter (HT Auto photo)
₹ 63,511 - 70,511**Ex-showroom price
Add to compare
Check latest offers
Tvs Sport (HT Auto photo)
₹ 46,375 - 64,635**Ex-showroom price
Add to compare
Check latest offers
Tvs Creon (HT Auto photo)
UPCOMING
₹ 1.20 Lakhs *Expected Price
View Details
Tvs X (HT Auto photo)
₹ 2.50 Lakhs* *Ex-showroom price
Add to compare
Check latest offers

Also Read : Coronavirus lockdown pulls TVS Motor Company sales to less than half in March

"This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally," TVS Motor Company Joint Managing Director Sudarshan Venu said in the statement.

First Published Date: 20 Apr 2020, 15:58 PM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
1% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 98 Rs. 99
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
65% OFF
Ambrane 38W Fast Car Charger with Dual Output, Quick Charge 3.0 and Power Delivery, Type-C & USB Port, Wide Compatibility for Smart Phones (RAAP C38 A, Black)
Rs. 349 Rs. 999
4% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Musk After Smoke (7.5g)
Rs. 95 Rs. 99

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.