TVS Motor gains on hopes of BMW unit tie-up

Shares in TVS Motor Co Ltd, India's fourth-biggest motorcycle company by sales, gain 5 percent on hopes of a tie-up with BMW Motorrad, the motorcycle division of Germany's BMW AG , dealers say.

The company is holding a press conference later on Monday, 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 Ltd and Bajaj Auto Ltd and Japanese rivals such as Honda Motor Co in the growing premium segment.

TVS Motor shares up 3.9 percent as of 10:06 a.m.