The company made the announcement before trading hours yesterday, 6 April 2015. The stock surged 19.97% to Rs 43.25 yesterday. The stock has risen 30.37% in two sessions from Rs 36.05 on 1 April 2015.

Meanwhile, the BSE Sensex was down 163.27 points, or 0.57%, to 28,341.19.

On BSE, so far 51,000 shares were traded in the counter, compared with an average volume of 5,916 shares in the past one quarter.

The stock hit a high of Rs 50.50 and a low of Rs 44.25 so far during the day. The stock hit a 52-week high of Rs 58.20 on 12 September 2014. The stock hit a 52-week low of Rs 13.50 on 7 April 2014.

The stock had outperformed the market over the past one month till 6 April 2015, rising 22% compared with 3.21% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.32% as against Sensex's 5.62% rise.

The small-cap company has an equity capital of Rs 18.02 crore. Face value per share is Rs 10.

TVS Electronics announced that with a view to broad base its product business, it has decided to enter into agreements and appropriate business arrangements with mobile manufacturing companies or wholesale distributors, for order fulfillment services whenever such opportunities arise. While these services could enhance revenues substantially, the net margins on such activities are expected to be very thin. The company believes that such opportunities provide good collateral business benefits for repair and warranty management services for these products in the medium to long term, the company said in a statement.

TVS Electronics is a market leader in the dot matrix printer and is well established in sale and services of point of sale products. The company is also a leader in providing warranty and repair management services to reputed brand owners in information technology, banking and mobile communications segments.

TVS Electronics reported net profit of Rs 0.16 crore in Q3 December 2014 as against net loss of Rs 0.40 crore in Q3 December 2013. Net sales rose 7.50% to Rs 68.82 crore in Q3 December 2014 over Q3 December 2013.