TVS Motor hits 52-week high after February sales data

The company reported 6% increase in two-wheeler sales in February 2014 to 170,293 units from 160,895 units during the same month last year.

TVS Motor Company is trading higher by 4% at Rs 89 after reporting 6% year-on-year growth in two-wheeler sales in February 2014 to 170,293 units from 160,895 units during the same month last year.

The company's total exports grew by 31% with sales increasing from 21,896 units in the month of February 2013 to 28,782 units in February 2014, TVS Motor Company said in statement.

Meanwhile, during the month, the company reduced prices between Rs 850 and Rs 3,500 across its product range, having passed on the entire benefit of the recently announced excise duty reduction to its customers, it added.

The stock opened at Rs 85.90 and touched a 52-week high of Rs 89.95 on the NSE. A combined 1.04 million shares changed hands on the counter so far on the NSE and BSE.