TVS Motor Company has soared 5% to Rs 38.70 after reporting 16% year-on-year growth in total sales at 197,409 units during the month of September 2013 as compared to 170,097 units registered in the same month last year. The growth in last month was the highest in past several months.
The stock opened at Rs 37.40 and touched high of Rs 40.30 on BSE. A combined 4.91 million shares have already changed hands on the counter so far against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
During the month, the company strengthened its scooter portfolio with the launch of TVS Jupiter targeted at the male customer, the two-wheeler maker said in a press release.
The company's total exports grew by 47% with sales increasing from 18,818 units in the month of September 2012 to 27,577 units in September 2013, it added.
Meanwhile, the stock has outperformed the market by surging 14% since September 17 on BSE, after Venu Srinivasan, chairman and managing director of TVS Motor Company, has bought nearly 1% stake in the company through open market transaction. The benchmark S&P BSE Sensex has declined 1.6% during the same period.
The stock opened at Rs 37.40 and touched high of Rs 40.30 on BSE. A combined 4.91 million shares have already changed hands on the counter so far against an average sub one million shares that were traded daily in past two weeks on BSE and NSE.
During the month, the company strengthened its scooter portfolio with the launch of TVS Jupiter targeted at the male customer, the two-wheeler maker said in a press release.
The company's total exports grew by 47% with sales increasing from 18,818 units in the month of September 2012 to 27,577 units in September 2013, it added.
Meanwhile, the stock has outperformed the market by surging 14% since September 17 on BSE, after Venu Srinivasan, chairman and managing director of TVS Motor Company, has bought nearly 1% stake in the company through open market transaction. The benchmark S&P BSE Sensex has declined 1.6% during the same period.
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