TVS Motor surges on impressive sales

DALAL STREET SPIKES

Two-wheeler maker TVS Motor was in limelight surging 4.62 per cent on the back of a huge block deal of 10 lakh shares in morning trades.

The stock in the mid-afternoon trade touched a high of Rs 99.25 before closing at Rs 95.15. The stock has moved up sharply in the last two trading sessions, gaining nearly 10 per cent after the company announced impressive sale figures.

For the month of March 2004, the company reported a 11.5 per cent rise in motorcycle sales to 62,060 units (55,659 units). Month-on-month too, the company reported a 4.7 per cent rise in motorcycle sales from 59,286 units in February 2004.

However, auto analysts are cautious as future growth may not be easy for the company going ahead, because of competition from existing players""Bajaj Auto and Hero Honda and the new entrant Honda Motors which is planning to launch two bikes by the middle of this year.