TVS Motor zooms over 30% in seven days

The stock has rallied 31% in past seven days as compared to less than 5% rise in benchmark index and auto sector index.

TVS Motor Company has moved higher by 5% at Rs 48.10, extending its past one week rally on BSE, on hopes of  increase Its market share in the scooters segment with the launch of Jupiter.

The company, which has about 15% market share in the scooters segment, is confident of increasing it by 4 to 5% with the launch of Jupiter, the first product targeting male segment.

TVS Motor Company is aiming to achieve a sale of 50,000 units of its entire scooter portfolio from around 35,000 units in a month, within a year. Jupiter would help the company add about 15,000 to 16,000 units to its total sales; the PTI report suggests quoting a top company official.

Meanwhile, the stock has outperformed the market by surging 31% from Rs 36.80 on September 30, after the company reported 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 BSE benchmark index S&P BSE Sensex and auto sector index has gained less than 5% each during the same period.

The company said its 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.

The stock opened at Rs 46 and touched high of Rs 48.55 on BSE. A combined 2.37 million shares have changed hands on the counter on BSE and NSE.