TVS Motor gains after decent MoM sales in August

TVS Motor Company rose 2.13% to Rs 360.40 after total sales rose 3.93% to 2.9 lakh units in August 2019 as against sales of 2.79 lakh in July 2019.

Meanwhile, the S&P BSE Sensex was down 465 points or 1.25% to 36,867.93.

TVS Motor Company's total sales declined 15.37% to 2.90 lakh units in August 2019 compared with 3.43 lakh units in August 2018.

The company added that the total two-wheeler registered sales declined by 16.43% to 2.75 lakh units in August 2019 as against sales of 3.30 lakh units in August 2018. The domestic two-wheeler registered sales contracted by 20.37% to 2.19 lakh units in August 2019 as against sales of 2.75 lakh units in August 2018.

TVS Motor's said that the three-wheeler sales of the company grew by 11% to 14,604 units registered in August 2019 from 13,141 units in August 2018.

The company said that its total exports grew by 6% to 69,702 units in August 2019 from 66,028 units in August 2018. The two-wheeler exports grew by 4% to 56,323 units in August 2019 from 54,388 units in August 2018.

On the BSE, 51141 shares were traded in the counter so far compared with average daily volumes of 98357 shares in the past one quarter. The stock hit a high of Rs 363.45 and a low of Rs 346.4 so far during the day.

The stock hit a 52-week high of Rs 604 on 21 Sep 2018. The stock hit a 52-week low of Rs 340.3 on 31 Jul 2019.

On a consolidated basis, the auto maker's net profit fell 5.6% to Rs 146.40 crore on 8.7% rise in the net sales to Rs 5018.34 crore in Q1 June 2019 over Q1 June 2018.

TVS Motor Company is a reputed two and three-wheeler manufacturer.

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