TVS Motor slides after muted sales in November

TVS Motor Company fell 2.16% to Rs 359.75 at 12:27 IST on BSE after the company reported a 0.19% decline in total sales at 2.24 lakh units in November 2016 over November 2015.

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 246.34 points, or 0.93%, to 26,313.58.

On the BSE, so far 50,000 shares were traded in the counter, compared with average daily volumes of 2.04 lakh shares in the past one quarter. The stock had hit a high of Rs 365.90 and a low of Rs 357.35 so far during the day.

The stock hit a record high of Rs 418 on 28 October 2016. The stock hit a 52-week low of Rs 256.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 8.20% compared with the 3.51% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.80% as against Sensex's 6.91% decline.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.

TVS Motor Company said that due to the demonetization exercise, the company witnessed a short-term impact on November sales. However, the company is seeing a sales pickup already happening.

TVS Motor Company's total two-wheeler sales rose 0.63% to 2.19 lakh units in November 2016 over November 2015. Scooters sales fell 3.82% to 73,135 units in November 2016 over November 2015. Motorcycles sales fell 17.36% to 67,896 units in November 2016 over November 2015.

Three-wheeler sales fell 23.55% to 5,883 units in November 2016 over November 2015.

Total exports fell 2.36% to 32,829 units in November 2016 over November 2015.

TVS Motor Company's net profit rose 33.4% to Rs 177.39 crore on 21.1% growth in net sales to Rs 3393.14 crore in Q2 September 2016 over Q2 September 2015.

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

Powered by Capital Market - Live News