TVS Motor slips on profit booking

TVS Motor Company fell 1.25% to Rs 169.10 at 12:06 IST on BSE, with the stock declining on profit booking after recent upmove.

Meanwhile, the S&P BSE Sensex was down 0.87 points at 25,822.88

On BSE, so far 1.63 lakh shares were traded in the counter, compared with an average volume of 4.85 lakh shares in the past one quarter.

The stock hit a high of Rs 172.60 and low of Rs 168.25 so far during the day. The stock hit a record high of Rs 174.50 on Thursday, 3 July 2014. The stock hit a 52-week low of Rs 28.10 on 31 July 2013.

The stock had outperformed the market over the past one month till 3 July 2014, rising 30.63% compared with 3.88% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 80.64% as against Sensex's 14.73% rise.

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

Shares of TVS Motor Company had gained 20.85% in seven trading days to Rs 171.25 on 3 July 2014 from a recent low of Rs 141.70 on 24 June 2014.

TVS Motor Company recorded 23% growth in sales to 2.02 lakh units in June 2014 over June 2013. Total exports grew by 24% to 32,290 units in June 2014 over June 2013. Two wheeler exports registered a growth of 26% to 25,237 units in June 2014 over June 2013. The company made the announcement after market hours on Wednesday, 2 July 2014. The stock had gained 2.24% to settle at Rs 171.25 on Thursday, 3 July 2014.

Total two-wheeler sales increased by 23% to 1.93 lakh units in June 2014 over June 2013. Domestic two-wheeler sales registered a growth of 23% to 1.68 lakh units in June 2014 over June 2013. Scooters sales surged 46% to 56,524 units in June 2014 over June 2013. Motorcycles sales grew by 27% to 74,772 units in June 2014 over June 2013. The recently launched TVS StaR City+ has been well received in the market, TVS Motor Company said.

Three-wheeler sales rose 24% to 8,419 units in June 2014 over June 2013.

TVS Motor Company posted 23% growth in total sales to 5.84 lakh units in Q1 June 2014 over Q1 June 2013.

TVS Motor Company reported net profit of Rs 52.12 crore in Q4 March 2014 as against net loss of Rs 32.72 crore in Q4 March 2013. Net sales rose 21% to Rs 2120.77 crore in Q4 March 2014 over Q4 March 2013.

TVS Motor Company is one of the leading two-wheeler manufacturers in India. With presence in more than 60 countries across the globe, TVS Motor Company is the second largest exporter of two wheelers and three wheelers from India. The company has grown to be a strong brand name in Asia, Latin America and Africa with popular products in the two and three wheeler segments.

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