TVS Motor shares drop over 4 pc after disappointing Feb sales data

Shares of TVS Motor Company on Monday fell over 4 per cent after the firm reported a 15.39 per cent decline in total sales in February.

The stock declined 3.55 per cent to close at Rs 420.10 on the BSE. During the trade, it plunged 5.17 per cent to Rs 413.

On the NSE, it went lower by 4.29 per cent to settle at Rs 417.

TVS Motor Company on Monday reported a 15.39 per cent decline in total sales at 2,53,261 units in February this year.

The company had sold 2,99,353 units in February 2019, TVS Motor Co said in a statement.

"As planned, the company is on track to reducing dealer level BS-IV stock in the domestic market and is confident of retailing it this month," it said.

In addition, the outbreak of coronavirus (COVID-19) impacted supply of certain components for production of BS-VI vehicles. All efforts are on to normalise this at the earliest, the company said.