TVS Motor shares plunge over 7% on sluggish sales figure

Shares of TVS Motor Company today tumbled over 7 per cent, eroding Rs 1,039 crore from its market valuation, after it reported a marginal growth of 1.22 per cent in total sales for January.
TVS Motor's stock plunged 7.11 per cent to end at Rs 286.25 on the BSE. In intra-day session, it fell sharply by 7.93 per cent to Rs 283.70.
At the NSE, it slumped 7.37 per cent to end at Rs 285.50.
Tracking weakness in the stock, the company's market value fell by Rs 1,039.63 crore to Rs 13,599.37 crore.
In terms of volume, 5.89 lakh shares of the company changed hands at the BSE and over 44 lakh shares were traded at the NSE during the day.

TVS Motor Company today reported a marginal growth of 1.22 per cent in total sales at 1,88,598 units for last month.
The Chennai-based company had sold 1,86,313 units in the same month last year, TVS Motor Company said in a statement.
Total two-wheeler sales for the month also increased marginally by 1.08 per cent to 1,81,516 units as against 1,79,576 units in January 2014.