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TVS Motor dips 6% on single-digit sales growth in December

The stock dipped 6% to Rs 531, after the company reported 6% year-on-year growth in sales in December 2018, its lowest since October 2017.

SI Reporter  |  Mumbai 

TVS Apache RR 310
TVS Apache RR 310

Shares of dipped 6 per cent to Rs 531 on the BSE after the two and three- wheeler company reported a single- digit 6% year-on-year growth in in 2018. The growth was lowest since October 2017.

The company registered 4 per cent growth in two-wheeler during 2018 at 258,709 units as compared with 247,591 units, a year ago. Domestic two-wheeler registered a growth of 1 per cent from 207,739 units in 2017 to 209,906 units in December 2018.

During the third quarter of the current financial year, two-wheeler sales grew by 19 per cent, increasing from 7.99 lakh units in the third quarter of the previous year to 9.50 lakh units in the third quarter of the current year.

At 02:48 pm, was trading at Rs 533, down 5.7% on the BSE, as compared 1% decline in the S&P BSE Sensex. The trading volumes on the counter more than doubled to 3.34 million equity shares changed hands on the BSE and NSE so far.

First Published: Wed, January 02 2019. 14:51 IST