TVS Motor surges on strong July sales

The stock surged 5% to Rs 160 after reporting 32% growth in vehicle sales at 203,902 units in July 2014, driven by scooters, which rose by 64%.

TVS Motor Company has surged 5% to Rs 160 after reporting 32% year-on-year growth in vehicle sales at 203,902 units during the month of July 2014, driven by scooters, which rose by 64%. The two-wheelers maker had recorded sales of 153,676 units in the month of July 2013.

Total two wheeler sales increased by 32% from 146,671 units recorded in July 2013 to 194,128 units in July 2014. Domestic two wheeler sales grew by 30% increasing from 126,531 units in July 2013 to 164,571 units in July 2014.

Scooters sales of the company grew by 64% increasing from 36,900 units in July 2013 to 60,619 units in July 2014. Motorcycles sales grew by 33% increasing from 57,886 units in the month of July 2013 to 76,767 units in July 2014, TVS Motor said in a statement.

The stock opened at Rs 158 and touched a high of Rs 163 on NSE. A combined 1.33 million shares changed hands on the counter so far on NSE and BSE.