TVS Motors stock rides upward after August sales jump over 15%

By: | Updated: September 4, 2017 4:13 PM

Shares of the third-largest two wheeler maker TVS Motors jumped over 2% after the automaker reported a 15.7% rise in its sales in August at 3,17,563 units.

Total two-wheeler sales of TVS Motors rose to 3,09,146 units in August 2017 from 2,67,670 units sold in same month of last year. (Image: TVS Motors Website)

Shares of the third-largest two wheeler maker TVS Motors jumped over 2% after the automaker reported a 15.7% rise in its sales in August at 3,17,563 units. The Chennai-based company had recorded total sales at 2,74,303 units during the corresponding month of last year. The stock of TVS Motors rose as much as 2.7% to the day’s high of Rs 625 on BSE today. Total two-wheeler sales rose to 3,09,146 units in August 2017 from 2,67,670 units sold in same month of last year.

In the domestic market, sales of two-wheelers rose to 2,70,544 units from 2,38,984 units sold during same month of last year. Scooter sales in August registered at 1,14,354 units from 76,752 units sold during the same month of last year. Sales of motorcycles, however, slipped to 1,11,927 units in August 2017 as against 1,14,195 units sold same month of last year.

On exports, the company said it grew by 33.7 per cent to 45,604 units in August 2017 from 34,097 units sold during same
month of last year. Sales of two-wheeler in the overseas market grew by 34.6 per cent to 38,602 units in August 2017 from 28,686 units sold during same month of last year. On the sales of three-wheelers, the company said it grew by 26.9 per cent to 8,417 units in August 2017 from 6,633 units sold during same month of last year.

On the other hand shares of Mahindra & Mahindra fell 1.91% to the day’s low of Rs 1,323 after the automaker reported a 29.72% decrease in the exports at 2,582 units in August on Friday last week. However, the total sales went up 3.75% to
42,116 units in August. The company had sold 40,591 units in the same month last year, the company said in a statement.
In the domestic market, sales were up 7.01% at 39,534 units last month as compared to 36,944 units in August 2016.

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