Venu Srinivasan, Chairman, TVS Motor and Tata Sons Board Member (Source: Kamlesh Pednekar)
Shares of TVS Motor Company surged over 5% to hit its 52-week high after the auto major posted a growth of 15.7% in sales during the month of May 2017, at 282,007 units as compared to 243,783 units sold during the month of May 2016.
The stock of the company rose as much as 5.5% to Rs 565 on the BSE. Over 1 lakh shares exchanged hands on the counter against its two-week average of 50,000 shares.
Two-wheeler sales of the company grew 15.6 per cent to 275,426 units during May, 2017, as compared to 238,320 units sales posted the same month of last year. Domestic two-wheeler sales grew by 16.3 per cent to 240,527 units from 206,886 units during May, last year.
Scooters sales of the company increased 30.9 per cent to 85,681 units as against 65,434 units and year ago. Motorcycles sales grew by 22.3 per cent to 118,014 units in May 2017, from 96,485 units in May, last year.
Exports grew by 14.3 per cent to 40,617 units from 35,545 units sold during May 2016. Two-wheeler exports grew by 11 per cent, to 34,899 units during the month as compared to 31,434 units during the same month last year.
Three-wheeler sales of the company has seen a growth to 6,581 units, a 20.5 per cent increase from 5,463 units recorded in May 2016.