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TVS Motor nears 52-week high post August sales

 

TVS launches new edition of 2016 TVS StaR City

  TVS Motor Company was up nearly 4% to Rs 340 on the BSE in early morning trade after the company reported 20% year on year (YoY) growth in total sales at 274,303 units during the month of August 2016. The two & three-wheeler maker sold 274,303 units in the same month of last year.

“Two wheeler sales of the company increased by 23.5% to 267,670 units during the month from 216,781 units recorded in August 2015. Domestic two wheeler sales grew by 30.1% to 238,984 units in August 2016 from 183,653 units in the same month of last year,” TVS Motor said in a press release.

TVS Motor Company had posted 14% YoY sales growth in July 2016, and 11% YoY growth each in May and June, 2016.

At 09:35 am, the stock was up 2.7% at Rs 336 on the BSE, as compared to 0.24% rise in the S&P BSE Sensex. It trading near to its 52-week high of Rs 341 touched on April 20, 2016 in intra-day trade.

A combined 979,048 shares changed hands on the counter on the BSE and NSE so far.