TVS Motor gains post May sales


TVS Motor launches new four-stroke TVS XL 100 in Tamil Nadu

  TVS Motor Company was trading higher by 2% at Rs 297 on the BSE after the company reported 11% year on year increase in total sales at 243,783 units in May 2016 against sale of 220,079 units in May 2015.

Total two-wheeler sales during the month grew 13% to 238,320 units as against 210,843 units in the same month a year ago, TVS Motor Company said in a regulatory filing.

Exports in May were down 18% at 35,545 units as against 43,595 units in the corresponding month last year.

TVS Motor said it feels the restricted availability of forex is affecting Indian exports to Africa including that of the company.

At 09:26 AM, the stock was up 1.9% at Rs 294 on the BSE compared to a marginal 0.06% decline in the S&P BSE Sensex. A combined 502,381 equity shares changed hands on the BSE and NSE so far.