TVS Motor Company gained 1.91% to Rs 294.10 at 10:00 IST on BSE after the company said that total sales rose 11% to 2.43 lakh units in May 2016 over May 2015.
The announcement was made after trading hours yesterday, 1 June 2016.Meanwhile, the S&P BSE Sensex was down 48.79 points or 0.1% at 26,665.14.
On BSE, so far 77,980 shares were traded in the counter as against average daily volume of 2.05 lakh shares in the past one quarter. The stock hit high of Rs 296.65 and a low of Rs 292.70 so far during the day. The stock had hit a record high of Rs 340.90 on 20 April 2016. The stock had hit a 52-week low of Rs 201 on 24 August 2015. The stock had underperformed the market over the past one month till 1 June 2016, falling 9.81% compared with 4.32% gains in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 1.73% as against Sensex's 12.34% gains.
The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Rs 1.
TVS Motor Company said that total two wheeler sales increased by 13% to 2.38 lakh units in May 2016 over May 2015. Domestic two wheeler sales grew by 17.9% to 2.06 lakh units in May 2016 over May 2015. Scooters sales of the company grew by 20.2 % to 65,434 units in May 2016 over May 2015. Motorcycles sales grew by 5.6% to 96,485 units in May 2016 over May 2015. Three wheeler sales fell 40.85% to 5,463 units in May 2016 over May 2015.
The company's total exports shed 18.46% to 35,545 units in May 2016 over May 2015. Two wheeler exports sales fell 10.97% to 31,434 units in May 2016 over May 2015. TVS Motor Company feels the restricted availability of forex is affecting Indian exports to Africa including that of the company.
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TVS Motor Company's net profit rose 30.1% to Rs 117.76 crore on 15.9% growth in net sales to Rs 2776.39 crore in Q4 March 2016 over Q4 March 2015.
TVS Motor Company manufactures motorcycles, scooters, mopeds and auto rickshaws.
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