TVS Motor slides 6% as coronavirus outbreak set to impact February output

While the company's direct dependency on China is limited for components, some Tier II suppliers have been impacted adversely, the firm said

Shares of TVS Motor Company slipped 6 per cent to Rs 410 on the BSE on Tuesday after the two and three-wheelers manufacturer said the outbreak of pandemic Coronavirus (COVID-19) in China will lead to 10 per cent drop in its planned production in February. The stock was trading at its lowest level since October 17, 2019.

In the past one month, TVS Motor has underperformed the market by falling 12 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.

"Coronavirus has led to impact on supply of certain components for production of BS-VI