TVS Motor Gains 7% on Higher July Sales

TVS Motor shares surged nearly 7 per cent to Rs 162.50 on Monday as the company reported strong auto sales for the month of July.

The company reported 32.15 per cent year-on-year (y-o-y) growth in its July auto sales to 2.03 lakh units. On a sequential basis also its auto sales grew. TVS Motor had reported total sales of 2.02 lakh units in the month of June this year.

Its scooter sales in the month of July grew 64 per cent y-o-y to 60,619 units supported by the launch of Jupiter. Export sales of the company also grew 41 per cent y-o-y to 36,986 units in the month of July.

TVS Motor shares have touched a 52 week high of Rs 179.20 on July 24, but however the stock witnessed sharp sell-off post announcement of its first quarter results, which fell to meet analysts estimate.

As of 10.02 a.m. shares in TVS Motor traded 4.04 per cent higher at Rs 158.35 apiece compared to 0.46 per cent gain in Nifty.