TVS Motor Shares Edge Up on Strong May Sales

TVS Motor Company shares rose over 1 per cent to hit intraday high of Rs 239 on Tuesday after the company reported a 6 per cent rise in vehicle sales for the month of May.

TVS Motor Company reported that it sold 2,20,079 units in May as against 2,06,813 units sold during the same period last year.

Commenting on the sales numbers, domestic brokerage Nirmal Bang said, "TVS Motor continues to outperform the industry, although it witnessed moderation in sales across segments."

Total two wheeler sales were at 2,10,843 units compared to 1,97,451 units a year ago - a rise of nearly 7 per cent. In the domestic market, two-wheeler sales rose 3 per cent from 1,69,671 units in May,2014 to 1,75,533 in May 2015, the company said.

Motorcycle sales were up nearly 8 per cent at 91,344 units whereas scooter sales were up 6.7 per cent at 54,426 units.

However, TVS Motor share ended over 4 per cent lower at Rs 225.90 apiece on the BSE, as selling pressure was visible across the sectors post-RBI policy announcement.