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TVS Motor Company Shares Slip 3% After 2.6 Million Shares Change Hands in Trade: Details

TVS Motor Shares: Shares of TVS Motor Company were trading 3 per cent lower at Rs 1,017 on the BSE in Monday’s intra-day trade on the back of heavy volume. According to data available with the BSE, at 09:15 am, around 2.6 million or 0.55 per cent of the company’s equity shares changed hands at the counter. The names of the buyers and sellers were not ascertained immediately.

In past one month, the stock of 2/3 wheelers company has underperformed the market by falling 9 per cent, as compared to 3 per cent rise in the benchmark index.

In the month of November, TVS Motor registered a 2 per cent year-on-year (YoY) growth in its total sales at 277,123 units, against 272,693 units in the same month last year. The company posted 23.5 per cent month-on-month de-growth in two-wheelers sales at 263,642 units thereby reporting lowest volume for this fiscal year (FY23).

However, TVS iQube Electric registered 10,056 units in November 2022 as against sales of 699 units in November 2021. The company registered sales of 8,103 units in October 2022. Healthy growth in TVS iQube Electric scooters was backed by the strong order books and increasing acceptance towards electric mobility. The scooter continues to delight customers with its technology and intelligent & personalised connected experience, the company said.

According to TVS Motor, though the premium motorcycle sales improved over Q1, the full demand could not be met due to the continued limited availability of semiconductors during Q2. There was a month-on-month improvement of premium motorcycle sales in Q2 and the supply constraints are expected to further ease out in Q3.

In Q2FY23, the company forayed into the premium lifestyle segment by launching TVS Ronin – the industry-first ‘Modern-Retro’ motorcycle, all new 2022 TVS Apache RTR 160 and 2022 TVS Apache RTR 180 launched with more power, ride modes and SmartXonnect. Also, the company launched TVS iQube Electric scooter in three variants that comes loaded with best-in-class on-road range of 140 km on a single charge.

As per the regulatory filing, the TVS Motor board approved the issuance of ZCDs aggregating to ₹310 crore in one or more tranches to wholly-owned subsidiary Sundaram Auto Components.

Analysts at Prabhudas Lilladher believe TVS will be able to grow ahead of the industry and sustain its momentum, led by new product launches in ICE & EV segments along with its revamped product portfolio, strong exports and premiumisation and margin protection through cost reduction efforts and price hikes.

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Source: News18