TVS Motor shares ascend 9 percent


TVS Motor shares ascend 9 percent
Bangalore: The TVS Motor stock was among the top gainers on a day it touched its 52 week high before ending with nearly a nine percent gain. After opening the day at 99.50, the stock touched its yearly high of 110.30, before closing the day at 107.95. During the day, over three million TVS shares were traded in the market with the current P/E ratio of the stock at 29.66. The 52 week stock price chart is on the left. TVS Motor is an India-based company that operates in the automotive vehicles segment. It manufactures a range of two-wheelers from mopeds to racing-inspired motorcycles. Motorcycles offered by the company include TVS Apache, TVS Star and TVS Flame. The Chennai-based company reported a 30.44 percent increase in two-wheeler sales in May to 1,54,667 units on the back of good growth across all segments. The company had sold 1,18,574 units in the corresponding month last year. Motorcycle sales last month rose 26.94 percent to 67,906 units from 53,495 units in the year-ago period, it added. Two-wheeler sales in the domestic market in May stood at 1,36,621 units, up 27.16 percent, over 1,07,439 units in the same month in 2009. Out of the 15 analysts following the stock, the consensus recommendation is outperform with seven analysts suggesting to buy the stock.