TVS motors shares rise 8 percent

By siliconindia   |   Tuesday, June 29, 2010
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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 Rs. 107, the stock touched its day high of Rs. 116.90, before closing the day at Rs. 106.80. During the day, 2.92 million TVS shares were traded in the market with the current P/E ratio of the stock at 20.08. 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 TVS Motor is expecting to double its revenue from scooter sales in the current fiscal through its newly launched vehicle `Wego' and robust market growth. Through sales from scooter segment, they are expecting revenue of Rs. 1,500 crore to Rs. 1,600 crore. They generated a revenue of around 800 crore in 2009-10 through the sale of scooters. Out of the 15 analysts following the stock, the consensus recommendation is to buy the stock with four analysts suggesting to hold it for a while, three suggesting to sell it and one recommends it for its outperformance.
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