TVS and Hero hit new highs

TVS Motor Company had closed yesterday at Rs.534.95 and today it opened higher at Rs.553, going on to hit a new high at Rs.565. It has come off the high and is now at Rs.550 levels, up around 3%. Volumes are robust, up over 5 times.

Ditto for the other two wheeler – Hero Motocorp. After having closed yesterday at Rs.3734.55, it hit a new high today at Rs.3833.95, up 3%.

Both the companies have done very well in terms of sales for the month of May. TVS Motor posted a growth of 16% in total sales during the month of May 2017, at 282,007 units v/s 243,783 units (YoY). Its three-wheeler sales rose 20.5% to 6581 unit while exports showed a good surge of 14% at 40,617 units.

Hero Moto sold 9% more units in May at 6,33,884 unit. And the other good news from the company is that it started commercial production at its manufacturing facility at its subsidiary HMCL Niloy Bangladesh, which has an installed capacity of 1.5 lakh vehicles per annum. With monsoon expected to be normal this season, the company has said that it has lined up a slew of new launches across various segments and is confident of maintaining the growth trajectory in the coming months.