TVS Motor Company has strengthened its operations in Central America by forming a partnership with Motomundo SA, one of the largest business groups in Honduras.
As a part of this association, Motomundo SA will facilitate the sales and service of TVS products across all Motomundo stores in the country in a phased manner. Motomundo stores will start with an exclusive outlet for TVS Motor Company and will expand it to three stores in the country within a year.
Shares of TVS Motor Company slipped 6 per cent to Rs 410 on the BSE on Tuesday after the two and three-wheelers manufacturer said the outbreak of pandemic Coronavirus (COVID-19) in China will lead to 10 per cent drop in its planned production in February. The stock was trading at its lowest level since October 17, 2019.
In the past one month, TVS Motor has underperformed the market by falling 12 per cent, as compared to 3 per cent decline in the S&P BSE Sensex.
TVS Motor has reported a 26.52 per cent drop in domestic two-wheeler sales during November, to 191,222 units from 260,253 units the same month a year ago, owing to huge pressure is its scooter segment.
The company has attributed the decline to the advancing of the Diwali season by a month and the planned adjustment of BS IV stocks.
TVS Motor has reported a 25 per cent drop in domestic two-wheeler sales during the month of October 2019, at 252,684 units as compared to 338,988 units a year ago. However, the company said October sales were two per cent higher than in September, which effectively reduces stock-in-trade for BS VI transition.
Total two-wheeler sales, including exports, were down by 20 per cent to 308,161 units in October 2019 from 384,307 units a year ago.
TVS Motor Company and Bajaj Auto have settled a decade-old dispute related to patent rights for spark plugs.
The companies said they entered into a settlement agreement on Thursday to amicably settle the decade-old dispute related to alleged infringement of Bajaj's patent for digital twin spark plug ignition technology.
New Delhi: Markets regulator Sebi on Thursday asked all listed banks to make disclosures about any divergence in provisioning of bad loans beyond specified threshold within 24 hours of receiving a risk assessment report from the Reserve Bank.
The decision has been take in consultation with the Reserve Bank of India (RBI), the Securities and Exchange Board of India (Sebi) said in a circular.
Aided strongly by an one-time gain of Rs 76 crore coupled with a 7% increase in average price realisation (APR), TVS Motor Company has beaten market expectations by posting a 21% growth in its net profit for the quarter ended September 30, 2019 to Rs 255 crore, compared to Rs 211.31 crore in the same quarter last fiscal.
TVS has launched the sportier NTorq 125 Race Edition in India at Rs 62,995 (ex-showroom Delhi) just a couple of days after it was teased. The newly launched variant is dearer by Rs 3000 over the disc brake-equipped model. It gets a new full-LED headlamp - something long anticipated in the scooter since the beginning. It also gets hazard lamp function and new colour options with new graphics.
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