TVS Motor dips post November sales numbers
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TVS Motor Company has dipped 6% to Rs 286 on the BSE after the company reported a single digit 2.43% year on year increase in total sales at 225,401 units in November 2015. The Chennai-based company had sold 220,046 units in the same month last year.
"Incessant rains for the past three weeks in Chennai have had an adverse effect on company's production during this period. The company suffered sales loss of approximately 15,000 units due to inclement weather", TVS Motor said in a statement.
The company’s total exports declined 14.26% to 33,621 units in last month, compared to 39,215 units in the corresponding month a year ago.
At 09:24 AM, the stock was down 4% at Rs 292 on the BSE. A combined 1.11 million shares changed hands on the counter on the BSE and NSE.
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