Unstoppable Multibagger: July sales soar by 4 per cent, Seals the deal with new MOU!
The stock has witnessed significant buying activity as it has surged more than 255 per cent in the last three years.
On Wednesday, the shares of TVS Motor Company Limited zoomed 0.70 per cent. The company's current market capitalization is Rs 65,552.52 crore.
Today, the Company has forged a strategic partnership with Paisalo Digital Limited. This collaboration is aimed at securing funding for the Company's three-wheeler ICE & EV (Internal Combustion Engine & Electric Vehicle) segment.
By joining forces with Paisalo Digital Limited, the Company aims to enhance its financial resources and accelerate growth in the three-wheeler segment, covering both traditional internal combustion engine vehicles and emerging electric vehicles.
This partnership underscores the Company's dedication to leveraging innovative financing solutions to strengthen its position in the market.
Additionally in July 2023, TVS Motor Company registered a sales growth of 4 per cent increasing from 314,639 units in July 2022 to 325,977 units in July 2023.
The company witnessed positive growth across various segments, details below:
Total two-wheeler sales increased by 4 per cent to 312,307 units, with domestic two-wheeler sales growing by 17 per cent to 235,230 units. Motorcycle sales rose by 2 per cent to 153,942 units, while scooter sales grew by 5 per cent to 121,941 units.
TVS iQube Electric recorded impressive sales of 13,306 units in July 2023, marking significant customer acceptance and surpassing 150,000 units in total sales. Additionally, the scooter is now available in Nepal, expanding its reach to more customers.
In the international market, the Company's total exports were 89,213 units, with two-wheeler exports at 77,077 units.
Three-wheeler sales reached 13,670 units in July 2023, reflecting stable performance in this segment.
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About TVS Motor:
TVS Motor Company Ltd (TVSM) is a prominent player in the manufacturing of two-wheelers and their accessories. With a diverse product portfolio, the company is currently involved in the production of a wide range of two-wheelers and three-wheelers, catering to the needs of a broad customer base.
The stock has witnessed significant buying activity as it has surged more than 255 per cent in the last three years.
Disclaimer: The article is for informational purposes only and not investment advice.