Intraday winner: TVS Motor gains nearly 5 per cent

Is this the beginning of the turnaround for the two-wheeler industry?

TVS Motor Company Ltd moved up from the opening price of Rs 622 to Rs 660 as of 12:18 pm today on the BSE, gaining about 5 per cent. This 2/3 wheeler manufacturer had come out with a decent set of sales volume for January 2022. This buzzing stock has hit the list of top gainers today in S&P BSE 200 list. 

The company had sold 2.54 lakh units of total motorcycles in January 2022. That’s a growth of about 8 per cent on a monthly basis, but a decline of 8.9 per cent. The industry as a whole has been facing sales pressures for quite some time now. The rally we are witnessing currently might be the indicator of a revival that shareholders are looking for.  

A similar trend can be seen among peer companies such as Bajaj Auto (+2.8 per cent), Hero Motocorp (+3.6 per cent) which have lifted the Nifty Auto index by 1.32 per cent. For traders though, TVS Motor has been the winner. The stock has a 52-week high and low of Rs 793.45 and Rs 495.00 on the BSE.