TVS Motor shares edge up after a 6% growth in Sept sales

TVS Motor Company stock has gained around 42% so far in 2023, and has rallied 53% in the past year.

TVS Motor Company shares gained half-a-percent to Rs 1,531.10 on the NSE at 10:25am on Tuesday as the two-wheeler manufacturer reported a 6 percent year-on-year (YoY) growth in total sales to 402,553 units in September, compared to 379,011 units a year ago.

Total sales of two-wheelers surged 7 percent YoY to 386,955 units in September from 361,729 units. Domestic two-wheeler sales gained 6 percent to 300,493 units from 283,878 units sold a year ago.

Motorcycle sales registered 10 percent growth to 186,438 units sold in September as against 169,322 units last year. Scooter sales saw an 8 percent growth to 155,526 units from 144,356 units.

TVS iQube Electric sales jump 4 times

The company reported a four-fold rise in sales to 20,356 TVS iQube Electric units from 4,923 units ion the last one year. While the first 100,000-unit sales took a little over three years for the company, the run from there to 200,000 was achieved in just 10 months.

TVS Motor’s total exports registered an 8 percent growth, with sales increasing from 92,975 units in September 2022 to 100,294 units in September 2023. Two-wheeler exports recorded a growth of 11 percent, with sales rising from 77,851 units in September 2022 to 86,462 units in September 2023.

TVS Motor technicals

The TVS Motor Company stock has gained around 42 percent so far in 2023, and has rallied 53 percent in the past year. Technicals show that the relative strength index (RSI) of TVS Motor stands at 66.8, implying that it's trading neither in the overbought nor in the oversold territory.

The one-year Beta of TVS motor stands at 0.75, implying very low volatility. Shares of the two-wheeler auto major are trading higher than the 5 day, 10 day, and 20 day, 50 day, 100 day and 200 day moving averages. It has a Price to Earnings Ratio of 49, higher than its sector PE ratio of 37.26, according to Trendlyne data.

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