Shares in TVS Motors rallied 5% after the 2-wheeler major recorded a 14 percent volume growth in sales for the month of October 2015. Sales of vehicles rose from 241,044 units in the month of October 2014 to 274,622 units in the month of October 2015.
The shares touched an intra day high of Rs 292 on the NSE on sustained buying support. Most of the auto stocks have been performing well in the last few quarters. In fact, Bajaj Auto which reported good quarterly numbers, has surged in the last few trading sessions.
The momentum is likely to continue given that sales will be boosted by the festive season.