Hero Motor Corps maintained its lead as the largest two-wheeler maker in the country. It has reported an increase in 18.61% in its august sales. Hero Motors Corp has sold 5,03,654 units.
The company also reported that it has managed to sell more than 25 lakh unit during the period between April to August this year. This was a growth of 21% during the same period of last year.
According to reports the target sales for the current fiscal year is 60 lakh units, and a enthusiastic sales figure will help the company achieve its target.
On the other side, its rival Bajaj Auto also declared the number of unit it has sold, sales increased by 16% on year-on-year basis to 3.83 lakh units in August.
The managing director of the company, Rajiv Bajaj isn't happy with the results. Though it saw decent rise in number of sales but it was 4% short of its target.
Bajaj was quoted by a media channel, "We would exceed that number in the month of September and October as they are the peak months for sales."
He also said that if Boxer manages to stay up to the expectations then the focus will be on Pulsar and Discover, all of them put together Bajaj Auto should be able to maintain the sales of 400,000 figure post November.
The third (listed) two-wheeler company, TVS Motor Company posted an increase of 14% in sales in August to 194,898 units on Thursday, compared to 170,735 units in the same month in the previous fiscal.
The company sold 4,714 units of three wheelers in August against 3,626 units in August of 2010 (yoy). This was a growth of 30%.
TVS Motor's export grew by 48% yoy, recording total sales of 29,984 units in August 2011. The company said that it exported 26,479 units of two wheelers in comparison with 19,028 units in August 2010, indicating an increase of 39%.
All the companies announced an upbeat sales but the most interesting statement was from Rajiv Bajaj of Bajaj Auto.
Hero Honda has been on an uptrend for the last six months, indicators such as Fast STO and MACD show the stock to be at the higher end of the movement. So there is not much up-side potential with this stock but the chances of it coming down is higher.
Bajaj Auto, the trend is similar. It is nearing its high but there is some steam left in the stock. The stock may try and break out in October or November.
Meanwhile TVS Motor Company has been range-bound since May 2011. The stock could breakout and start an uptrend. A high risk investor can set the trading position with a stop loss at Rs 45 and target of Rs 60.
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