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TVS Motor Shares Fall 5% As Chennai Rains Affect Sales

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Shares in TVS Motor Company fell as much as 5 per cent as sales of the company have been hit by rains in Chennai.

TVS Motor Shares Fall 5% As Chennai Rains Affect Sales
TVS Motor Company: Quotes, News
BSE 423.60BSE Quote6.65 (-1.57%)
NSE 423.55NSE Quote6.95 (-1.64%)
Ashok Leyland: Quotes, News
BSE 86.40BSE Quote0.9 (1.04%)
NSE 86.35NSE Quote0.9 (1.04%)
The company reported a 2.43 per cent increase in total sales at 2,25,401 units in November.
 

However, in a statement the company said, "Incessant rains for the past three weeks in Chennai have had an adverse effect on company's production during this period.

The company suffered sales loss of approximately 15,000 units due to inclement weather".

The stock of the company was last trading at Rs 288 on the National Stock Exchange, down 5 per cent.

Other Tamil Nadu based companies like Ashok Leyland was also trading lower, while Sundaram Clayton dropped by almost 4 per cent.

The rains are expected to cause sales to be a little soft in the month of Dec.

 

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