2 Large-cap Auto stocks gain up to 3.5% after providing YoY sales updates; Check the details

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2 Large-cap Auto stocks gain up to 3.5% after providing YoY sales updates; Check the details

The Indian market is considered a well-recognized Automobile manufacturing hub on a global scale because of its low-cost production. India is the 4th largest Automobile producer in the world averaging an annual production of over 4 million motor vehicles.

Although vehicle production was hampered due to the global pandemic, the current situation is easing and production levels are expected to increase in the upcoming years.

Listed below are 2 Large-cap Auto stocks that provided business updates pertaining to their sales over a horizon of one year, i.e., May 2022 v/s May 2023.

TVS Motor Company (NS: TVSM ) Limited

Shares of TVS Motor Company Limited started its trading session today at Rs 1,286.90 and currently trades at Rs 1,300, gaining 2.2 percent as compared to the previous closing price of Rs 1,272.10. In the last six months, the stock rose around 24 percent ranging from Rs 1,048.40 to the current price levels. The company has a market capitalization of Rs 61,775 crores.

TVS Motor Company Limited is an automobile manufacturing company based in India that focuses on the production of two-wheeled vehicles. Principally, the company manufactures scooters, motorcycles, mopeds, and other related spare parts and accessories.

In a recent filing with the exchange as of 1st June 2023, the company informed about a 32 percent growth in the sales of domestic two-wheelers rising from 191,482 units in May 2022 to 252,690 units in May 2023.

Moreover, TVS iQube, a product in the electric vehicle (EV) segment, observed a growth in sales from 2,637 units in May 2022 to 17,953 units in May 2023 representing an increase of 581 percent.

In totality, auto sales rose from 302,982 units in May 2022 to 330,609 units in May 2023 showcasing a rise of 9 percent.

Hero Motocorp Limited

Shares of Hero MotoCorp Limited (NS: HROM ) started its trading session today at Rs 2,836 and currently trades at Rs 2,891, gaining 3.3 percent as compared to the previous closing price of Rs 2,800.40. In the last one-month period, the stock rose around 16 percent ranging from Rs 2,495.90 to the current price levels. The company has a market capitalization of Rs 57,814 crores.

Domiciled in India, Hero MotoCorp Limited is a motorcycle company that manufactures as well as distributes scooters, motorcycles, and spare parts related to the same. The company mainly conducts its manufacturing process and assembles the production domestically.

In a recent filing with the exchange as of 1st June 2023, the company released its sales numbers with an increase in the overall domestic sales from 466,466 units in May 2022 to 508,309 units in May 2023 indicating a rise of 9 percent.

In totality, auto sales rose from 486,704 units in May 2022 to 519,474 units in May 2023 showcasing a rise of about 7 percent.

Written by Amit Madnani

The post 2 Large-cap Auto stocks gain up to 3.5% after providing YoY sales updates; Check the details appeared first on Trade Brains.

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