TVS Motor enters ₹1 lakh crore market cap club as shares hit fresh record high

livemint.com:

TVS Motor, one of the country's leading two-wheeler makers, surpassed the ₹one lakh crore market capitalisation in today's trade as its shares hit a new peak of ₹2,108.95 apiece. Over the past year, the company's market capitalisation has surged by ₹53,000 crore. Also Read: Nifty 50 advances for 5th straight session, crosses 22,000 mark for first time; Wipro, Infosys, TCS among major gainers The company's shares have been performing exceptionally well on Dalal Street.

They began their upward trend in April last year and continued through all months until December, marking a consistent positive trend. During this period, the shares have soared from ₹1,077 apiece to ₹2,025 apiece, reflecting an impressive gain of 88%. Looking at the long-term performance, the shares have gained 210% in the last two-year period and soared 292% in the last three-year period.

This outstanding performance becomes even more striking when looking back to April 2020, when the stock was valued at ₹240 per share. Since then, the shares have delivered an astounding return of 747%. Also Read: Over 45 Nifty 500 stocks gained between 10% and 50% in January so far; Sobha, JBM Auto among top gainers The company experienced a surge in sales during December, reflecting the ongoing recovery in the rural economy.

The monthly sales figures for December 2023 reached an impressive 301,898 units, marking a 25% growth compared to the 242,012 units recorded in December 2022. The overall two-wheeler segment exhibited robust growth, with a 27% increase, as sales escalated from 227,666 units in December 2022 to 290,064 units in December 2023. The domestic two-wheeler market registered a 33% increase, with sales climbing from 161,369 units in December 2022 to 214,988