TVS Motor share price gains 2.63% to scale 52 week high on its foray into Vietnam
TVS Motor Company Ltd share price saw gains of 2.63% to 52 week highs of 1784 on the BSE in the morning trades on Thursday, on news flow around its entry into Vietnam. TVS Motor on Thursday announced its entry into Vietnam in collaboration with Minh Long Motors – its distribution partner. TVS Motor Company said that it will offer a range of scooters and underbone motorcycles, across multiple price points, in keeping with its commitment to responsible and sustainable mobility.
TVS Motor's entry into Vietnam is its second major global foray in two weeks. Last week the company announced its entry into Europe starting with France. TVS Motor Company already has been doing well in exports and the Global expansions now improve its growth outlook further.
Also Read- Flair Writing IPO: Latest GMP, subscription status on day 2, review, other details. Apply or not? As per Jefferies India Pvt Ltd data TVS motors with its attractive product propositions, has gained market share from 17% to 26% in two-wheeler exports, over FY18 to 1HFY24 and from 22% to 44% in three-wheeler exports. Thus, the foray into new markets will further provide impetus for TVS Motors exports.
Notably the export volume that had remained soft for the industry owing to geopolitical issues and in the rising interest rate era have started improving . For TVS Motor Company two-wheeler exports of 2.39 Lakh units in the quarter ended September 2023 while improved sequentially were also not much less compared to 2.52 Lakh units in the quarter ended September 2022. Notably TVS Motors is growing well in Domestic arena.
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