TVS Motor company has reported 27% YoY/51% MoM jump in June`21 volumes to 251,886 units by Mr. Milan Desai, Angel Broking Ltd
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Below are Quote on TVS Motor company has reported 27% YoY/51% MoM jump in June’21 volumes to 251,886 units by Mr. Milan Desai, Lead Equity Analyst, Angel Broking
TVS Motor company has reported 27% YoY/51% MoM jump in June’21 volumes to 251,886 units. Domestic 2Ws came in at 1,45,413 units, up 179% MoM as against 1,44,817 units in Jun’20 with sequential growth driven by scooters. Total Exports were down 7% MoM to 1,06,246 units with 2W exports declining 9% MoM to 92,679 units. Total Scooters grew by 178% MoM to 54,595 units and Motorcycles were up 17% MoM to 1,46,874 units. As per the commentary, the company has reduced the stock in the channel to provide support. The demand from exports is strong but the volumes are affected on account of container unavailability. We have a positive view on the stock.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
