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TVS Motor reported a 23% increase in vehicle sales to 339,513 units in January. Two-wheeler sales increased by 25%, with domestic sales spiking by 24% to 268,233 units. Motorcycle volumes grew by 29%, reaching 155,611 units. The scooter segment saw a growth of 24% with sales increasing to 132,290 units. The company also witnessed a 34% year-on-year growth in electric vehicle sales at 16,276 units. Three-wheeler sales stood at 9,576 units. ....
A better product mix and a judicious call on staying away from EV scooter discounting should fatten margins. The maker of Apache expanded its margins by 114 basis points on a year-on-year basis to 11.2% in the December quarter and its operating profit (Ebitda) per vehicle rose to a record high of ₹8,397. One basis point is 0.01 percentage point. ....
Brokerage firm Goldman Sachs maintained a neutral rating on TVS Motor, Jefferies maintained a hold on IOC, Morgan Stanley recommended an Equal Weight rating on IOC, Jefferies has a buy rating on DLF and ICICI Securities downgraded Indus Towers. ....
Tech Mahindra: Saw a 3.3% QoQ growth in net profit at Rs 510.4 cr Revenue from ops grew 1.8% QoQ to Rs 13,101 cr Tata Steel: Cons net profit at Rs 522.1 cr vs loss of Rs 2,502 cr YoY on healthy operating nos with fall in input cost Revenue from ops fell 3.1% YoY to Rs 55,312 cr ....