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TVS Motor hits fresh 52-week high on December sales growth

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The TVS Motor stock hit a fresh 52 week high on Tuesday after the two and three-wheeler maker reported a healthy 39% growth in December sales. The sales of Chennai-based auto firm rose to 2,56,909 units from 184,944 units in December 2016.At 9:52 am, the stock was trading 1.65% or 12 points higher at 779 level on the BSE. Earlier, the stock hit a 52 week high of 794.90 level on BSE. The stock opened at 786.40 level and hit an intra day low of 776.10. The stock is up 112% or 412 points since the last one year. Total two-wheeler sales grew 37.9% to 2,47,630 units in the month of which domestic sales grew 35.4% to 2,07,778 units, the Hosur-based company said.Scooter sales grew by 50.5% from 55,557 units in December 2016 to 83,640 units in December 2017, while motorcycle sales grew by 63.7% to 95,281 units in the reporting month.Exports grew 55.8% to 47,818 units in December, of which two-wheeler exports grew 52.7% to 39,852 units.Its three-wheeler sales grew 72.1%, increasing from 5,393 units in December 2016 to 9,279 units in December 2017.During the third quarter of the financial year 2018, two-wheeler sales grew by 13.8% to 7.99 lakh units, while three-wheeler sales clipped past 67.7% to 27,000 units in the December quarter, TVS which is the only domestic two-wheeler company to have received the prestigious Deming Prize, said.

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