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20 April, 2024 14:17 IST
TVS Motor Co falls after Corona Virus impacts production
Source: IRIS | 26 Feb, 2020, 02.10PM
Rating: NAN / 5 stars.
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TVS Motor Company, one of the largest two-wheeler manufacturers in India fell nearly 5% after it said the coronavirus outbreak has impacted the supply of certain components thereby affecting about 10 per cent of its planned production for February. The novel coronavirus pandemic has led to an impact on the supply of certain components for the production of BS-VI vehicles, TVS Motor Co said in a regulatory filing.

''While TVS Motor's direct dependency on China is limited for components, some Tier II suppliers have been impacted adversely which will lead to 10 per cent drop in the planned production in February 2020,'' it said.

All efforts are on to normalise this at the earliest, it added.

Commenting on this development, TVS Motor Director and CEO KN Radhakrishnan said, ''At TVS Motor Company, we have completely transitioned to BS-VI in the month of January 2020.''

Shares of T V S Motor Company are trading at Rs 431.70, down Rs 4.65, or 1.07% at the Bombay Stock Exchange (BSE) on Wednesday at 12:54 p.m.

The scrip has touched an intra-day high of Rs 432.90 and low of Rs 423.00. The total volume of shares traded at the BSE is 15,351.

In the earlier session, the shares fell 0.26%, or Rs 1.15, at Rs 436.35.

Currently, the stock is trading down 17.74% from its 52-week high of Rs 524.80 and above 26.86% over the 52-week low of Rs 340.30.

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