Shares of Bajaj Auto Ltd. and TVS Motor Company Ltd. will be in focus on Thursday, July 2, after both two-wheeler manufacturers reported robust sales for June.
While Bajaj Auto's growth was driven by strong export demand, TVS Motor delivered a better-than-expected performance across key segments.
Bajaj Auto
Bajaj Auto reported total sales of 4.63 lakh units in June, up 28% from 3.61 lakh units a year ago, surpassing analysts' expectations of around 26% growth.
The company said domestic sales increased 11%, while exports surged 47%, helping total exports cross the 2.5 lakh-unit mark during the month.
Two-wheeler sales rose 30% year-on-year, with domestic sales growing 12% and exports climbing 49%.
Three-wheeler sales increased 18%, driven by a 33% jump in exports, while domestic three-wheeler sales grew 10%.
TVS Motor
TVS Motor emerged as one of the strongest performers among listed two-wheeler manufacturers, reporting a 47% year-on-year increase in total sales, well ahead of analysts' expectations of around 26% growth.
Domestic sales and motorcycle sales each grew 42% compared with the year-ago period.
The company's electric vehicle (EV) sales more than tripled to 48,537 units during the month.
Exports also remained strong, with total exports rising 47% and two-wheeler exports increasing 48% year-on-year.