TVSMOTOR

March 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FEB 2-WHEELER SALES 13,84,605 UNITS - INDUSTRY BODY

• INDIA'S FEB 3-WHEELER SALES 57,788 UNITS - INDUSTRY BODY

• INDIA'S FEB TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,77,689 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY: UPCOMING FESTIVITIES OF HOLI, UGADI IN MARCH LIKELY TO CONTINUE TO DRIVE DEMAND

Further company coverage: ASOK.NS

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March 11 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY LTD - IFQM SHAREHOLDING REDUCED TO 18.18%

• TVS MOTOR COMPANY LTD - IFQM CEASES TO BE ASSOCIATE OF TVS MOTOR

Source text: ID:nBSE8nKG9r

Further company coverage: TVSM.NS

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March 3 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• BEGINS DISPATCHING OBD-2B COMPLIANT VEHICLES STARTING WITH THE TVS JUPITER 110

• TO COMPLETE OBD-2B TRANSITION BY END OF MARCH 2025

Source text: ID:nBSE1sjQRW

Further company coverage: TVSM.NS

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Feb 28 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TAX ORDER DEMANDS 44.5 MILLION RUPEES,

• TAX ORDER DEMANDS 21.1 MILLION RUPEES

Source text: ID:nBSEc83Q40

Further company coverage: TVSM.NS

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Feb 11 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY - SIGNS MOU WITH GOVERNMENT OF KARNATAKA

• TVS MOTOR COMPANY LTD - TO INVEST 20 BILLION RUPEES IN KARNATAKA OVER NEXT 5 YEARS

• TVS MOTOR COMPANY LTD - MOU TO SET UP GLOBAL CAPABILITY CENTER IN KARNATAKA

• TVS MOTOR COMPANY - AIMS TO DOUBLE EXPORT, OVERALL REVENUES FROM MYSURU OPERATIONS

Source text: ID:nBSE9cC9hW

Further company coverage: TVSM.NS

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Feb 6 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S FADA: OVERALL AUTO RETAIL GREW BY 6.6% YOY IN JAN

• INDIA'S FADA: PERSISTENT CASH-FLOW CONSTRAINTS, SUBDUED INDUSTRIAL DEMAND COULD CAP UPSIDE POTENTIAL

• INDIA'S FADA: SUPPORTIVE POLICIES, POST-BUDGET STIMULUS MAY HELP SUSTAIN SECTOR’S EARLY-YEAR GAINS

• INDIA'S FADA: ONGOING FESTIVE/WEDDING DEMAND, FRESH PRODUCT INTRODUCTIONS COULD SUSTAIN FOOTFALLS IN NEAR-TERM

• INDIA'S FADA: NEARLY HALF OF DEALERS ANTICIPATE GROWTH IN FEB,43% EXPECT SALES TO STAY FLAT,11% FORESEE DIP

• INDIA'S FADA: AUTO RETAIL SECTOR ENTERS FEBRUARY WITH CAUTIOUS OPTIMISM

Source text: [ID:]

Further company coverage: ASOK.NS

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Feb 1 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY’S SALES GROW BY 17% IN JANUARY 2025

Source text: ID:nBSEbyVzyj

Further company coverage: TVSM.NS

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** Shares of TVS Motor Company TVSM.NS jump 4.6% to 2,332.95 rupees, set to snap two-session losing streak

** Two-wheeler maker's Q3 profit rises 4.2% y/y, revenue up 10.3% y/y

** Q3 operating EBITDA margin expands to 11.9% from 11.2% a year ago

** TVSM among top gainers in the Nifty Auto index .NIFTYAUTO, which is up 1.5%

** Trading vols at 1.3 mln shares, 1.9x the 30-day average

** Average rating by analysts on TVSM and peer Bajaj Auto BAJA.NS is "hold", "buy" for Hero MotoCorp HROM.NS - LSEG data

** TVSM gained 16.9% in 2024 vs 86.6% rise in 2023

(Reporting by Vijay Malkar)

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Jan 18 (Reuters) - HYUNDAI MOTOR AND TVS MOTOR ANNOUNCE COLLABORATION FOR MICROMOBILITY VEHICLES AT INDIA CAR SHOW

Further company coverage: 005380.KS

(Reporting by Siddhi Nayak)

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Jan 14 (Reuters) -

• INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,14,934 UNITS - INDUSTRY BODY

• INDIA'S DEC 2-WHEELER SALES 11,05,565 UNITS - INDUSTRY BODY

• INDIA'S DEC 3-WHEELER SALES 52,733 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 42,74,793 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 2-WHEELER SALES 1,95,43,093 UNITS - INDUSTRY BODY

• INDIA'S JAN-DEC 3-WHEELER SALES 7,28,670 UNITS - INDUSTRY BODY

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Updates shares in paragraph 10, adds details from letter in paragraph 5, background in paragraph 7-9

Jan 8 (Reuters) - India's markets regulator has warned Ola Electric OLAE.NS against sharing company-related information on social media before disclosing it to investors, adding to a slew of problems for the electric two-wheeler maker.

The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had failed provide "equal and timely access" to its investors of information about a planned store expansion.

Last month, Ola Electric's founder, Bhavish Aggarwal, shared news about new store openings in a post on social media platform X and to investors about four hours later through the stock exchanges.

Publicly-listed companies are required to disclose any information first to investors through exchange filings and not more than 12 hours after the event takes place.

"The above violations have been viewed very seriously. You are hereby warned," SEBI said in its letter.

Ola Electric, which went public in August last year, opened 3,200 new stores and service centres last month to expand its reach and address rising complaints on its service standards.

The letter from SEBI is the latest such regulatory scrutiny on the company following a government agency's investigation into its service standards.

The issues have cast a shadow on Ola's stellar listing, which saw its shares double in value in less than a week.

It has also lost market share to rivals TVS Motor TVSM.NS and Bajaj Auto's BAJA.NS 'Chetak' e-scooters in recent months.

Its shares are currently down about 1.8% at 77.74 rupees, nearly 50% below their all-time high hit in August last year. They had fallen as much as 5% earlier in the day.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

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Jan 2 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY’S SALES GROW BY 7% IN DECEMBER 2024

Further company coverage: TVSM.NS

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Dec 23 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY LTD - COMPLETES ACQUISITION OF 39.11% STAKE IN DRIVEX

Source text: ID:nBSE1HXMkc

Further company coverage: TVSM.NS

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Dec 19 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY - TO ACQUIRE ADDITIONAL 0.32% STAKE IN DRIVEX MOBILITY

• TVS MOTOR COMPANY LTD - ACQUISITION COST 8 MILLION RUPEES

Source text: ID:nBSE2B9Jpp

Further company coverage: TVSM.NS

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By Aditi Shah and Neha Arora

NEW DELHI, Dec 17 (Reuters) - South Korea's LG Energy Solution is in talks with India's JSW Energy to manufacture batteries for electric vehicles and renewable energy storage in a joint venture that would need an investment of over $1.5 billion, two sources told Reuters.

The two companies have signed an initial agreement to form an equal partnership in which LGES 373220.KS will contribute the technology and equipment for making batteries and JSW JSWE.NS will invest money, said one of the sources.

The discussions include setting up a plant in India with a total capacity of 10 gigawatt hours of which JSW is likely to use about 70% for energy storage and electric vehicles and LGES will take the remainder, both sources said.

"LGES wanted a partner in India and JSW is interested because it is coming up with its own brand of EVs starting with buses and trucks, and later on cars," said the second person.

The agreement is non-binding and both companies expect to finalise the talks over coming months, said the two sources who have direct knowledge of the discussions but declined to be identified as the talks are still private.

"We are exploring various potential business options and monitoring market situation closely," LGES said in a statement, adding that it does not have any specific plans for India.

JSW Energy declined to comment.

Reuters reported last year that LGES and JSW were in early talks to build batteries together in India.

For LGES, which supplies Tesla TSLA.O, General Motors GM.N and Hyundai 005380.KS, the joint venture will establish its manufacturing presence in India where it is the top battery supplier to e-scooter makers like Ola Electric OLAE.NS and home-grown rival TVS Motor TVSM.NS.

It also gives LGES an opportunity to lower its risk of manufacturing in a country where the EV market is still in its infancy. Slowing EV demand elsewhere in the world has already forced it to reduce capital expenditure next year.

For JSW, whose billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs, this will be an opportunity to secure supplies locally for its energy business while bringing down the cost of its EVs.

The Indian steel-to-energy group last year formed a joint venture with China's SAIC Motor 600104.SS giving it a 35% stake in the Chinese carmaker's India unit, MG Motor, which it is now helping grow.

"JSW has proposed a 25-year agreement to LGES," said the second person, adding that the Indian company continues to engage with other battery players as well.

The companies would like the plant to be operational before the end of 2026 and expect to make a final decision in about 3-4 months, the first person said.

If the venture goes ahead it will be a win for India's Prime Minister Narendra Modi's government that is offering companies billions of dollars in incentives to boost local manufacturing of clean cars.

Domestic carmakers Tata Motor TAMO.NS and rival MG Motor dominate India's electric car sales, while home-grown brands like Ola, TVS and Bajaj Auto BAJA.NS lead e-scooter sales.

(Reporting by Aditi Shah and Neha Arora in New Delhi, additional reporting by Hyun Joo Jin in Seoul
Editing by Christina Fincher)

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Dec 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S NOV TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,47,522 UNITS - INDUSTRY BODY

• INDIA'S NOV 2-WHEELER SALES 16,04,749 UNITS - INDUSTRY BODY

• INDIA'S NOV 3-WHEELER SALES 59,350 UNITS - INDUSTRY BODY

Source text: [ID:]

Further company coverage: ASOK.NS

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Nov 29 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR COMPANY LTD - TO ACQUIRE 39.11% STAKE IN DRIVEX MOBILITY

• TVS MOTOR - COST OF ACQUISITION 977.9 MLN RUPEES

Further company coverage: TVSM.NS

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Nov 21 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• LAUNCHES NEW 2.2 KWH TVS IQUBE VARIANT IN NEPAL

Source text: ID:nBSE7gSkSc

Further company coverage: TVSM.NS

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Nov 19 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• LAUNCHES TVS APACHE RTR 160 4V AT PRICE OF 139,990 RUPEES EX-SHOWROOM NEW DELHI

Source text: ID:nBSE9V2kmR

Further company coverage: TVSM.NS

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Nov 15 (Reuters) - India's festive period auto sales by dealers to customers grew about 12%, led by two-wheeler sales on the back of strong rural demand, data from a dealers' body showed on Friday.

The Federation of Automobile Dealers Association (FADA) said festive period sales from Oct. 3 to Nov. 13 came in at about 4.3 million units, compared to last year's 3.8 million units.

Indians generally make big-ticket purchases on items like vehicles during the festive season, which kicked off on Oct. 3 this year.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Abinaya Vijayaraghavan)

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Adds details on strategy, updates share levels and background

By Nandan Mandayam and Indranil Sarkar

Nov 14 (Reuters) - India's Eicher Motors EICH.NS was on course for its best day since mid-2020, after the Royal Enfield motorcycle maker posted a quarterly profit beat, which analysts said indicated that the "toughest phase" of competition was over.

Eicher's stock rose more than 8.3% and was the top gainer on the Nifty auto index .NIFTYAUTO, which was up about 1%.

Jefferies said that the "toughest phase of the competition is behind" for Royal Enfield. Emkay, which also said competition was "largely behind", upgraded the stock three notches to "buy" from "sell".

Demand for its motorcycles has sustained even after the October-November festive season due to successful launches of some of new premium models, Royal Enfield CEO B Govindarajan told analysts on Wednesday.

The company, which gets most of its earnings from Royal Enfield, came under pressure last year after two-wheeler makers Hero MotoCorp HROM.NS and Bajaj Auto BAJA.NS launched premium Harley Davidson and Triumph models, directly challenging some of Royal Enfield's top sellers.

Govindarajan added that rural demand was rising and continued to outpace urban sales growth. Rural sales account for a third of Royal Enfield's sales and over half of the country's two-wheeler industry.

The positive commentary sent Hero's shares 1.5% higher. The company, which sells a major chunk of its motorcycles in rural India, is often viewed by investors as a gauge for rural sales.

It is due to report results later in the day.

Shares of other two-wheeler makers also traded marginally higher, with TVS Motor Company TVSM.NS rising 0.6% and Bajaj Auto up 0.1%.

Additionally, analysts raised Royal Enfield's volume growth estimates after Govindarajan said the company was focusing on volumes over margins and looking at "all the levers which are available for getting the growth."

Nomura termed Royal Enfield's focus on volume growth "a better trade-off" while upgrading the stock to "neutral" from "sell". It raised its fiscal 2025 volume growth target to 8.3% from 5%, while Ambit raised its estimate to 5.4% from 3.9%.

(Reporting by Nandan Mandayam and Indranil Sarkar in Bengaluru; Editing by Janane Venkatraman)

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Nov 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S OCT TOTAL DOMESTIC PASSENGER VEHICLE SALES 393,238 UNITS - INDUSTRY BODY

• INDIA'S OCT 2-WHEELER SALES 2,164,276 UNITS - INDUSTRY BODY

• INDIA'S OCT 3-WHEELER SALES 76,770 UNITS - INDUSTRY BODY

Further company coverage: ASOK.NS

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** Shares of TVS Motor Co TVSM.NS fall as much as 6.6% to 2,485.90 rupees, last down 3%

** Indian two-wheeler maker misses Q2 profit and revenue estimates

** TVSM shares hit their lowest level since early Aug, top loser on Nifty auto index .NIFTYAUTO

** Avg rating of analysts covering the stock at "hold"; median PT is at 2,572 rupees - LSEG data

** Stock up ~25% so far this year vs a 31% rise in Nifty auto index

(Reporting by Dimpal Gulwani in Bengaluru)

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Corrects paragraph 2 to say Bajaj expects festive season sales growth of 3%-5%, not 1%-2%; and industry expects at least 8% growth, not 5%-6%

Oct 17 (Reuters) - Indian motorcycle maker Bajaj Auto's BAJA.NS shares dropped 8.6% on Thursday and looked set for their worst day since March 2020 after the company's weak outlook for overall motorcycle sales during the festive period.

In an analyst call on Wednesday, Executive Director Rakesh Sharma said he expects motorcycle sales during the early October-November festive season to grow just 3%-5%. That is lower than the industry's expectation of at least 8%.

Bajaj Auto's commentary led to a drop in rival shares as well, with Hero MotoCorp HROM.NS and TVS Motor TVSM.NS falling about 5% each.

Indians generally make big-ticket purchases like motorcycles during the festive season.

However, this year, rising food prices ahead of the festival season have prompted some consumers to limit more expensive purchases, retailers said.

Bajaj Auto reported quarterly profit growth and margins that largely met expectations, according to analysts, who noted that the stock's current valuation appeared to have priced in all positives.

The company is the first two-wheeler maker to report its second-quarter results.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

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Oct 9 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - ECOFY AND TVS MOTOR COMPANY COLLABORATE

• TVS MOTOR - ECOFY, CO COLLABORATE ON EV THREEWHEELER FINANCING IN INDIA

Further company coverage: TVSM.NS

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Oct 7 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA'S AUTO DEALER'S BODY: SEPT OVERALL SALES WITNESSED SIGNIFICANT DECLINE OF -9.26% YOY

• INDIA'S FADA: PASSENGER VEHICLE DEALERS FACING ALL TIME HIGH INVENTORY LEVELS OF 80-85 DAYS

• INDIA'S FADA: PASSENGER VEHICLE DEALERS UNDER FINANCIAL PRESSURE, INCREASED CASH FLOW CHALLENGES

• INDIA'S FADA: URGE RBI TO ISSUE STRICTER RULES ON CHANNEL FUNDING TO MITIGATE DEALERS FINANCIAL RISK

• INDIA'S FADA - MIXED PERFORMANCE OBSERVED ACROSS SEGMENTS IN SEPT

• INDIA'S FADA - MONSOON DISRUPTED RETAIL PERFORMANCE IN REGIONS, NEGATIVELY IMPACTING DEMAND

• INDIA'S FADA - FESTIVE SEASON BOOST WITH BOTH NAVRATRI, DIWALI FALLING IN SAME MONTH,EXPECTED TO UPLIFT SALES

• INDIA'S FADA - FAVOURABLE AGRI CONDITIONS LIKELY TO SPUR RURAL DEMAND FOR 2W, PV, TRAC SEGMENTS
  

Source text for Eikon: [ID:]

Further company coverage: ASOK.NS

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By Nandan Mandayam

Oct 1 (Reuters) - India's top electric scooter maker Ola Electric OLAE.NS logged its lowest monthly sales this year in September, government data showed, as the SoftBank-backed firm sees its dominance eroded by smaller competitors and servicing network challenges.

Ola Electric, which made its stock market debut about two months ago, sold 23,965 vehicles in September, recording a month-on-month decline for the second consecutive month.

Its falling month-on-month sales has seen its market share decline for five straight months to 27% in September, from over 50% in April, the data showed.

In that period, Ola's closest rivals TVS Motor TVSM.NS and Bajaj Auto BAJA.NS have narrowed the gap, reporting market share gains for five and three straight months, respectively.

Ola Electric did not respond to a Reuters email seeking comment on the market share loss and its servicing network.

Slowing sales at Ola, whose prices have often undercut the market, pose further challenges to the company's financial results. It is yet to turn a profit.

Analysts attribute Ola's narrowing lead to rivals launching newer models priced closer to those of Ola, as well as its own strained service network that is seeing scooters pile up.

A ramp-up in dealership networks has also been key for Bajaj and TVS in challenging Ola, according to Jay Kale of Elara Capital.

Over the last year, Bajaj has boosted the dealership count for its Chetak e-scooters from around 100 to over 500, as of June. Ola's dealership count has only risen from 750 to 800.

Last month, a 26-year-old man was arrested for allegedly setting fire to an Ola showroom in the southern Karnataka state over unsatisfactory servicing of a recently purchased e-scooter.

HSBC analysts said in a note last month that Ola's service would be one of the "key drivers" for maintaining its market share.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mark Potter)

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Sept 24 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• TVS MOTOR - TVS RONIN INTRODUCING PRICING FOR ITS BASE VARIANT, RANGE TO START AT 135,000 RUPEES

Source text for Eikon: [ID:]

Further company coverage: TVSM.NS

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Sept 16 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• SOLD ITS ENTIRE HOLDING IN TVS DIGITAL

• DEAL FOR 41.4 MILLION RUPEES

Source text for Eikon: ID:nBSEb94zG4

Further company coverage: TVSM.NS

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Aug 30 (Reuters) - TVS Motor Company Ltd TVSM.NS:

• LAUNCHED TVS RAIDER 125 IN SRI LANKA

Source text for Eikon: ID:nBSE4Q4N10

Further company coverage: TVSM.NS

(Reporting by VijayDattaram Malkar)

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