TVS Motor's Expansion In Ghana Spurs Investor Confidence Amid Export Concerns

Shares of TVS Motors jumped back in the green on Monday as the company announced the launching of several new products in Africa’s Ghana.

What Happened: TVS Motors on Monday announced the launch of seven new products in Ghana,
Africa, including the Bebek – TVS Neo NX, three variants of the TVS HLX series (TVS HLX 125, TVS HLX 150 & TVS HLX 150X), the TVS Apache 180, and the three-wheelers TVS King series.

See Also: Global Analyst Sees Maruti Suzuki Shares Running Up 33% — And Investors Are Already Reacting

The company which has a presence in over 80 countries across Africa, South East Asia, the Indian Sub-Continent, Latin America, and the Middle East has seen a decline in its export numbers recently. In Feb 2023, the company reported an around 50% year-over-year decline in exports 53,405. The decline has been worrying investors and analysts alike. Shares of the company have fallen around 3.3% in the past month.

However, the announcement seems to have allayed some of those fears, as the stock saw a bump after the announcement was made at around 11:30 am.

Price Action: TVS Motor shares were up 0.75% to trade at ₹1,049.55 in the late hours of trading on Monday.

See Also: Tata Motors Hikes Some Vehicle Prices And Investors Are Loving It

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: automobile industryGhanathree wheel vehiclesTVS MotorsTwo wheeler