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.
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.
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