Shares of TVS Motors are among today's top auto gainers

TVS Motor Co., India's fourth largest two-wheeler maker, was the top auto gainer in the futures and options segment on Wednesday after the company reported a modest rise in monthly sales for August.

TVS said its total vehicle sales rose to 227,653 units last month versus 225,064 units in August 2014. Within this segment, bike sales rose 6 percent to 87,044 units and exports surged 21 percent to 42,570 unit over the two comparative months.

As a consequence, TVS Motors jumped 7.65 rupees, or 3.7 percent, to 213.75 rupees on the National Stock Exchange with 6.06 lakh shares traded compared with a 5-day average of 11.12 lakh shares. Open Interest rose 2.7 percent over Tuesday.

TVS' market capitalisation gained 9 percent in the past one year to 10,400 crore rupees and the stock is trading at 6 times its book value of 36.5 rupees.

Image credit: Indiatimes