TVS Motor may hike prices

TVS Motor Co Ltd, India's No. 3 two-wheeler maker, may hike prices of its products in the near term to offset an increase in raw material costs particularly of steel. H.S. Goindi, president-marketing reported that they were looking in the matter and were evaluating the complete commodity pricing. There is a possibility that they could increase the prices in the next few weeks. TVS Motor recorded a 235.3 million rupees net profit in Oct-Dec against a loss of 9.6 million rupees in the same period last year which leads to the raise of a quarter to 10.7 billion rupees. The firm was also benefited from lower raw material costs in the quarter. H.S. Goindi also said that the growth had been across categories and they were still down in exports though exports had been much higher than earlier quarters.