Though the TVS Motor stock is down 30 per cent over the past one year, there could be more downside, given the two-wheeler sector is bracing for its worst annual volume performance in a decade. While TVS Motor did better than the sector in the June quarter with volumes down a per cent, compared to the nearly 10 per cent fall for the sector, the outlook for the September quarter is not very favourable.

Volume fall for the current quarter is expected to be in the double digits. While most segments posted a growth, mopeds, which account for just under a fifth of the volumes, fell 21 per cent ...............BS