Piaggio rises on 2- and 3-wheelers sales boost in India
06/03/2023 10:56
** Shares in Italy's Piaggio PIA.MI rise almost 4% after
total sales of 2- and 3-wheelers increased by 15% and 81%
respectively in India in February, Federation of Automobile
Dealers Associations (FADA) said on Monday
** "We deem the news positive and not discounted," Banca
Akros says
** The broker adds the Indian market offers "plenty of
upside" as the three-wheeler sales are still 50% below the 2019
levels, while the two-wheeler sales are 30% below pre-pandemic
levels
** At 1051 GMT shares in Piaggio are up 3.0%, outperforming
the FTSE All Share .FTITLMS which rises 0.4%
(Reporting by Carlo Giovanni Boffa)
((Carlogiovanni.boffa@thomsonreuters.com))