Last Updated: October 31, 2023, 13:15 IST
TVS Apache RTR 310 (Photo: TVS)
The TVS Motor inventory opened at Rs 1,634 and went on to hit an intraday low of Rs 1,585.45
Shares of TVS Motor Company Ltd had been buying and selling within the inexperienced round 9:30 am and jumped 1.5% to hit their 52-week excessive of Rs 1,634 on the NSE in Tuesday’s commerce after a greater-than-estimated September quarter internet revenue. Later within the day they slipped into the crimson and slipped 3%.
The TVS Motor inventory opened at Rs 1,634 and went on to hit an intraday low of Rs 1,585.45. The scrip has risen 38% within the final six months. On a 12 months-to-date foundation, the inventory has rallied 50%, in contrast with an over 27% climb within the Nifty Auto index.
The firm’s revenue rose 31.7% to Rs 527 crore within the three months to September 30 from a 12 months earlier. Analysts on common estimated a revenue of Rs 525 crore as per LSEG information.
TVS Motor’s scooter and bike gross sales rose 10% and three%, respectively, throughout the quarter.
Should You Buy TVS Motor Shares?
Following TVS Motor Company’s higher-than-estimated September quarter internet revenue, Jefferies raised its value goal on the 2-wheeler inventory.
The brokerage stays optimistic in regards to the firm’s progress prospects in mild of enhancing 2W demand within the nation.
Domestic brokerage agency Nuvama maintained its ‘Buy’ ranking on TVS Motor with a revised goal value of Rs 1,840 from Rs 1,510 earlier. Nuvama stated that TVS has been gaining home share. Market share has grown from 14% in FY18 to 16% in FY23.
The brokerage expects an extra improve from 16% in FY23 to 18% in FY26, led by elevated share in govt or premium bikes and electrical autos.
“Multiple launches (Jupiter, Zest, Ntorq, iQube, Radeon and Raider) over the years have enabled volumes, market share gains. We estimate outperformance in overseas markets with new products, better penetration, and FY23-26E domestic/export 2W volume CAGR at 11%/8%,” it stated.
Himanshu Singh – Research Analyst at Prabhudas Lilladher believes TVS is effectively positioned to outperform the trade given good tractions for brand new product launches in ICE and EV segments; larger concentrate on exports and premiumisation and margin enchancment helped by value management; working leverage; benign enter costs and PLI advantages to doubtless offset impression from larger EV combine.
The brokerage has retained ‘Accumulate’ with a revised inventory goal of Rs 1,650 from earlier Rs 1,560.
Disclaimer:Disclaimer: The views and funding suggestions by consultants on this News18.com report are their very own and never these of the web site or its administration. Users are suggested to verify with licensed consultants earlier than taking any funding selections.
