Sharekhan is bullish on TVS Motors has recommended buy rating on the stock with a target price of Rs 470 in its research report dated October 29, 2020.

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Sharekhan's research repor on TVS Motors

TVS Motors Limited’s (TVSM) Q2FY2021 results were higher than our as well as consensus estimates, driven by better-than-expected margin performance. TVSM is witnessing strong recovery in domestic demand with retail sales turning positive in the initial festive days. Export demand has picked up strongly with strong double-digit growth reported in September 2020. Margins improvement is expected to sustain given cost control measures and operating leverage. TVSM is expected to remain the fastest growing two-wheeler (2W) company with strong 20% earnings CAGR over FY2020-FY2023.

Outlook

We retain our Buy rating on the stock with an unchanged price target (PT) of Rs. 470.

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First Published on Nov 2, 2020 03:08 pm

Buy TVS Motors; target of Rs 470: Sharekhan

Sharekhan is bullish on TVS Motors has recommended buy rating on the stock with a target price of Rs 470 in its research report dated October 29, 2020.

tags #Buy #Recommendations #Sharekhan #TVS Motors