TVS Motor Company is trading higher by 5% at Rs 97.80, extending its over 8% rally in past one week, on back of heavy volumes on the bourses.
Shares of two-wheeler maker has opened at Rs 95.40 and touched a record high of Rs 100.90 on the NSE. At 1110 hours, a combined 2.88 million shares already changed hands on the counter against an average sub 2 million shares that were traded daily in past two weeks on the NSE and BSE.
Since January 29, the stock has rallied 44% from Rs 67.80 after reported 31% year on year growth in net profit for the quarter ended December 31, 2013 on account of decrease in finance cost and increase in other income.
Analyst at Motilal Oswal Securities, TVS Motor Company is well positioned to benefit from the scooterization wave in India. Over the next 12-18 months, it plans to launch multiple products across segments to reinforce and fill gaps in its product portfolio.
Analyst maintains ‘Buy’ rating on the stock with a target price of Rs 120 per share.
Sustained strength of the Scooter industry and TVS Motor’s market share gains, coupled with initial signs of recovery in the South, increase our confidence in the company’s ability to deliver strong volume-led earnings growth, analyst said in a report dated March 18, 2014.
Shares of two-wheeler maker has opened at Rs 95.40 and touched a record high of Rs 100.90 on the NSE. At 1110 hours, a combined 2.88 million shares already changed hands on the counter against an average sub 2 million shares that were traded daily in past two weeks on the NSE and BSE.
Since January 29, the stock has rallied 44% from Rs 67.80 after reported 31% year on year growth in net profit for the quarter ended December 31, 2013 on account of decrease in finance cost and increase in other income.
Analyst at Motilal Oswal Securities, TVS Motor Company is well positioned to benefit from the scooterization wave in India. Over the next 12-18 months, it plans to launch multiple products across segments to reinforce and fill gaps in its product portfolio.
Analyst maintains ‘Buy’ rating on the stock with a target price of Rs 120 per share.
Sustained strength of the Scooter industry and TVS Motor’s market share gains, coupled with initial signs of recovery in the South, increase our confidence in the company’s ability to deliver strong volume-led earnings growth, analyst said in a report dated March 18, 2014.
