TVS Motor gains 3% in weak market on stable Q3 performance

Domestic demand is expected to improve sequentially in 4Q, supported by better rural market sentiment on the back of strong rabi crop sowing and higher MSPs.

Shares of TVS Motor Company were up 3.4 per cent at Rs 1,019.80 on the BSE in Wednesday’s intra-day trade in an otherwise weak market after the company reported a stable performance, with the company’s standalone operating EBITDA up 16 per cent at Rs 659 crore for the third quarter (October-December) of financial year 2022-23 (Q3FY23). Operating EBITDA margin for the quarter was at 10.1 per cent as against 10 per cent reported in the third quarter of 2021-22 (Q3FY22).

The stock of two-three wheelers was trading higher for