Buy, Sell or Hold: TVS Motor trades flat - check price target

TVS Motor Share Price NSE: TVS Motor Company Limited, NSE: TVSMOTOR, shares traded flat on Wednesday, December 14 on Dal Street, a day after the company stated that it plans to launch Euro-V emission norms-compliant two-wheelers in Turkey.

The stock opened at Rs 1,046.00 apiece on NSE, gaining 1 per cent from previous close of Rs 1036.80. The counter, however, surrendered the gains to trade in red.

TVS Motor plans to introduce Euro 5 compliant products like Jupiter, NTORQ Race Edition, Raider and Apache RTR 200 4V in the market and strengthen its presence in Turkey.

The company in a statement said, "In consideration of environment protection and taking care of the wellbeing of people of Turkey, the Turkey government has regulated adherence to Euro-5 emission norms."

Brokerage firm UBS is bullish on TVS Motor. The brokerage has tagged a 'buy' call on the counter with a target price of Rs 1335.

The brokerage firm said that management shared that over the next 12 quarters, the company will launch multiple EVs covering all sub-segments where their ICE models participate. Despite a sharp ramp-up in EV volumes, management aims to continue to expand its margins, the brokerage firm added.

TVS Motor Share Price History

The stock has given a stellar return of 39 per cent in the last six months. YTD, TVS Motor has yielded a positive return of 66 per cent. Putting into perspective, TVS Motor stock which was available for Rs 629.25 apiece on January 3, is now available at around Rs 1040.80. At current levels, the stock has a market cap of Rs 49.48 thousand crore.

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