TVS Motor stock gains 6% post mixed Q4 nos; heres what brokerages suggest

TVS Motor share price target, TVS Motor share price, TVS Motor Q4 results: TVS Motor Company stock rose as much as 6.32 per cent to the day's high of Rs 2,123 on NSE in morning deals on Thursday (May 9), a day after the automobile firm reported a mixed set of March quarter results. At close, the auto stock settled at Rs 2,061.6, up 3.25 per cent on NSE. 

TVS Motor Q4 results: Net profit rises 15%

On Wednesday, TVS Motor Company said its consolidated net profit increased 15 per cent to Rs 387 crore for the fourth quarter ended March 2024, riding on robust sales.

The company had reported a net profit of Rs 336 crore in the January-March period of the previous fiscal.

Revenue from operations rose to Rs 10,042 crore in the period under review compared with Rs 8,031 crore in the fourth quarter of FY23.

In the fourth quarter, the company said its overall two-wheeler and three-wheeler sales, including exports, grew by 22 per cent to 10.63 lakh units compared to 8.68 lakh units in the same period of the 2022-23 fiscal. Read more on TVS Motor Q4 results

TVS Motor Q4 results review: Here's what Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi suggested buying TVS Motor futures for targets of Rs 2,035, Rs 2,070 and Rs 2,090 with a stop loss at Rs 2,000, citing strong results, positive management commentary, and expectations of better volume recovery than peers. 

TVS Motor share price target: Here's what brokerages suggest post Q4

Jefferies has maintained a ‘buy’ call on the TVS Motor stock with a target of Rs 2,525. The brokerage highlighted the following key points in its note: 

• Growth Momentum continues, scaling new highs
• India 2Ws poised for strong growth; export recovering too
• Improving margins but high investments
• EPS has more than trebled in the last 3 years, and expect it to more than double in the next 3 years

Two brokerages, JPMorgan and Nomura each have maintained a ‘neutral’ rating on the TVS Motor stock. While JPMorgan has raised the target to Rs 2,150 from Rs 2,110 earlier and Nomura has placed the target at Rs 1,946.

Morgan Stanley has maintained an ‘equal-weight’ rating on TVS Motor with a target of Rs 1,706. Meanwhile, Macquarie has maintained an ‘outperform’ rating on the stock with a target of Rs 2,242.

CLSA and Citi, on the flip side, each maintained a ‘sell’ call on the auto stock with raised targets of Rs 1,444 and Rs 1,550 from Rs 1,400 and Rs 1,450 earlier.

(with PTI inputs)

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