TVS Motor shares hit all-time high after automaker reports strong operational results

TVS Motors Share Price: TVS Motors banked on strong operational performance in its second-quarter results as its shares hit an all-time high in early morning deals on BSE on Tuesday (October 31, 2023). The stock hit an all-time high of Rs 1,640 the moment it started its session on Tuesday. It was trading flat at Rs 1608.15 at 9:37 am on Tuesday.

TVS Motors Q2 results

The automaker's profit jumped by 32 per cent while its revenues were up by 12.8 per cent in the September quarter results reported on Monday.

The company reported highest-ever EBIDTA margin of 11.1 per cent.  

What Jefferies says about TVS Motors shares

A majority of brokerages have raised the target of the stock. Jefferies has maintained a 'buy' rating on the stock, raising its target to Rs 2,000 from Rs 1,750.