TVS Motor Share: There is a bullish atmosphere in the auto sector giant TVS Motor. Shares of TVS Motor today rose 3.5 per cent to hit 52-week high of ₹1384. The stock ended the session up 0.30 per cent at 1339. The company is considered a top pick in the two wheeler sector and plans to expand aggressively.
What is the reason for the rise in TVS Motor shares?
TVS Motor’s Singapore-based subsidiary bought an additional 25 per cent stake in Switzerland-based Swiss E-Mobility Group (SEMG), triggering a sharp rise in shares. TVS Motor said in a statement that TVS Motor Singapore is ready to buy an additional 25 percent stake in Switzerland’s Swiss E-Mobility. TVS Motor wants to register its presence in the market and for this it is increasing its stake in the e-mobility company. In 2022, TVS Motor through its Singapore-based subsidiary bought 75 per cent stake in the e-mobility company.
TVS Motor shares closed at 1339 today. In the last one year, this stock has increased by more than 78 percent. If we look at the performance from January 2023 till now, it has increased by 25 percent. While TVS Motor’s share has increased by more than 29 per cent in the last six months. TVS Motor’s stock has given a return of 8.50 per cent in a month.
TVS Motor’s 52-week high of Rs. 1384 while the 52 week low was Rs. There are 722. A year ago, if there was a withdrawal of Rs 1 lakh in TVS Motor shares, its value would have increased to Rs 1.78 lakh. Had one lakh shares of this company been bought six months ago, it would have been worth Rs 1.29 lakh today.
What are brokerage firms saying about TVS Motor shares?
Brokerage firm Macquarie has given outperform rating on TVS Motor shares and has a buy recommendation on the shares. Macquarie has target price of Rs 1418 on TVS Motor shares. Macquarie’s top picks include TVS Motors. In the fourth quarter of FY 2023, TVS Motor Company registered a 49 percent increase in net profit and its profit stood at Rs 410 crore.
In the recently concluded fourth quarter, TVS Motors sold 868,417 units as against 856,446 units sold in the same quarter a year ago.
