Sharekhan Recommends Buying TVS Motor Company with a Target Price of Rs 1769

In its research report dated October 3, 2023, Sharekhan expresses a bullish sentiment towards TVS Motor Company, recommending a buy rating on the stock with a target price of Rs 1769.

The report highlights the recovery of export volumes for TVS Motor Company, surpassing 1 lakh units in September 2023, marking the first time since July 2022. Additionally, TVS Motor Company is actively targeting an increase in electric vehicle (EV) production and plans to expand its EV portfolio in the coming months. Currently, the stock is trading at a price-to-earnings (P/E) multiple of 23.8x and an enterprise value-to-earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) multiple of 13.2x, based on its FY2026E estimates.

The outlook for TVS Motor Company remains positive, with Sharekhan maintaining a BUY rating on the stock and revising the target price to Rs 1769. This optimism is driven by the anticipation of a gradual revival in export volumes, the successful introduction of new EV models, and the potential for the company to sustain high EBITDA margins.

This research report offers valuable insights for investors considering TVS Motor Company, emphasizing the company’s strategic focus on expanding its EV portfolio and its recovery in export volumes, which could contribute to its future growth and profitability.

Disclaimer: The views and investment tips expressed by investment experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.​​
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