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Jun 17, 2010, 05.01 PM IST
Anand Rathi Securities is bearish on TVS Motor Company and has recommended sell rating on the stock with a target of Rs 91 in its June 2, 2010 research report
“For the month, TVS Motor Company reported good 31.6% yoy volume growth (and 8.7% mom) to 156980 units. This was driven by three-wheelers (217.3% yoy, though from a lower base) and scooters (41.8% yoy, 18.7% mom). YTD volume growth is a healthy 30.5% yoy. Residual growth estimate is 8.7%. The stock trades at 15x FY11e EPS, making it fairly valued. We have a sell rating,” says Anand Rathi securities research report . Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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