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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 .
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