Buy TVS Motors; target of Rs 650: Sharekhan

Sharekhan's research report on TVS Motors

For Q3FY19 TVSM reported a strong set of numbers across parameters; nos were marginally ahead of estimates. The recent launches of TVSM have generated a sturdy demand and enabled it to gain market share. With a healthy launch pipeline and robust export outlook, TVSM will continue to outpace industry growth.

Outlook

We retain Buy rating on the stock of TVS Motors (TVSM), our preferred pick in 2W, with a revised PT of Rs 650.