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Last Updated : May 02, 2019 03:11 PM IST | Source: Moneycontrol.com

Hold TVS Motors; target of Rs 530: Sharekhan

Sharekhan recommended hold rating on TVS Motors with a target price of Rs 530 in its research report dated April 30, 2019.

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Sharekhan's research report on TVS Motors


Q4 FY19 results missed estimates as margins dropped due to operating deleverage, increased commodity prices and discounting. Margin contraction trend is expected to sustain due to higher regulatory costs and increased competitive intensity amid subdued industry demand. At CMP the stock is at the higher end of its long term historical multiples, leaving scope of limited upside from the current levels.


Outlook


We downgrade our recommendation on the stock of TVS Motor Company (TVSM) to “Hold” from “Buy” with a revised PT of Rs 530.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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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First Published on May 2, 2019 03:11 pm
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