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TVS MOTOR COMPANY LTD.

NSE : TVSMOTORBSE : 532343ISIN CODE : INE494B01023Industry : Automobile Two & Three WheelersHouse : TVS Iyengar
BSE382.50-7.05 (-1.81 %)
PREV CLOSE ( ) 389.55
OPEN PRICE ( ) 388.50
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 91598
TODAY'S LOW / HIGH ( )377.25 388.50
52 WK LOW / HIGH ( )240.1 503
NSE382.50-7.05 (-1.81 %)
PREV CLOSE( ) 389.55
OPEN PRICE ( ) 383.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 382.50 (1336)
VOLUME 1859411
TODAY'S LOW / HIGH( ) 377.00 389.15
52 WK LOW / HIGH ( )240.1 504
AnalystDate01 Jun 2020
BSECode532343
BlogURLNA
NoteDescriptionThe automobile industry volumes are impacted for the period due to low demand senment, increased prices on account of BS VI and worsened by the recent COVID-19 outbreak. However, pickup in demand is expected from 2HFY21 considering the improvement in rural demand scenario, beer monsoons and government’s thrust on the revival of the overall economy. Going ahead, margins are expected to remain on the lower side due to higher BS-VI cost and weaker operang leverage despite reducon in commodity prices. We value standalone business at 19x FY21e EPS and TVS credit services at Rs.61 per share to arrive at a target price of Rs.400 and maintain NEUTRAL.
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