The share price of TVS Motor Company rose nearly two per cent after foreign research firm UBS maintained a buy rating on the stock with a target of Rs 1,000. The research firm expects TVS Motor Company to make a recovery on the basis of several catalysts. He said finding a financial investor for electric vehicles (EVs) could push the stock higher, while investors are eager to track the monetization of the EV subsidiary.
The company registered a total sales of 281,714 vehicles in February 2022 as compared to 297,747 units sold a year ago.
The total two-wheeler sales in February 2022 stood at 267,625 units as against 2,84,581 units a year ago. Domestic two-wheeler sales stood at 1,73,198 units in February 2022 as against 195,145 units a year ago.
Motorcycle sales grew 5% year-on-year to 1,43,523 units in February 2022 and scooter sales stood at 86,616 units in the same period as against 95,525 units a year ago.
On a year-on-year basis, total exports grew by 6% to 1,07,574 vehicles and three-wheeler sales increased 7% to 14,089 units in February 2022.
Total two-wheeler sales stood at 267,625 units in February 2022 as against 2,84,581 units a year ago. Domestic two-wheeler sales stood at 1,73,198 units in February 2022 as against 195,145 units a year ago.
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Motorcycle sales grew 5% year-on-year to 1,43,523 units in February 2022 and scooter sales stood at 86,616 units in the period under review as against 95,525 units a year ago.
Year-on-year, total exports grew by 6% to 1,07,574 units and three-wheeler sales by 7% to 14,089 units in February 2022.
The company has also announced the launch of a vehicle in the 125cc segment called TVS Raider for young customers in Latin America (LATAM) countries.
Today at 09:19 pm, the share of TVS Motor Company was trading at Rs 601.50, up Rs 3.75 or 0.63 per cent on the BSE.
The stock had hit a 52-week high of Rs 793.45 on 9 November 2021 and touched its 52 week low of Rs 495 on 24 August 2021.
Currently, the share of TVS Motor is trading down 24.19 per cent from its 52-week high and 21.52 per cent above its 52-week low
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