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TVS Motor’s Inventory Jumps Most In Over Six Years Amid A Flurry Of Goal Worth Upgrades


 Shares of TVS Motor Co. jumped essentially the most in additional than six years after analysts hiked value targets for the two-wheeler maker citing improved exports outlook, new launches and value cuts, amongst others.

The corporate witnessed its income develop by greater than 50% and internet revenue bounce threefold over the year-earlier within the quarter ended March. It additionally reported its highest-ever working revenue, whereas home volumes and exports surged throughout the reported interval.

Its revenue rose 3% over the previous fiscal to Rs 612 crore in FY21 regardless of reporting a lack of Rs 139 crore within the first quarter as a result of Covid-19 lockdown.

Key This autumn highlights (YoY)

  • Income from operations rose 53% to Rs 5,322 crore.
  • Revenue after tax stood at Rs 289 crore towards Rs 74 crore in the identical interval of FY20.
  • TVS’ two-wheeler home gross sales grew 41%, whereas exports jumped 74%.
  • Earnings earlier than curiosity, tax, depreciation and amortisation greater than doubled at Rs 536 crore.
  • Its margin stood at 10.1% on the again of “sturdy development in income coupled with continued focus in price discount initiatives”. Ebitda margin was 7% in Q4FY20 and 9.5% in Q3FY21.
  • TVS Motor offered 9.28 lakh two and three-wheelers throughout the reported quarter, a development of 47% over the yr earlier.

Shares of the corporate jumped as a lot as 17.25%—the most important since September 2014—to Rs 664 apiece round 11 a.m. on Wednesday. The inventory, nonetheless, pared a few of the features to commerce 14.06% greater at Rs 645.90 apiece.

Of the 43 analysts monitoring TVS Motor, 23 have a ‘purchase’ ranking, eight counsel a ‘maintain’ and 12 suggest a ‘promote’, in line with Bloomberg knowledge. The common of the 12-month consensus value targets implies a draw back of 6.3%.

Read more at: https://www.bloombergquint.com/markets/tvs-motors-stock-jumps-most-in-over-six-years-amid-a-flurry-of-target-price-upgrades

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