HSBC upgrades TVS Motors stock to ‘buy’ from ‘hold’; raises TP to Rs 480

HSBC upgrades TVS Motors stock to ‘buy’ from ‘hold’; raises TP to Rs 480

TVS reported its highest quarterly margins (ebitda margin of 9.3%) in over a decade, despite, nearly 20% lower volumes compared to the peak (in 2Q19); a headwind from the BS-VI-led cost increase, and higher commodity prices.
Check the source here –Source, Financial Express.

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