/Buy TVS Motor Company, target price Rs 585: Edelweiss

Buy TVS Motor Company, target price Rs 585: Edelweiss

Edelweiss has buy call on TVS Motor Company with a target price of Rs 585. The current market price of TVS Motor Company Ltd. is Rs 542.75.

TVS Motor Company Ltd., incorporated in the year 1992, is a Large Cap company (having a market cap of Rs 25785.35 Crore) operating in Auto sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 5254.36 Crore, up 170.89 % from last quarter Sales of Rs 1939.65 Crore and up 5.93 % from last year same quarter Sales of Rs 4960.27 Crore. Company reported net profit after tax of Rs 184.19 Crore in latest quarter.

Investment Rationale
TVS Motor has given a fresh breakout after taking support around 500. It has also closed above its previous swing high of 530. Higher volumes indicate higher strength on breakout.

Promoter/FII Holdings
Promoters held 57.39 per cent stake in the company as of March 31, 2020, while FIIs held 11.37 per cent, DIIs 21.01 per cent and public and others 10.04 per cent.

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