Citi maintains ‘sell’ on TVS Motor, sees 26.2% downside despite strong Q4 results and PLI benefits
Citi has maintained its ‘sell’ rating on TVS Motor Company, while raising the target price to ₹2,050 from ₹1,800 earlier. The revised target suggests a potential downside of around 26.2% from the current market price (CMP) of ₹2,778.20.
The brokerage noted that TVS Motor’s Q4 results were above expectations, supported by healthy average selling prices (ASPs) and benefits from the Production Linked Incentive (PLI) scheme.
Despite the strong quarterly performance and a positive broader industry demand outlook, Citi has chosen to remain cautious, maintaining its sell rating on valuation concerns.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
