TVS Motors’ shares surged by 7% after JP Morgan reaffirmed its “Overweight” rating with a target price of ₹3,130, citing strong operational performance and impressive margin expansion. The positive outlook comes after the company reported Q3 FY25 results, which met market expectations.
JP Morgan raised its margin forecast for FY25, driven by TVS Motors’ management confirming that all PLI (Production-Linked Incentive) benefits for the fiscal year will be reflected in the March quarter. The firm had already accounted for PLI benefits for FY26-27, meaning the near-term upside is expected to boost earnings momentum significantly.
In the meantime, TVS Motor Company posted impressive financial results for the quarter ending December 31, 2024, reporting a 10.1% year-on-year (YoY) growth in revenue, which reached ₹11,134.63 crore. Although there was a slight sequential decline compared to the previous quarter, the company demonstrated strong performance across its segments. Additionally, the company saw a notable rise in its net profit, which surged 19.5% YoY to ₹609.35 crore, compared to ₹509.61 crore in the third quarter of FY24.
TVS Motors shares opened at ₹2,359.00 and reached a high of ₹2,539.20 with a low of ₹2,356.80 today. The stock has seen significant fluctuations in the past year, with its 52-week high standing at ₹2,958.00 and its 52-week low at ₹1,873.00.
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