TVS Motor Share Price Surges As EV Sales Prop Up Q3 Results

TVS Motor's stock rose as much as 5.3% during the day to Rs 2,350.5 apiece on the NSE.

TVS Motor exports increased by 22% to 1.04 lakh units last month, from 85,391 units in December 2023. (Photo source: Company website)

Shares of TVS Motor Co. surged over 5% on Tuesday after the automaker reported a 4.2% growth in the net profit for the December quarter, driven by sale of electric vehicles during the period.

Also Read: TVS Motor Q3 Results: Revenue Up 10%, Profit Surges On EV Sales

TVS Motor's stock rose as much as 5.3% during the day to Rs 2,350.5 apiece on the NSE. It was trading 5.2% higher, compared to a 0.96% advance in the benchmark Nifty 50 as of 01:35 p.m.

The stock has risen 19% during the last 12 months. The total traded volume so far in the day stood at 1.2 times its 30-day average. The relative strength index was at 51.

Nineteen out of the 42 analysts tracking the company have a 'buy' rating on the stock, 13 suggest a 'hold' and 10 have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 12.4%.

Also Read: Q3 Results Updates: BHEL Profit Surges 123%, Bajaj Auto Profit Up 3%, Hyundai Motor India Profit Falls 19%

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WRITTEN BY
Sai Aravindh
Sai Aravindh is a desk writer at NDTV Profit, where he covers business and ... more
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