In early morning trading, shares of TVS Motor, the top two-wheeler maker in India, increased by 4.10%, hitting an all-time high of ₹2,818 per share. This increase happened after the international brokerage house UBS increased its target price for the company from ₹3,000 to ₹3,200 while maintaining its ‘buy’ rating.
Following the launch of the brand-new Jupiter 110 scooter, which has a next-generation engine and first-in-class, futuristic features, the target price was raised.
According to the company’s most recent annual report, the Jupiter model has been crucial to the company’s success in the scooter market, resulting in a 16.5% year-over-year rise in domestic sales to 1.45 million units in FY24. Jupiter is the primary cause of this growth.
As of 10:28 am, TVS Motor shares were trading 2.90% higher at Rs 2,784.75 on the NSE.
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