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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

TVS Motor, one of the country’s largest two-wheeler and three-wheeler manufacturers, had its shares surge by 5.6% in early morning trade, hitting an all-time high of ₹2618. The company reported a good set of figures for the quarter ending in June.

During Tuesday’s post-market hours, the company said that its income from operations increased by 16% to ₹8,376 crore, up from ₹7,218 crore in the quarter that ended in June 2023.

Compared to ₹764 crore in the first quarter of 2023–24, TVS Motor had its highest operational EBITDA of ₹960 crore in the first quarter of 2024–25, a rise of 26%. Operating EBITDA margin increased to 11.5% from 10.6% in the quarter ended June 2023, a rise of 90 basis points.

In the first quarter of 2023–24, the company’s profit after tax (PAT) was ₹468 crore, but in the current quarter, it increased by 23% to ₹577 crore.

As of 11:03 am, TVS Motor shares were trading 3.94% higher at Rs 2,576.45 on the NSE.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.