Hold TVS Motor Company, target Rs 440 : Geojit BNP Paribas Financial Services

Geojit BNP Paribas Financial Services has a hold call on TVS Motor Company Ltd. with a target price of Rs 440 .The current market price of TVS Motor Company Ltd. is Rs 391.4 The time period given by the brokerage is a year when TVS Motor Company Ltd. price can reach the defined target. The brokerage said the company posted robust growth of 21% YoY in revenues on the back of 22% volume growth in two-wheelers. It said the new launch from the BMW JV is expected by Q4FY17 and will give higher revenue visibility for FY18