Sell TVS Motor Company, target price Rs 1030: Nuvama Wealth

Nuvama Wealth has sell call on TVS Motor Company with a target price of Rs 1030.The current market price of TVS Motor Company is Rs 1077.05. Nuvama Wealth brokerage recommended to keep stop loss at Rs 1150.

TVS Motor Company, incorporated in the year 1992, is a Large Cap company (having a market cap of Rs 51361.67 Crore) operating in Auto sector.

TVS Motor Company key Products/Revenue Segments include Automobile - 2 & 3 Wheelers, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 8075.06 Crore, down -6.00 % from last quarter Total Income of Rs 8590.56 Crore and up 22.23 % from last year same quarter Total Income of Rs 6606.22 Crore. Company has reported net profit after tax of Rs 314.62 Crore in latest quarter.

The company’s top management includes Mr.Venu Srinivasan, Mr.R Gopalan, Mr.Hemant Krishan Singh, Mrs.Lalita D Gupte, Dr.Lakshmi Venu, Mr.C R Dua, Mr.T Kannan, Mr.H Lakshmanan, Mr.K N Radhakrishnan, Mr.Sudarshan Venu, Prof.Sir Ralf Dieter Speth, Mr.Kuok Meng Xiong. Company has V Sankar Aiyar & Co. as its auditors. As on 31-12-2022, the company has a total of 48 Crore shares outstanding.

Investment Rationale
Retest of December 2022 swing high followed with a negative divergence on RSI.

Promoter/FII Holdings
Promoters held 50.27 per cent stake in the company as of 31-Dec-2022, while FIIs owned 14.45 per cent, DIIs 26.83 per cent.