TVS Motors still good; recent drubbing just a correction: Parag Thakkar, HDFC Securities

In a chat with ET Now, Parag Thakkar, Head-Institutional Sales at HDFC Securities shares his views on TVS Motors. Excerpts:

ET Now: TVS Motors has been meted out with serious punishment in the last couple of days. Have you looked closely at their numbers?

Parag Thakkar: TVS Motors saw significant re-rating because of their product launches like Jupiter and Star City. They have also said they will roll out a new product every quarter. The street is disappointed with the margins, because margin expectations ran very high and margins came at 5.7 per cent and the stock had run up significantly. Hence, it had to correct some amount. Directionally, the story remains good.