The $300 million to $350 million investment would value TVS at about $3 billion to $3.5 billion, likely making it India's most valuable EV two-wheeler manufacturer, ET said
Domestic demand is expected to improve sequentially in 4Q, supported by better rural market sentiment on the back of strong rabi crop sowing and higher MSPs.
Stocks to Watch: Bajaj Auto, Cipla, Dr.Reddy's, Tata Elxsi and Tata Motors are some of the prominent companies to announce Q3 results on Wednesday.
Operating EBITDA grows 16% to Rs 659 crore, EBITDA margin flat at 10.1%
TVS', which operates in 80 countries including South Africa, Argentina and Sri Lanka, revenue from operations rose to Rs 6,545 crore from Rs 5,706 crore
Prominent promoters have recently offloaded stake in companies like TVS Motor, GMM Pfaudler via block deals, few others plan to do so in the near future.
Coal India, SBI and Adani Enterprises continue to trade with a robust bullishness, while TVS Motor and Bajaj Finance seem to be struggling to hold their ground, technical charts show.
Automobile stocks like Tata Motor, M&M, HeroMoto Corp, and TVS motors need to cross significant hurdle to rally further
At 09:15 am, around 2.6 million or 0.55 per cent holding of the company changed hands at the counter on the BSE, the exchange data shows.
M&HCV segment witnessed mixed performance while LCV segment witnessed near double digit de-growth leading to overall de-growth in CV space.
Sector to see volume, margin gains on demand uptick, easing supply issues
Revenue from operations up 32% to Rs 8,561 cr; chip shortage hinders an even better show
Domestic two-wheeler sales registered growth of 7 per cent increasing from 258,777 units in October 2021 to 275,934 units in October 2022
On the other hand, Bajaj-Auto and Hero Moto Corp need to adhere their key supports levels to keep the positive bias intact.
The company said it has had a robust start to the festive season and the demand is expected to further accelerate during the season.
TVS has seen the highest earnings upgrades among auto makers over the last few months