TVS Motor Positioned for Growth Amid Rising Scooterisation and Premiumisation Trends

continues to attract market attention as analysts highlight its strong positioning in the evolving two-wheeler landscape. Morgan Stanley maintained an Overweight rating with a price target of ₹4,022, noting stable performance despite slightly lower margins. Jefferies retained a Buy with a target of ₹4,300, citing 23% YoY volume growth, 40–44% improvement in EBITDA and PAT, and a healthy EBITDA margin of 12.7%. Nomura also maintained a Buy with a target of ₹3,970, expecting a 14% volume rise in H2 and further margin expansion supported by new product launches and EV growth. Meanwhile, Citi stayed cautious with a Sell and a target of ₹2,750, flagging high valuations and rising competition as potential risks. Overall, TVS is expected to deliver a 16% CAGR in volumes and 27% CAGR in earnings over FY25–28, supported by steady festive demand, export momentum, and continued traction in premium and electric vehicle segments reinforcing its position as a key player in India’s two-wheeler growth cycle. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.