India's TVS Motor down as Radhakrishnan to step down as CEO

TVS Motor

28/08/2026 07:47

Updates
** Shares of TVS Motor TVSM.NS down 4.4% to 4215 rupees 
** India's third-largest two-wheeler maker names Peyman Kargar as CEO, effective Jan 27, 2027
** Kargar will replace K N Radhakrishnan, who has held the role since 2008
** Aishvarya Dadheech, founder and chief investment officer at Fident Asset Management said Kargar's appointment as CEO is a clear positive
** "The stock pullback looks like simple profit-taking after TVS's ~13% gain in 2026 so far, nearly 7x the auto index's 2% rise," he added
** Stock set for its worst session since May 18
** Shares were nearly flat prior to the announcement
** Avg rating of 37 analysts covering the stock is "buy" and median PT is 4,270 rupees - data compiled by LSEG
** YTD, TVSM up ~13%

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))