India's TVS Motor falls after Q3 profit miss

TVS Motor

29/01/2026 04:25

** Shares of TVS Motor TVSM.NS fall as much as 1.9% to 3,657.30 rupees

** Co missed Q3 profit view due to a one-time charge linked to new labour codes, although strong two-wheeler demand and export growth boosted sales

** Profit jumped 52% to 9.4 billion rupees vs analysts' estimates of 9.8 billion rupees, per data compiled by LSEG

** Jefferies remains positive on two-wheeler demand, and like TVSM's rising domestic and export franchise but sees the recent metal price rally posing some margin pressure over next few quarters

** ICICI Securities expects TVS' outperformance to continue led by ramp-up in EV volumes, new product launches and premiumisation

** Analysts have a "buy" rating on avg; median PT is 4,100 rupees - data compiled by LSEG

** TVSM down 1.7% so far in January

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))