Street View: India's TVS Motor set for premiumisation, EV demand boost

TVS Motor

29/10/2026 06:17

** India's TVS Motor Company TVSM.NS posted a 52% rise in quarterly profit, above analyst estimates
** Co to spin off consumer-finance business into a separately listed entity
** Shares down 0.35% at 4,224.90 rupees

BETS TO PAY OFF
** Emkay ("buy", raises TP by 5.7% to 5,600 rupees) favours TVS on premiumisation-led growth, market share gains across categories, resilient margins, and being a key beneficiary of the EV transition
** Centrum ("neutral", TP of 4,300 rupees) says premiumisation to drive growth for TVS; sees larger share of sales to come from electric scooters, electric three-wheelers
** ICICI Direct Research says TVS' combined ICE and EV scooter category share of about 41%, together with planned two-wheeler and three-wheeler capacity approaching 0.4 million units, provides solid foundation for future growth
** Nomura ("buy", TP raised to 4,605 rupees from 4,240 rupees) says TVS credit book size was 338 billion rupees  ($3.55 billion), which will be demerged, listed and is expected to drive value unlocking

($1 = 95.2200 Indian rupees)

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))