TVS Motor slips 2% as CLSA maintains sell, target at Rs 360

The firm has cut FY20-21 EPS estimate of the company by 11-16 percent.

Shares of TVS Motor Company slipped more than 2 percent intraday June 21 after brokerage house CLSA has maintained sell call on the stock with a target of Rs 360 per share.


The firm has cut FY20-21 EPS estimate of the company by 11-16 percent.

According to CLSA, the FY19 annual report provides a cautious commentary on the 2-wheeler industry, while India faces the pressure of elevated channel inventory & increased product costs.

It feels that the challenges also arising from the transition to BS-VI emissions norms in H2 and company expects competition to intensify further ahead of BS-VI implementation.

At 09:55 hrs TVS Motor Company was quoting at Rs 447.85, down Rs 10.80, or 2.35 percent on the BSE

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