TVS Motor shares plunge 2.7%

Reuters | Updated on January 24, 2018 Published on March 30, 2015

Shares of TVS Motor Co Ltd today fell 2.7 per cent as brokerage CLSA has initiated a ‘sell’ rating with a target price of Rs 190 rupees, citing sky-high expectations.

It says earnings will rise but miss consensus estimates sharply.

“After a strong 23 per cent growth in FY15, we expect TVS volume CAGR to come down to 10 per cent over FY15-18,’’ it says.

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Published on March 30, 2015
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