Shares of TVS MotorCo. dropped the most in four months, erasing all earnings made after the two-wheeler maker extended cooperation with BMW Motorrad for unborn technologies and electric vehicles. The stock closed5.70 lower at Rs635.35 on Thursday, and was the worst pantomime in the Nifty Auto Index, according to Bloomberg data. The shares had jumped as much as 7 on Wednesday and ended 2 advanced
TVS Motors onDec. 15 blazoned that it’s expanding the compass of its cooperation with BMW Motorrad to new platforms and unborn technologies, including electric vehicles. Exclusive products for both companies will be developed on these common platforms, and they will vend products encyclopedically The first product under the cooperation will be launched in 24 months. TVS and BMW, according to a Morgan S
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TVS and BMW, according to a Morgan Stanley report, started their cooperation in April 2013, and in the alternate quarter ended September, TVS vended around BMW motorcycles — representing about1.5 of its total motorcycle volumes.
The exploration house remains‘ light’on TVS Motor due to rising EV competition, weak underpinning demand in two-wheelers and decoration valuations. The company trades at 24 times estimated FY24 earnings versus 12 times for Bajaj AutoLtd., the report said. Morgan Stanley has set a price target of Rs 604 all, a strike of 10, for TVS Motor.
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