Brokerage raises TVS Motor’s target price to ₹4,650 after Q2 results

Brokerage Prabhudas Lilladher raised its target price for TVS Motor to ₹4,650 from ₹4,500, maintaining an ‘Accumulate’ rating following its strong Q2 FY27 results. It expects revenue, EBITDA and adjusted profit to grow annually by 17%, 18.9% and 21.4%, respectively, during FY26-FY29. It also highlighted TVS Motor’s plan to demerge its consumer finance business into a separately listed company.