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Jefferies retains Buy on TVS Motor, sees 24% upside to ₹5,425

Jefferies retained Buy ratings on TVS Motor, Turtlemint and Emmvee. Its TVS thesis cites EVs, exports, premiumisation and margin gains; Turtlemint benefits from India’s growing POSP insurance-distribution channel and improving profitability.

Newer report on another story , , Business Today : TVS Motor targets 50,000+ electric scooters a month within three months

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Reported figures

From the report. Source details below

Turtlemint target price: Rs 190; implied upside: 37%
Emmvee target price: Rs 440; implied upside: 38%
TVS expected volume CAGR: 13% and EPS CAGR: 24% during FY26-FY29
Turtlemint expected revenue CAGR: 38% over three years; adjusted EBITDA margin: 10% by FY29
Emmvee planned cell capacity: 8.9 GW and module capacity: 16.3 GW by FY27

The source

Source Read the source at Financial Express

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