Motilal Oswal Recommends 'BUY' on TVS Motor, Sets Target at Rs 4500

• Motilal Oswal reiterates a 'BUY' rating for TVS Motor Company with a target price of INR 4,500.
• TVS Motor has shown consistent market share gains in the two-wheeler segment over the last decade.
• The company achieved an earnings CAGR of 23% and improved RoCE to 36% from 22%.
• Recent product launches include an upgraded Raider, Orbiter EV, Apache 310S, and Ntorq 150, addressing product gaps.
• TVS plans to launch three new products from the Norton platform by FY27, showcasing global aspirations and tech capabilities.

Why It Matters: Motilal Oswal recommends buying TVS Motor, citing strong performance, product innovation, and future growth potential.