From Rs 1 lakh to nearly Rs 3 crore: TVS Motor’s 27,852% rally has more steam left; here’s why – News Air Insight

Shares of two-wheeler major TVS Motor Company have delivered a massive 27,852% return since their listing in August 2000. An investment of Rs 1 lakh at the time would now be worth Rs 2.8 crore. With the government’s GST cut and the launch of its first hyper sport scooter on Thursday, experts believe the next leg of the rally could gain further momentum.

On Friday, TVS Motor shares hit a fresh lifetime high of Rs 3,500 before closing the day at Rs 3,426.90.

Having achieved near-term targets of Rs 3,450/3,500, TVS Motor shares are now in uncharted territory, said Nilesh Jain, Vice President, Equity Research Technical and Derivatives at Centrum Broking.

The stock is trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 2,991 and Rs 2,639.2, according to Trendlyne data. Momentum indicators RSI and MFI show it in the strongly overbought zone at 81 and 83.

Synonymous with brands like Apache and Ronin, TVS Motor Company’s stellar run is not a flash in the pan. The stock has consistently outperformed two-wheeler peers like Hero MotoCorp, Eicher Motors, and Bajaj Auto. It is also the oldest two-wheeler listing, compared to the others that debuted in 2003, 2004, and 2008, respectively.

In the past five years, TVS has delivered nearly 700% returns, compared to Hero’s 84%, Eicher’s 198%, and Bajaj’s 216%.Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said the stock is fairly valued and a candidate for buy on dips. While he did not suggest a target, he noted that TVS has a tendency to positively surprise investors.Brokerages Elara Capital, Axis Securities, and BNP Paribas remain positive on TVS’s prospects.

Also Read: GST cut impact: Vijay Kedia-backed Atul Auto jumps 14% as Modi govt slashes rate on three-wheelers to 18%

Three trigger points

1. GST boost
   Under GST 2.0, the government has slashed the Goods and Services Tax (GST) on two-wheelers with engine capacity up to 350 cc to 18% from 28%. The new rates become effective from September 22, coinciding with the beginning of Navratri.

TVS Motor’s portfolio spans motorcycles, scooters, electric two-wheelers, mopeds, and three-wheelers. The three-wheeler segment is also expected to benefit from the rate cut.

BNP Paribas believes the GST rate cut will lead to a price elasticity of 1.6x for two-wheelers, with higher elasticity for entry-level vehicles. It has estimated mid-teen percentage point growth in volumes.

1. August update
   TVS Motor Company reported record sales in August 2025, crossing the 5-lakh-unit milestone. Total two-wheeler sales grew 30% year-on-year to 490,788 units. Domestic two-wheeler sales rose 28%, while motorcycles grew 30%.
2. TVS NTORQ 150 launch
   The company launched the TVS NTORQ 150, billed as India’s quickest hyper sport scooter, powered by a 149.7 cc engine. It is being offered at a special introductory price of Rs 1,19,000 (ex-showroom, all India).

Also Read: BSE 500: 360 stocks sink in August, 65 crash in double-digits; KIOCL, Maruti & Godfrey Phillips shine up to 28%

(Note: Data inputs by Ritesh Presswala, Trendlyne. TVS Motor was listed on August 2, 2000. Returns are based on adjusted prices and calculated from August 12, 2000).

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)