BP Equities is bullish on TVS Motor Company and has recommended buy rating on the stock with a target price of 68.10 in its February 2, 2012 research report.

TVS Motor Company is a two-wheeler manufacturer in India. The Company manufactures a range of two-wheelers from mopeds to racing motorcycles. The Company’s products include mopeds, motorcycles and scooters, three wheelers and its parts. Its motorcycles products include Apache RTR 180, Flame DS 125, Flame, TVS Jive, StaR City, Sports. Variomatic Scooters products include TVS Wego, Scooty Streak, Scooty Pep+, Scooty Teenz. Mopeds products include TVS XL Super, TVS XL Heavy Duty.

TVS Motor Company (TVS) reported a 7.0 percent YoY increase in net revenues to 17.6 billion which was inline with our estimate of 17.9 billion in Q3FY12. On a sequential basis, revenue growth decreased by 11.5 percent in the same quarter. In Q3FY12, TVS reported a moderate growth of 7.0 percent YoY in top-line to 17.6 billion mainly due to a 1 percent volume growth to 529,681 units. We expect TVS to continue its volume momentum on the back of existing brands and upcoming new launches (new version of Apache & new Scooty) in Scooter and Motorcycle segments in Q4FY12 says BP Equities research report.

Currently TVS Motor is trading at 49.55. Its 52 week high is 70.30 and its 52 week low has been 43.60. It is trading with an average volume of 2,341,778 everyday.