TVS Motor Share Price Hits Rs 2,000 Mark: Here's The Journey
The stock took 318 sessions to double since crossing Rs 1,000 for the first time on Sept. 1, 2022.
TVS Motor Co.'s share price crossed Rs 2,000 on Wednesday after the stock rose by over 4% during intraday trades.
The stock took 318 sessions—over 14 months—to double since crossing Rs 1,000 for the first time on Sept. 1, 2022.
It took 2,088 sessions for the stock to hit the milestone of reaching a four-digit per share value since reaching Rs 100 apiece for the first time on March 21, 2014.
The motorcycle manufacturer outperformed the benchmark Nifty Auto, growing by nearly 30% since the beginning of November, against the index's 13.2% growth.
Shares of the company have grown 86.3% since the beginning of the current calendar year, as against the index's 42% advance.
The NSE's'senchmark Nifty 50 has grown 15.6% over the same period.
Shares of TVS Motor were up 4.36% at Rs 2,022.3 apiece, compared to a 0.1% rise in the NSE Nifty 50 on Wednesday.
The stock rose 4.6% intraday to Rs 2,027 per share, the most in nearly five months since July 25. The average traded volume for the day stood at 2.1 times its monthly average. The relative strength index was at 84, indicating the stock may be overbought.
Of the 43 analysts tracking the company, 25 maintain a 'buy' rating, 11 suggest a 'hold' rating, and seven suggest a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a potential downside of 14.7%.
