After the business announced the introduction of its updated Jupiter 110 two-wheeler on Thursday, shares of TVS Motor business jumped 4% on Friday to reach a new all-time high of Rs 2,818 on the BSE. Subsequently, the international brokerage house UBS increased its target price of Rs 3,200 for the shares, signifying an 18% potential upside.Â
The top carmaker unveiled the new TVS Jupiter 110, which has cutting-edge, first-in-class features and a next-generation engine. The 113.3 cc engine of the scooter has an ISG controller, a high-performance battery, and an integrated starting generator.
Scooter Range led by TVS Jupiter
Body Balance Tech 2.0, double helmet space, a completely digital color LCD, an infinity light bar, an LED headlamp, a follow-me lamp, and a front fuel fill are among the additional features. For the past ten years, the TVS Motor scooter range has been led by the TVS Jupiter 110.
Over the course of the last ten years, TVS Motor scooters’ flagship model, the TVS Jupiter 110, has been owned by 6.5 million households. TVS Motor’s Senior Vice President, Head Commuter Business and Head Corporate Brand & Media, Aniruddha Haldar, commented on the launch, saying that over 6.5 million households have trusted the brand throughout time, making it one of the largest automotive brands in India. Global stockbroker UBS increased the target price after the debut.
Rise In Stock
According to UBS, the new Jupiter is a notable improvement over its predecessor and comparable models at a comparable cost. Additionally, according to UBS, the new Jupiter can support an extra 15-20K volumes, or 7% and 5% of overall TVS volumes and dom 2W volumes, respectively.
In the next months, the company is anticipated to introduce a brand-new e-2W and make a move into the e3W category, providing additional catalysts. TVS Motor Company’s stock has risen 38% so far this year and has produced multibagger returns of 105% in the previous year.
