Buy TVS Motor With Stoploss Of Rs 90

Buy TVS Motor With Stoploss Of Rs 90Technical Analyst Ashwani Gujral has maintained 'buy' rating on TVS Motor Ltd stock to achieve an intraday target of Rs 104.

According to Mr. Gujral, the investors can buy the stock with stop loss of Rs 90.

The shares of the company, on May 27, closed at Rs 97.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 104.90 and a low of Rs 40.50 on BSE.

Current EPS & P/E ratio stood at 5.25 and 18.99 respectively.

TVS Motor recorded a surge of 28% in its sales for the month of April.

India's two-wheeler maker sold 144,689 units as compared to 113,119 units sold during the comparable period last year.

The company recorded an increase of 22% in its domestic two wheeler sales, which stood at 125,471 units in April 2010 as against 102,985 units in April 2009.

TVS Motor sold 2,483 three wheelers in the month under review, while it exported 19,218 units as against 10,134 units in April 2009.

Moreover, the company has planned to make an investment of Rs 150 crore in 2010-11 to increase its production capacity and in research and development.

After making investment, the company's production capacity will be increased from 2.2 million units to around 2.8 million units.

The expansion will be funded through the free cash available with the company.