TVS Motor shares in focus after hyper scooter launch and Nomura upgrade

Shares of TVS Motor are likely to be in focus on Friday after the company unveiled a new performance scooter and brokerage Nomura raised its target price on the stock, citing a stronger product pipeline across both electric and internal combustion engine (ICE) segments.

On Thursday, TVS Motor announced the launch of the NTORQ 150, described as India’s first hyper sport scooter designed for Gen Z riders. Priced at an introductory Rs 1.19 lakh (ex-showroom, all India), the scooter comes with a race-tuned 149.7cc engine, aggressive styling, and connected features aimed at younger, performance-oriented buyers. The 150cc model is positioned to compete with the Aprilia SR160 and Yamaha Aerox 155.

Nomura’s bullish view

In a note on Thursday, Nomura reiterated its “Buy” rating on TVS Motor and raised its target price to Rs 3,949 from Rs 3,231 earlier. The brokerage said the NTORQ 150 strengthens TVS’s ICE scooter lineup, while the upcoming Orbiter, a sub-100cc electric scooter, broadens its urban EV portfolio.Nomura expects TVS to outperform the broader two-wheeler industry, driven by new product launches, rising scooter market share, and robust exports. It projects EV volumes to rise 42% YoY to 3.87 lakh units in FY26 and a further 24% to 4.80 lakh units in FY27. ICE scooter volumes are forecast to grow 15% in FY26 and 10% in FY27.

The brokerage also sees domestic volumes climbing 14% in FY26 and 10% in FY27, with EBITDA margins improving from 12.3% in FY25 to 15.1% by FY27.
Also read | TVS launches NTORQ 150 hyper scooter for Gen Z riders: Check range, design and price details here

Stock performance and technicals

Shares of TVS Motor have gained 3% so far in 2025 but are down 2% over the past 12 months. From a technical perspective, the stock is trading above all eight key simple moving averages (5-day through 200-day), indicating bullish undertones across both short- and long-term charts.
The Relative Strength Index (RSI) stands at 80.9, indicating overbought conditions and a potential near-term pullback. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 127.7, above both the center and signal lines, reinforcing the prevailing bullish momentum.

Also read | Profit-taking in consumption sectors won’t end GST rally: Analysts

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