TVS Motor Declares Rs 8/Share Interim Dividend: Buy To Be Eligible?

With a market valuation of Rs 1,07,730.75 Cr, TVS Motor Company's shares closed Monday's trading session on the BSE 0.33% higher at Rs 2267.60 a share. The spike in the value of the shares took place after the company declared an interim dividend of 800% for FY24. With its headquarters located in Chennai, TVS Motor Company is a multinational Indian motorcycle manufacturer. The scrip reached a 52-week-high of Rs 2,313.90 on (07/03/2024) and a 52-week-low of Rs 1,019.90 on (20/03/2023).

TVS Motor Company Dividend

"The Board of Directors of the Company at its meeting held today, declared an interim dividend of Rs. 8/- per share (800%) on 47,50,87,114 equity shares of Re.1/- each fully paid up, absorbing a sum of Rs. 380 Cr, for the financial year ending 31st March 2024. The interim dividend declared will be paid to those shareholders, who hold shares in physical form and / or in electronic form and whose names appear in the Register of Members and / or Depositories respectively, as at the close of working hours on 19th March 2024, being the Record Date fixed by the Company for this purpose. The dividend payment will made within a period of 30 days from the declaration of interim dividend, as provided in the Companies Act, 2013," TVS Motor Company said in a regulatory filing on 11th March 2024.

TVS Motor News

According to a recent announcement made on 8th March 2024, TVS Motor Company (TVSM) will be showcasing its product line for Europe at the Salon du Deux Roues, Lyon, until March 10, 2024. TVS Motor has made an announcement about its presence in France by attending one of the top automobile exhibitions in Europe. The company has partnered with Emil Frey, a 100-year-old enterprise.

Mr. Sharad Mohan Mishra, President, Strategy, TVS Motor Company, said, "Our participation marks a significant milestone. Engaging with enthusiasts at this esteemed event enhances our visibility in France. We invite attendees to explore our pavilion and witness TVS Motor's engineering, quality, and design prowess."
With its products already sold in 80 countries, TVS Motor is the third most valuable company in the world by market capitalization and the fourth largest maker of two- and three-wheelers worldwide.

TVS Motor Company Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said TVS Motor Company (TVSMOTOR) is currently trading at Rs 2267, fluctuating within the range of Rs 2200 to Rs 2310 and displaying indications of preparing for a breakout. The formation of new higher highs and higher lows suggests a potential upward movement, with projected targets at Rs 2400 and Rs 2500. Importantly, there is substantial support observed around Rs 2170.

Furthermore, TVSMOTOR is trading above crucial Exponential Moving Averages (EMAs), including the 20-day, 50-day, 100-day, and 200-day EMAs, indicating a robust bullish momentum. The Relative Strength Index (RSI) stands at 66.8, confirming an upward trajectory and signalling increased buying momentum.

A prudent strategy involves considering buying opportunities during market dips, especially around the Rs 2215 level. In summary, based on technical analysis and current market conditions, TVSMOTOR appears to offer a promising buying opportunity for those aiming at price objectives of Rs 2400 and Rs 2500, contingent upon the implementation of prudent risk management measures.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.