Momentum Pick: Will current triggers help TVS Motor stock take a fresh leap?

TVS Motor Company stock has seen a steady upward trend and offers good prospects due to its strong Q4FY23 earnings figures. Being the third largest two-wheeler manufacturer in India, it has outperformed the Nifty50 index, gaining almost 95% in a year. The company is the only manufacturer in India present across all three categories of two-wheelers. The stock has confirmed its ‘consolidation’ breakout, exhibiting a pattern resembling the “rounding bottom,” indicating the continuation of the uptrend. Furthermore, it offers an increased momentum near its all-time territory, according to analysts. Sharekhan maintains a ‘buy’ rating with a target price of Rs 1,303.