It is because of the perception of the market. TVS is growing at a high rate in the premium segment, whereas Hero’s presence there is miniscule. Now, whatever growth is expected in future is majorly from the premium segment. So, that’s the reason.
But the good thing is that Hero is also introducing new products in the premium segment, and as and when they start delivering, I’m hopeful the market will surely give higher valuations to Hero too. Atleast that’s my thinking about buying Hero.
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