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22 December, 2014 18:54 IST

Source: rss | 22-Dec-14
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Angel Broking has recommended 'Accumulate' on TVS Motor (TVSL) with a price target of Rs 45  in its report dated Dec. 04, 2012.

The management of TVS Motor (TVSL) has reiterated that the company is in talks with BMW's motorcycle division, BMW Motorrad for a technology tie-up and expects to finalize a partnership by end of FY2013.

Earlier in July 2012, TVSL had indicated that they are looking for technology collaboration with BMW Motorrad with an intention to widen its product portfolio and focus on the high-end motorcycles segment. While the exact nature of the partnership is not yet disclosed, reports indicate that the partnership will  likely involve a technology sharing pact and may also extend to joint marketing.

The broking firm sees this as a positive development for the company as the technological sharing pact will help TVSL acquire technological know-how to develop more powerful motorcycles and extend its premium product portfolio, where it currently has the Apache (160cc and 180cc).

While the development is certainly positive for the company in the long run, it is unlikely to alter the current positioning of the company in the domestic motorcycle industry in the near term as BMW currently offers products in the greater than 600cc category which has a very limited domestic market.

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T V S Motor Company Limited  

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