TVS Motor Company roars past Hero MotoCorp in market capitalisation

TVS has seen the highest earnings upgrades among auto makers over the last few months

TVS Motor Company, on Wednesday, overtook Hero MotoCorp in terms of market value to become the sixth-largest automobile company on market capitalisation. The former’s m-cap now stands at Rs 51,681 crore to the latter’s Rs 50,951 crore. Bajaj Auto, with Rs 104,872 crore, is the only two-wheeler manufacturer in the top five.

Shares of TVS have rallied 73 per cent this year while shares of Bajaj and Hero have risen only 3 per cent and 10 per cent, respectively. While sales, net profit and market share of TVS are lower than that of Bajaj and Hero, there are multiple triggers