Shares of TVS Motor Company, a prominent two-wheeler and three-wheeler manufacturer, rose by 2.42% to ₹3,472.60 following a bullish upgrade from a foreign brokerage, which raised its rating from 'Neutral' to 'Buy' and set a target price of ₹4,100, indicating an 18% upside potential. The brokerage cited strong growth visibility and improving fundamentals, highlighting that TVS is expected to outperform industry growth with projected volume increases of 14%, 11%, and 10% over the next three fiscal years (FY27 to FY29). Notably, TVS Motor's sales surged 25% year-on-year in March 2026, reaching 5.19 lakh units, with electric vehicle sales alone increasing by 44%. The company's standalone net profit also saw a significant rise of 52.04% to ₹940.37 crore in Q3 FY26, driven by a 37.14% increase in revenue, totaling ₹12,476.26 crore. However, the brokerage flagged risks such as commodity price fluctuations, regulatory changes, and intensifying competition in the electric two-wheeler market.