Beat estimates on all counts; Maintain Hold We maintain our Hold rating on TVS Motor (TVS) with a TP of Rs567 as the company reported a strong operational performance during 2QFY19, above our estimates. The management highlighted that company will not go for any price discounting for its products and despite several headwinds, the company has posted moderate growth during on-going festival season. We believe TVS is on the right track with exposure to high-growth segments - scooters and premium bikes and lucrative export markets. With the export markets recovering, the company is set to maintain its growth momentum....