UBS ON TVS MOTOR ; BUY | TARGET ₹5,630

• Norton unveils new 450cc roadster motorcycle, with global launch including India planned for 2027. • Expected pricing around ₹5 lakh, targeting the premium motorcycle segment. • India-based manufacturing expected to expand Norton's addressable market. • New 450cc model to complement Norton's premium Manx and Atlas motorcycles. • UBS believes Norton's long-term growth potential remains underappreciated.

TVS MOTOR COMPANY LTD

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