Tata Motors Commercial Vehicles (TMCV) shares made their debut on the stock market after the company’s demerger became effective on October 1.
The shares were listed on the NSE at ₹335 per share and on the BSE at ₹330.25 per share.
On the NSE, the listing price was 28.48% higher than its base price of ₹260.75, while on the BSE, it was 26.09% higher than the previous price of ₹261.90.
A total of 368 crore equity shares with a face value of ₹2 each have been listed under the ticker symbol ‘TMCVL’ in the ‘T’ Securities Group.
To ensure smooth price discovery, the shares will remain in the trade-for-trade segment for the first 10 trading sessions, meaning that only delivery-based trading will be allowed.
What Changed After the Demerger?
Following the demerger, the commercial vehicles (CV) business will now operate under the name “Tata Motors.”
The passenger vehicles (PV), electric vehicles (EV), and Jaguar Land Rover (JLR) divisions will come under Tata Motors Passenger Vehicles Limited (TMPV), which is already listed separately.
This separation allows each business to focus on its core area while improving efficiency and value creation.
Listing Details and Price Expectations
Over 368 crore shares with a face value of ₹2 have been listed on both the BSE and NSE.
Analysts expect strong performance from TMCV shares, predicting prices to stay above the base price of ₹260.
Abhinav Tiwari (Bonanza) expects the stock to list between ₹320 and ₹470, with possible short-term fluctuations.
Prashant Tapase (Mehta Equities) forecasts a ₹300–₹350 range. He added that combining the valuations of Tata Motors Passenger Vehicles (₹399)
and Commercial Vehicles (₹300–₹350) gives a total of ₹699–₹749 per share, showing that the demerger has benefited shareholders.
Why Tata Motors Chose to Demerge
Market experts view the demerger as a strategic move to boost shareholder value and allow both businesses to operate more independently.
This structure will enable Tata Motors and TMPV to focus on their respective goals and strengthen their market positions.
