Tata Motors CV shares make strong debut, close at ₹330 on listing day

On the BSE, Tata Motors CV stock closed at ₹327.65, down 0.79 per cent from the opening price of ₹330.25

Tata Motors CV listing: Following the demerger, Tata Motors’ newly listed Commercial Vehicle (CV) unit, trading under the ticker TMCV, closed at ₹330 on the listing day, up 26.5 per cent from the implied valuation of ₹260.75 on the NSE. The stock has been placed in the trade-for-trade segment for the first 10 sessions, as per the exchange guidelines, to ensure orderly price discovery.

 

However, the stock settled 1.5 per cent down from its listing price. The stock listed at ₹335 on the NSE, up by 28 per cent from its implied value. In comparison, the NSE Nifty50 settled at 25,875.8 levels, up by 180.75 points or 0.7 per cent.  On the BSE, the stock closed at ₹327.65, down 0.79 per cent from the opening price of ₹330.25.

 

 

The CV business, which includes heavy, medium, and light commercial vehicles, along with the recently acquired Iveco Group NV, now operates as a separately listed entity after splitting from Tata Motors’ Passenger Vehicle arm. Tata Motors is the market leader in the commercial vehicle segment with around 37 per cent market share. Analysts say the listing is expected to allow greater management focus, operational efficiency, and independent valuation of the CV business. 

 

On March 4, 2024, Tata Motors announced its plan to split into two listed entities: Commercial Vehicles (CV) and Passenger Vehicles (PV), including EVs and JLR. Under the Composite Scheme of Arrangement, the CV business was carved out into a new company, with the demerger taking legal effect on October 1, 2025, and October 14 was set as the record date for the new shares.

 

Given its strong position, investors are closely watching Tata Motors' stock. With stable domestic demand across logistics, construction, and mining segments, and potential benefits from global acquisitions, the CV unit is expected to support long-term growth and profitability.

 

Ravi Singh, chief research officer at MasterTrust, said the market debut of TMCV was robust as investors welcomed the standalone listing of India’s largest truck and bus-maker amid an optimistic cyclical recovery in the commercial vehicle industry. "After becoming a standalone company, Tata Motors’ CV business will be at the core of India’s growth story – facilitating the expansion of logistics, mining and infrastructure. Fleet replacement combined with new demand supporting construction and logistics will provide further impetus," he said.

 

Singh added that the demerger distinguishes Tata Motors’ fast-growing passenger vehicle and EV business units from the more stable and cash-generating CV business. It allows investors to value them individually on their own credibility.

 

On a similar note, Abhishek Jain, head of research at Arihant Capital Market, said Tata Motors CV appears fully valued after its listing. However, the company’s recent acquisition could act as a key growth trigger in the coming quarters. 

 

According to Jain, investors can consider booking partial profits while staying invested for the long term to benefit from its strategic expansion and improving fundamentals.