Nomura expects TMCV's India business to be a key beneficiary of the anticipated recovery, supported by its dominant 46 per cent market share in the domestic MHCV segment in FY25.
Wagh said Tata Motors is targeting hard-to-abate sectors with a full e-truck ecosystem, and added it will participate in the upcoming 6,000-bus tender after missing the 10,900 e-bus order
TMCV remains the market leader in MHCVs, with retail market shares of ~49 per cent in heavy CVs, ~37 per cent in passenger buses, and ~30 per cent in light goods vehicles (FY25).
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According to InCred Equities, the CV downcycle that played out over six quarters between April 2024 and July 2025 appears to be bottoming out.
In the past one week, the Nifty Auto index has outperformed the market by surging 5.4 per cent, as against 1.7 per cent gain in the Nifty 50.
Tata Motors outlook: With GST rationalisation & pick up in government capex, commercial vehicle volumes are likely to improve going forward, believes the management.
Ashok Leyland and TVS Motor Company hit their respective all-time highs, while, M&M was close to its record high level
Thus far in the calendar year 2025, the BSE Auto index has rallied 18 per cent, as against 8 per cent rise in the BSE Sensex.
Tata Motors said that the growth momentum expected to continue through H2 across segments, while, the GST cut boosted consumption and utilisation, supporting MHCV cargo volume growth
Nomura believes Tata Motors' commercial vehicle (TMCV) division is positioned to benefit despite its high overseas exposure, as the acquisition of IVECO's CV business is expected to be value accretive
Tata Motors will likely maintain its dominant share in the vehicle market segment, with support from India's economic growth, favourable infrastructure and construction spending, believe analysts.
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Tata Motors said the new-generation Sierra logged 70,000 confirmed bookings in 24 hours, with deliveries set from January 15, 2026, and prices ranging from Rs 11.49 lakh
The BSE Auto index, up 18% thus far in the calendar year 2025, is set to outperform the BSE Sensex for the fourth straight calendar year.
In the past two weeks, Tata Motors has rallied 17 per cent, as compared to 3 per cent market price decline in Tata Motors Passenger Vehicles (TMPV).
Ambit expects TMCV's revenue and Ebitda to grow at a CAGR of 6 per cent and 7 per cent over FY25-28, respectively, on the back of high-margin and non-core revenues
The brokerage said most major OEMs reported double-digit year-on-year volume growth, aided by festive spillover, GST 2.0-led affordability, improved rural sentiment and robust export demand
Strong order books keep automakers driving past slowdown fears
Tata Motors will likely maintain its dominant share in India's commercial vehicle (CV) market, with support from India's economic growth, and favourable infrastructure and construction spending.