Synopsis: Tata Motors’ Commercial Vehicle segment will list separately on November 12 on the exchanges, further unlocking value in its core division, helping investors to value the different segments in their own unique way.
In the last couple of years, the passenger and commercial businesses of Tata Motors have gone through different changes. As a result, the PV and EV divisions became a center of attraction worldwide with Tata Nexon EV and JLR’s turnaround, whereas the CV business was the one that kept the Indian transport sector going.
Automakers around the world, such as Volvo, Daimler, and Ford, have also separated their commercial and passenger divisions, creating separate entities to gain additional value and to be more focused. Restructuring by Tata Motors is in line with this worldwide trend of going for more specialized units, which is in sync with the growth of the EV and the infrastructure trend in India.
About the Listing
On November 12, the commercial vehicles (CV) business of Tata Motors Ltd will be listed for the first time on the stock exchanges, after the company’s demerger, which has been awaited for a long time.
This action separates Tata Motors into two distinct companies – one for commercial vehicles and the other for passenger vehicles (PV), which will also comprise electric vehicles (EVs) and Jaguar Land Rover (JLR).
The newly formed company, Tata Motors Commercial Vehicles Ltd (TMLCV), will be available for trading on both the BSE and NSE with the symbol “TATAMOTORSCV”. According to the demerger scheme, the shareholders of Tata Motors were issued one share of TMLCV for every one share held in the parent company as of October 14, 2025, which is the record date. The demerger officially took effect on October 1 after receiving all the necessary regulatory and shareholder approvals.
The main objective of this separation is to bring more focus to the strategy and to create more value by letting each business follow its own growth strategy independently. While Tata Motors Passenger Vehicles Ltd (TMPV) will remain responsible for cars, EVs, and JLR, TMLCV will be the one to take care of the full commercial vehicle portfolio, i.e., trucks, buses, and small CVs.
To begin with, analysts believe that the step will enable investors to separate the value of each business. Based on the current valuations of Tata Motors, they have come up with the rough estimates that the new CV division may open the market between Rs 260 and Rs 300 per share. Following the listing, the two firms will be free to trade with one another on the stock market, and the index providers may decide to change their weightages accordingly.
The upcoming listing of the commercial vehicle division of Tata Motors is not only a corporate restructuring, but it also represents the start of a new era for the company’s heritage business.
When Tata Motors spins off its passenger and commercial segments, shareholders will be able to see the standalone performance of the CV division only. This step, with clearer valuations, separate growth trajectories, and more focused strategic priorities, can potentially alter the way that India’s biggest automaker will be dealing with the next ten years of the mobility revolution.
Written by Satyajeet Mukherjee
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