Overview
- The demerger is effective, the existing stock now reflects only the passenger vehicles business, and shareholders recorded on Oct. 14 will receive one CV share for each share held.
- On Oct. 15 the PV scrip opened near ₹399 versus ₹660.90 previously, a roughly 40% technical adjustment due to removal of CV value rather than an economic loss.
- The standalone CV entity is slated to list within the exchange’s up-to-60-day window, with the PV company to be renamed Tata Motors Passenger Vehicles Ltd and the CV listing to carry the Tata Motors Ltd name.
- Nomura set split target prices at ₹365 for CV and ₹367 for PV, kept a Neutral stance, and noted JLR’s phased production restart after a cyberattack with FY26–FY27 EBIT margins estimated at 6.2%–7.6%.
- Broker ranges point to CV trading near ₹320–₹470 and PV around ₹380, as the CV unit prepares to include the Iveco acquisition from April 2026 financed initially with €3.8 billion debt and later 40% equity, with index-weight shifts also flagged.