Tata Motors Commercial Vehicles Lists at ₹335, Up 28.48% Against the Reference Price

Mumbai, November 12: Shares of Tata Motors Commercial Vehicles business made a strong debut on stock exchanges today. The shares of TMCV were listed at ₹335 per share, with a 28.48% premium over its reference price of ₹260.75. As of 10:30 am, the TMCV share price was up by 24.10%, or 62.55 points, and was trading at ₹323.60. The traded volume for the Tata Motors Commercial Vehicles shares was 1.22 crore shares.

Background: Tata Motors’ Major Restructuring

The listing of Tata Motors Commercial Vehicles Ltd (TMCV) marks the second and final phase of Tata Motors’ demerger plan. Under the restructuring plan, Tata Motors divided its business into two entities, Tata Motors Commercial Vehicles Ltd (TMCV) and Tata Motors Passenger Vehicles Ltd (TMPV). TMCV now holds the commercial vehicles division along with all related investments, while TMPV manages the passenger vehicle, electric vehicle, and Jaguar Land Rover (JLR) businesses, along with related investments.

TMPV Listed on October 14

The shares of Tata Motors Passenger Vehicles Ltd (TMPV) were listed on NSE and BSE on October 14. As of 10:30 AM today, the TMPV share price was down by 0.64%, or 2.60 points, and was trading at ₹405. Until now, the shares have traded within a range of ₹411.40 and ₹403.35. The traded volume stood at 41.28 lakh shares, with the company’s market cap at ₹1,50,092.

Investor Takeaway for Tata Motors Commercial Vehicles

Tata Motors Commercial Vehicles shares have listed with a 28.48% premium, providing investors with good listing gains. The listing of the TMCV shares now marks the completion of the demerger of Tata Motors Limited into two separate entities. Investors will now track the business performance of TMCV for further trading cues with hopes that the share price continues to rise in the coming days.

REF: https://www.nseindia.com/get-quotes/equity?symbol=TMCV

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