Tata Motors PV: Should You Buy, Sell Or Hold This Auto Stock On April 15?

TMPV Shares: Amid rising tensions over US-Iran war, supply chain issues and surge in key commodity costs, ICICI Direct assigned 'HOLD' rating on the Tata Motors Passenger Vehicle (TMPV) stock.

"Given uncertain demand & margin recovery at JLR despite robust volume growth at Indian operations as well as increasing leverage on B/S, we assign HOLD rating on the stock and value it at Rs 370 on SOTP basis," as per a brokerage note.

This comes after reports circulating that India's third largest passenger vehicle maker's luxury arm Jaguar Land Rover (JLR) has suspended production at a UK plant for up to two weeks due to a supplier-related issue.

TMPV Q4 Result & Brokerage View On Performance  

The company delivered record quarterly volumes in Q4FY26 with a 37% YoY growth and improved its market share to end FY26 with 13% share, reflecting strong traction for key models such as Nexon and Punch.

Recent launches of Sierra, refreshed Punch and petrol version of Harrier & Safari continue to see progressive growth in customer traction, across bookings, enquiries and deliveries.

Also Read: Crude Oil Prices Ease, Hopes for US-Iran Dialogue Soften Supply Concerns

Additionally, Tata Motors remains the dominant player in India’s EV market with "roughly mid-40% market share", supported by a diversified EV portfolio across price points and increasing consumer acceptance leading to 'highest ever EV volumes of ~27K, a 69% YoY growth in Q4’26".

On the other hand, JLR has taken a hit with its near-term performance impacted as a result of a  cyber incident, global macro pressures, and weakness in China’s luxury auto market, the underlying brand strength and product strategy remain intact, as per the brokerage house.

However, the "management indicated that production across key plants has already normalised and as a result Q4 volumes rose significantly with a 61% QoQ growth".

Further, ICICI Direct noted that given the global geo-political tensions, supply chain issues and rise in key commodity costs in the medium term it expects "volumes & margin recovery to lag the ambitious capex cycle embarked by JLR thereby straining the B/S and limiting the upsides."

On Monday's trading session, TMPV shares closed 0.77% higher at Rs 342.55 apiece.