Tata Motors CV Shares List 28% Higher On NSE, Declines Over 1% Post Listing

After the Tata Motors demerger, the Tata Motors Commercial Vehicle (TMCV) shares got listed on Wednesday, November 12 on BSE and NSE. 

TMCV Listing Price; Shares Trade 1.49% Lower On NSE

The Tata Motors Commercial Vehicle (TMCV) shares got listed at Rs 330.25 per share on BSE, higher 26.09% to its previous value of Rs 261.90 apiece. 

The Mumbai-headquartered Tata Motors's commercial vehicle arm listed at Rs 335 apiece on NSE, 28.48% higher as against its earlier value of Rs 260.75 per share.

The listing on India's stock market exchanges BSE and NSE comes after its demerger from the company's passenger vehicle vertical on October 1.

After the Tata Motors CV shares opened at 28% premium the share price fell 0.0085 to Rs 330 apiece as of 10:40 AM on Sensex, and declined 1.49% to Rs 330 per share as of 10:42 AM. 

Tata Motors CV Share Ratio 

Under the Tata Motors demerger, shareholders received one share of Tata Motors Commercial Vehicles Ltd for every Tata Motors share held as of the record date. The record date for Tata Motors demerger was October 14, 2025.

Post this demerger, the Commercial Vehicles (CV) vertical has been renamed Tata Motors, while the Passenger Vehicles (PV), Electric Vehicles (EVs), and Jaguar Land Rover (JLR) operations are now operational under Tata Motors Passenger Vehicles Ltd (TMPV) — which is already listed separately.

According to a BSE notice, over 368 crore equity shares with a face value of ₹2 each will be admitted to trading under the ticker symbol ‘TMCVL’ in the ‘T’ Group of Securities. The stock will remain in the trade-for-trade segment for the first 10 sessions to ensure a smooth price discovery process.

Tata Motors Passenger Vehicles Ltd (TMPV) shares began trading as a standalone entity on October 14, hovering around Rs 400 per share after record-date adjustment.

Based on the pre-demerger closing price of Rs 660.75, the earlier value of the Tata Motors commercial vehicle arm was anticipated between Rs 260 and Rs 270 apiece.

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Tata Motors CV Sales In October

Tata Motors posted a 10% surge in total commercial vehicle sales at 37,530 units in October 2025, as against 34,259 units in the same period last year.

The company's domestic commercial vehicle sales were 7% higher at 35,108 units last month, as against 32,708 units in October 2024, as per an official company statement.

Meanwhile, the International business reported sales of 2,422 units as against 1,551 units in the same month last year, up 56%, it said.

Why TMPV Shares Surged Today?

Ahead of the Tata Motors Commercial Vehicles (TMCV) listing, the Tata Motors Passenger Vehicles share  rose 0.94% to hit Rs 411.35 apiece as against its previous closing price of Rs 407.50 per share.