Tata Motors' commercial vehicles biz shares end 27 pc higher on debut trade

New Delhi, Nov 12 (PTI) Shares of Tata Motors commercial vehicles business on Wednesday listed on the stock exchanges at a premium of 27 per cent compared to their issue price.

The listing of CV business scrip under the parent entity came more than a month after Tata Motors completed its demerger by splitting into two independent entities. The passenger business arm, Tata Motors Passenger Vehicles Ltd, was listed on October 14.

The scrip of commercial vehicle (CV) business of Tata Motors Ltd began trading at Rs 335, up 28.48 per cent from its discovered price on the NSE. During the session, it rallied 32.31 per cent to Rs 345.

Later, it ended at Rs 330, up by 26.56 per cent on the exchange.

On the BSE, it listed at Rs 330.25, up 26.09 per cent. In the session, it hit a high of Rs 346.75, up 32.4 per cent. Finally, it ended the day at Rs 327.65, up 25.3 per cent.

At the end of trading session, the company's market capitalisation stood at Rs 1,21,516.94 crore on the NSE.

In volume terms, 3.13 crore equity shares of the company were traded on the NSE while 21.25 lakh shares were exchanged hands on the BSE, during the day.

The 30-share BSE Sensex rallied 595.19 points, or 0.71 per cent, to settle at 84,466.51. The broader NSE Nifty climbed 180.85 points, or 0.70 per cent, to close at 25,875.80.

Tata Motors' demerger took effect from October 1.

In 2024, Tata Motors announced the demerger of its businesses into two separate entities.

As part of the demerger, the commercial vehicles business and related investments were moved into one company, while the passenger vehicles (PV) business, including PV, electric vehicles, Jaguar Land Rover and related investments, formed the other entity.

Tata Motors' passenger vehicle arm was renamed Tata Motors Passenger Vehicles Ltd following the split.

On the operational front, Tata Motors reported a 10 per cent rise in total commercial vehicle sales at 37,530 units in October this year, compared with 34,259 units a year earlier.

Its domestic sales grew 7 per cent to 35,108 units, while international business surged 56 per cent to 2,422 units, the company said. PTI HG HVA