Tata Motors Commercial Vehicles shares vroom 8% amid mega Sensex, Nifty rally | Time to book profits or hold? Details
Tata Motors (formerly known as Tata Motors Commercial Vehicle) share price jumped over 8% in Thursday's trading session amid positive sentiments on Dalal Street.
Tata Motors shares opened at ₹421 per share on NSE today, as compared to previous close of ₹402 on Wednesday and touched an intraday high of ₹436.90 on 5 November.
The stock rally came in after Indian equity benchmarks opened sharply higher on Thursday, with the Sensex rallying 1,609.54 points, or 2.08%, while the Nifty 50 advanced 417.45 points, or 1.74%. The strong opening was driven by easing crude oil prices and renewed buying by foreign investors, which boosted overall market sentiment.
The upbeat sentiment also reflected improving global cues following the November 2026 US midterm elections, in which Democrats secured control of both the Senate and the House of Representatives, marking a major political setback for President Donald Trump's administration.
Tata Motors CV reported a 27% year-on-year (YoY) increase in commercial vehicle (CV) sales across domestic and international markets in October 2026, with total sales rising to 47,652 units from 37,530 units in the corresponding month last year.
Domestic commercial vehicle sales grew 13% YoY to 39,784 units in October 2026, compared with 35,108 units in October 2025. Among domestic categories, heavy commercial vehicle (HCV) truck sales increased 12% to 12,030 units, while intermediate and light commercial vehicle (ILMCV) truck sales rose 17% to 7,213 units.
Passenger carrier sales registered a 20% YoY growth to 3,826 units during the month, compared with 3,184 units a year earlier. Meanwhile, sales of small commercial vehicle (SCV) cargo vehicles and pickups climbed 11% to 16,715 units from 15,018 units in October 2025.
The international business emerged as the strongest growth driver, with sales surging 225% YoY to 7,868 units in October 2026, against 2,422 units in the year-ago period. Overall, Tata Motors recorded broad-based growth across its commercial vehicle portfolio, with international sales providing a significant boost to total volumes.
Brokerage firm Elara Capital has retained its ‘accumulate’ rating on the Tata Motors CV stock with a target price of ₹463.
“We are impressed by TMCV’s sustained market share gains (H1FY27 market share at 36.2%, up 110bp vs FY26). We are surprised on the positive by the sustained strong demand momentum, but expect it to moderate in H2 on high base. Historical cycles from peak to trough have been 40-60% lower, but we do not expect the downcycle, if at all, this time to be as severe as the past. Given strong H1 and likely sustained double digit growth in Q3, we raise our FY27-29 volume estimates however led by commodity headwinds revise EPS estimates by -1% to +2%. We lower our SOTP-TP to INR 463 from INR 508 based on 11x (from 12x) December 2028 EV/EBITDA, as we roll forward by a quarter. We ascribe INR 17 value to its stake in Tata Capital and INR 11 to IVECO. We retain our Accumulate rating,” the firm said in a note.
Meanwhile, Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, said thatTata Motors Commercial Vehicles (CV) shares can be considered for buying in the ₹418-430 range.
He further recommended maintaining a stop-loss below ₹390, with upside targets of ₹455, ₹470 and ₹485. The stock is expected to witness further upside if it sustains above the recommended buying zone.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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HomeMarketsStock MarketsTata Motors Commercial Vehicles shares vroom 8% amid mega Sensex, Nifty rally | Time to book profits or hold? Details
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