Tata Motors CV Q2 Review: Motilal Oswal Maintains 'Neutral' Stance Amid Lack Of Triggers — Check Target Price

The key concern in Tata Motors CV business has been its gradual loss of market share across key segments. Particularly worrisome is the market share loss in light commercial vehicle goods from a high of 40% in FY22 to 27% now, and the gap with the current market leader M&M is rising with every passing year..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.The industry’s pricing discipline has certainly been commendable over the last 12 months, with all commercial vehicle players witnessing improvement in margins. However, the key concern in Tata Motors CV business has been its gradual loss of market share across key segments. Particularly worrisome is the market share loss in light commercial vehicle goods from a high of 40% in FY22 to 27% now, and the gap with the current market leader Mahindra and Mahindra is rising with every passing year. Even in medium and heavy commercial vehicle goods, its market share has declined to 49% from 54% in FY22. In the MHCV bus segment, its market share has come down to 30.3% in H1 FY26 from 38% in FY22. Further, its recent acquisition of Iveco would expose it to the ongoing global macro uncertainties, thereby driving a potential derating, if the demand environment does not improve anytime soon. Given the lack of any visible triggers, we rate Tata Motors CV business at Neutral with a target price of Rs 341 per share – we value the core business at 11x Sep’27E EPS (in line with peers) and add Rs 12 per share for its stake in Tata Capital..Click on the attachment to read the full report:.Tata Motors CV Q2 Results: Rs 867-Crore Net Loss Logged In First Earnings After Demerger, Revenue Up 6%.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Tata Motors CV Q2 Review: Motilal Oswal Maintains 'Neutral' Stance Amid Lack Of Triggers — Check Target Price

Given the lack of any visible triggers, Motilal Oswal rates Tata Motors CV business at Neutral.

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