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Brokerage Optimism Lifts Tata Motors CV Shares Amid Recovery Hopes
Bullish calls from Nomura, JPMorgan, and others lifted Tata Motors CV shares, with analysts betting on domestic recovery, strong market share, and improving commercial vehicle demand.
Shares of Commercial Vehicles extended gains on December 23, rising about 4% to an intraday high of ₹428.20, as multiple global brokerages issued bullish outlooks. Nomura initiated coverage with a ‘Buy’ rating and a target of ₹481, citing Tata Motors CV’s strong 46% market share in medium and heavy commercial vehicles and expectations of a domestic upcycle. JPMorgan and Ambit Capital also turned positive, highlighting improving freight rates, fleet replacement demand, pricing discipline, and a gradual recovery in the CV segment after years of stagnation.