1:1 Split! Tata Motors Demerger! TMPV Share Nears Rs 450; Why TML Commercial Vehicles Not Visible On BSE, NSE?

Tata Motors Passenger Vehicles (TMPV), which was once upon a time just Tata Motors, started this week's trading session with a bang. Now trading as TMPV, the popular Tata Group-backed automobile stock climbed nearly 2% and crossed the Rs 410 mark. The stock is less than Rs 40 away from hitting the Rs 450 threshold. While the large-cap is trading positive, it is still down by nearly 38% from the pre-demerger date. This is because the shares of TML Commercial Vehicles are not reflected in investors' demat accounts.

Not to worry, there is a reason why the investor's portfolio has recorded unrealized P&L.

TMPV Share Price:

After market hours of October 28, TMPV stock closed at Rs 410.10 apiece on BSE, up by 1.6% with market cap of Rs 1,51,012.41 crore. Overall, the stock zoomed by nearly 2% to hit an intraday high of Rs 411.35 apiece. That being said, TMPV shares are racing towards Rs 450 levels.

Since the demerger record date, TMPV stock has gained significantly and the biggest boost comes after the change in scrip code on BSE and NSE from October 24 onward. TMPV's 52-week high and low is at Rs 548.07 and Rs 335.30 apiece after adjustment to demerger ratio of 1:1.

Despite the latest correction, TMPV stock continues to hold healthy return on equity of 28.12% and lower price-to-equity ratio to 17.53x compared to the sector.

Why Is TML Commercial Vehicles Share Price Not Visible In Demat Account?

The 1:1 demerger scheme included split of Tata Motors into two parts. One belonged to the PV segment including JLR, which was named to Tata Motors Passengers Vehicles (TMPV), formerly known as Tata Motors. The second part of the demerger is the listing of a separate entity that solely focuses on CV segment namely TML Commercial Vehicles.

The final stage of PV segment is cleared, and the next step is the listing of CV unit. Till the time CV does not list on BSE and NSE, investors will not be able to trade in this particular stock and also see it in their demat accounts.

However, market experts have explained that stock adjustments due to demerger are standard practice in corporate restructurings, and does not signal erosion in intrinsic value.

TML Commercial Vehicles Listing Date:

Although the demerger is effective from October 1, TMLCV's shares are yet to be listed on the Indian stock exchanges.

As per the regulatory filing, Tata Motors had highlighted that the process for listing includes submission of applications to exchanges and regulatory approvals, which generally takes 45 to 60 days. Hence, the potential date for listing TMLCV could be mid-November 2025.

According to PL Capital blog, The Tata Motors demerger signals a strategic shift for India's largest automaker, carving out independent growth paths for its passenger and commercial vehicle businesses. While the stock's sharp drop reflects an accounting adjustment, analysts believe the move enhances transparency and could unlock long-term shareholder value once both entities begin trading independently.

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