Tata Motors Passenger Vehicles shares hit 1-year low post block deal
TMPV: According to BSE data, around 16 lakh shares changed hands at an average price of Rs 325 apiece, translating into a total turnover of about Rs 52 crore.
- Mar 13, 2026,
- Updated Mar 13, 2026 2:05 PM IST
Shares of Tata Motors Passenger Vehicles Ltd (TMPV) slipped 4.87 per cent in Friday's trading session to hit a 52-week low of Rs 308.65 after a block deal took place on the bourses.
According to BSE data, around 16 lakh shares changed hands at an average price of Rs 325 apiece, translating into a total turnover of about Rs 52 crore. The identities of the buyers and sellers were not immediately known at the time of publishing.
Kotak Institutional Equities remains constructive on the company's growth outlook, driven by new product launches. "TMPV expects domestic PV industry volumes to grow 8-9 per cent yoy (year-on-year) in FY2027E. The company expects to outpace the industry growth and has guided for mid-teens volume growth," Kotak noted.
"Volume growth will be driven by launch of new Sierra, which has strong customer traction and healthy order book; continued outperformance of compact and sub-compact SUV segments; and sustained momentum in the EV segment," the brokerage added.
"While the current EBIT margins remain low, the company's long-term aspiration is to reach double-digit EBITDA margins, with 7 per cent as a near-term milestone. Cost reduction is a major focus, as RM costs currently lag behind industry peers by 5-6 per cent. Cumulative commodity cost hikes have compressed margins over the past few quarters. To offset these costs, the company plans to implement product-specific price increases and rein in the elevated discount levels seen throughout 2025. Margins will be improved through value engineering and increasing overall monthly production from 45k to a projected 60k units in FY2027E," Kotak also said.
"The company is exploring entries into the MPV and rugged SUV segments, where it currently lacks a presence. Upcoming launches include the Sierra EV, Avinya EV and 3-4 other new nameplates. EVs currently make up >15% of the company's portfolio mix. To alleviate consumer concerns regarding battery life and resale value, newer EV models such as the Punch EV include unlimited battery warranties," it further stated.
On Jaguar Land Rover (JLR) demand trends, Kotak highlighted, "The company expects Q4 FY26E wholesales to be in the range of 80-100k units as the production have normalised from November. However, the demand trends remain muted, especially in China and the US. To protect market share in China, JLR has absorbed recent luxury tax hikes rather than passing those costs on to buyers.
"The company plans on launching RR Electric during the year and other upcoming 2026 launches include the Freelander in China (with plans for expansion to other geographies following that), a new Jaguar electric model and Range Rover plate with EMA platform."
Shares of Tata Motors Passenger Vehicles Ltd (TMPV) slipped 4.87 per cent in Friday's trading session to hit a 52-week low of Rs 308.65 after a block deal took place on the bourses.
According to BSE data, around 16 lakh shares changed hands at an average price of Rs 325 apiece, translating into a total turnover of about Rs 52 crore. The identities of the buyers and sellers were not immediately known at the time of publishing.
Kotak Institutional Equities remains constructive on the company's growth outlook, driven by new product launches. "TMPV expects domestic PV industry volumes to grow 8-9 per cent yoy (year-on-year) in FY2027E. The company expects to outpace the industry growth and has guided for mid-teens volume growth," Kotak noted.
"Volume growth will be driven by launch of new Sierra, which has strong customer traction and healthy order book; continued outperformance of compact and sub-compact SUV segments; and sustained momentum in the EV segment," the brokerage added.
"While the current EBIT margins remain low, the company's long-term aspiration is to reach double-digit EBITDA margins, with 7 per cent as a near-term milestone. Cost reduction is a major focus, as RM costs currently lag behind industry peers by 5-6 per cent. Cumulative commodity cost hikes have compressed margins over the past few quarters. To offset these costs, the company plans to implement product-specific price increases and rein in the elevated discount levels seen throughout 2025. Margins will be improved through value engineering and increasing overall monthly production from 45k to a projected 60k units in FY2027E," Kotak also said.
"The company is exploring entries into the MPV and rugged SUV segments, where it currently lacks a presence. Upcoming launches include the Sierra EV, Avinya EV and 3-4 other new nameplates. EVs currently make up >15% of the company's portfolio mix. To alleviate consumer concerns regarding battery life and resale value, newer EV models such as the Punch EV include unlimited battery warranties," it further stated.
On Jaguar Land Rover (JLR) demand trends, Kotak highlighted, "The company expects Q4 FY26E wholesales to be in the range of 80-100k units as the production have normalised from November. However, the demand trends remain muted, especially in China and the US. To protect market share in China, JLR has absorbed recent luxury tax hikes rather than passing those costs on to buyers.
"The company plans on launching RR Electric during the year and other upcoming 2026 launches include the Freelander in China (with plans for expansion to other geographies following that), a new Jaguar electric model and Range Rover plate with EMA platform."