TMCV Share Price Target 2026, 2027, 2030, 2040, 2050
TMCV (Tata Motors Commercial Vehicles) is a new separate company of the Tata Motors Group that only makes commercial vehicles. In late 2025, Tata Motors divided its business into two companies so each company could focus on its own work. It now handles trucks, buses, small delivery vehicles, and defence vehicles. It is the largest commercial vehicle company in India and makes many types of vehicles, from the small Ace “Chhota Hathi” mini-truck to large heavy trucks and luxury buses. The main purpose of dividing the company was to give better focus to both the commercial vehicle business and the car and EV business.
What is TMCV Ltd NSE: TMCV?
Tata Motors Commercial Vehicles was established in 2025 in Mumbai, India, and is owned by the Tata Group. It is the commercial vehicle business that was separated from Tata Motors and made into a new independent company. It mainly makes and sells commercial vehicles like trucks, buses, tippers, and small goods vehicles used for transport and delivery. The company helps many industries, such as construction, mining, goods transport, and public transport services in India and other countries. After becoming a separate company, TMCV now focuses only on commercial vehicles, which helps it make quicker decisions and grow faster.
It is one of the biggest and most trusted companies in India that makes commercial vehicles. The company has earned a good name by making strong and long-lasting trucks and buses. Its vehicles are used in many areas like transport, construction work, mining, farming, and public travel. Commercial vehicles are very important because they carry goods and people from one place to another every day. It makes vehicles that can travel on rough roads and carry heavy loads without problems. In 2026, its share price target would be ₹871, as per stock market analysts.
According to stock market analysts, its share price would be between ₹306 to ₹871 in 2026.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 306 | 871 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 414 | 485 |
| February | 410 | 509 |
| March | 388 | 506 |
| April | 375 | 450 |
| May | 352 | 470 |
| June | 329 | 450 |
| July | 306 | 551 |
| August | 374 | 624 |
| September | 400 | 744 |
| October | 388 | 774 |
| November | 434 | 835 |
| December | 558 | 871 |
It makes many types of commercial vehicles for different kinds of work. It makes small trucks for city delivery, medium trucks for nearby transport, and big trucks for long-distance travel. It also makes buses for schools, city buses, and comfortable travel buses. These vehicles come in different sizes and weight capacities, so businesses can choose what they need. Small trucks are helpful for delivery work in crowded areas. In 2027, its share price target would be ₹1310, as per stock market analysts.
According to stock market analysts, its share price would be between ₹852 to ₹1310 in 2027.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2027 | 852 | 1310 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 852 | 990 |
| February | 867 | 1044 |
| March | 881 | 1084 |
| April | 912 | 1120 |
| May | 935 | 1165 |
| June | 957 | 1189 |
| July | 987 | 1200 |
| August | 1057 | 1222 |
| September | 1089 | 1242 |
| October | 1125 | 1267 |
| November | 1158 | 1284 |
| December | 1187 | 1310 |
The demerger of Tata Motors was done to divide the business into two separate companies. After the split, TMCV manages trucks and buses, while Tata Motors Passenger Vehicles looks after cars, electric vehicles, and Jaguar Land Rover. Trucks and cars have different customers and market needs. By separating them, each company can focus better on its own products. It now works only on commercial vehicles. This helps the company make quick decisions, work better, and plan properly for future growth. In 2028, its share price target would be ₹1760, as per stock market analysts.
According to stock market analysts, its share price would be between ₹1278 to ₹1760 in 2028.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2028 | 1278 | 1760 |
It works hard to improve the technology in its vehicles. It makes engines that save fuel and create less pollution. This helps customers save money on fuel and follow environmental rules. Many vehicles also have smart digital systems that show live information about location and performance. These systems help business owners plan routes, check fuel use, and do maintenance on time. Better technology means fewer breakdowns and better performance. In 2029, its share price target would be ₹2180, as per stock market analysts.
According to stock market analysts, its share price would be between ₹1740 to ₹2180 in 2029.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2029 | 1740 | 2180 |
It is also trying to make cleaner and more eco-friendly vehicles. The company focuses on lowering pollution and improving fuel efficiency. It is also looking at new fuel options and better engine systems for the future. Cleaner vehicles help protect the environment and follow government pollution rules. Customers also benefit because better fuel use means spending less money. In 2030, its share price target would be ₹2600, as per stock market analysts.
According to stock market analysts, its share price would be between ₹2138 to ₹2600 in 2030.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2030 | 2138 | 2600 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 2138 | 2255 |
| February | 2158 | 2278 |
| March | 2185 | 2335 |
| April | 2200 | 2388 |
| May | 2125 | 2425 |
| June | 2141 | 2445 |
| July | 2174 | 2474 |
| August | 2190 | 2490 |
| September | 2232 | 2523 |
| October | 2267 | 2545 |
| November | 2335 | 2574 |
| December | 2421 | 2600 |
Many industries trust its vehicles for their daily work. Transport companies use their trucks to move goods between cities. Construction companies use heavy trucks to carry building materials. Schools and travel services use its buses for safe passenger transport. Because the vehicles are strong and reliable, many businesses choose this company. Customers who continue using its vehicles for years show their trust in the company. In 2040, its share price target would be ₹4700, as per stock market analysts.
According to stock market analysts, its share price would be between ₹4240 to ₹4700 in 2040.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2040 | 4240 | 4700 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 4240 | 4387 |
| February | 4274 | 4421 |
| March | 4311 | 4487 |
| April | 4352 | 4500 |
| May | 4384 | 4541 |
| June | 4410 | 4578 |
| July | 4454 | 4590 |
| August | 4487 | 4632 |
| September | 4499 | 4665 |
| October | 4510 | 4689 |
| November | 4511 | 4688 |
| December | 4552 | 4700 |
It also provides smart digital tools to help manage vehicles easily. These connected systems give live updates about vehicle location, fuel use, and engine condition. This helps business owners plan better routes and avoid delays. Early service alerts reduce sudden breakdowns. These digital tools help save time and money. It makes transport work easier and more organised for its customers by offering modern and simple technology. In 2050, its share price target would be ₹7203, as per stock market analysts.
According to stock market analysts, its share price would be between ₹6685 to ₹7203 in 2050.
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2050 | 6685 | 7203 |
| Month | Minimum Price (Rs) | Maximum Price (Rs) |
| January | 6685 | 6772 |
| February | 6724 | 6790 |
| March | 6750 | 6800 |
| April | 6778 | 6845 |
| May | 6790 | 6874 |
| June | 6810 | 6900 |
| July | 6835 | 6945 |
| August | 6854 | 6978 |
| September | 6884 | 7024 |
| October | 6900 | 7045 |
| November | 6932 | 7112 |
| December | 6955 | 7203 |
Should I buy TMCV stock?
| Year | Minimum Price (Rs) | Maximum Price (Rs) |
| 2026 | 306 | 871 |
| 2027 | 852 | 1310 |
| 2028 | 1278 | 1760 |
| 2029 | 1740 | 2180 |
| 2030 | 2138 | 2600 |
| 2040 | 4240 | 4700 |
| 2050 | 6685 | 7203 |
It makes trucks and buses, so its growth depends on how much demand there is for commercial vehicles in India. If business activities like transport, delivery, and construction increase, the company may grow. But this type of business does not grow the same every year. This company became a separate company from Tata Motors, so its stock price may move up and down as the market adjusts. If you are ready to invest for a few years and can handle price changes, you may think about it after checking the company’s financial performance.
TMCV earnings results
| Mar 2025 10m | |
| Sales + | 0.00 |
| Expenses + | 0.08 |
| Operating Profit | -0.08 |
| OPM % | |
| Other Income + | 0.00 |
| Interest | 0.00 |
| Depreciation | 0.00 |
| Profit before tax | -0.08 |
| Tax % | 0.00% |
| Net Profit + | -0.08 |
| EPS in Rs | — |
| Dividend Payout % | 0.00% |
Key Metrics
| TTM PE Ratio | PB Ratio | Dividend Yield | Sector PE | Sector PB | Sector Div Yld |
| 67.95 | 87,54,742.84 | — | 42.96 | 6.31 | 0.63% |
Peers & Comparison
| Stock | PE Ratio | PB Ratio | Dividend Yield |
| Tata Motors Ltd | -21,88,685.71 | 87,54,742.84 | — |
| Eicher Motors Ltd | 45.94 | 10.21 | 0.88% |
| Ashok Leyland Ltd | 39.74 | 7.79 | 1.49% |
| SML Mahindra Limited | 59.99 | 19.07 | 0.36% |
Is TMCV stock good to buy? (bull case & bear case)
Bull Case:
- The company reported revenue of around ₹18,400 crore in a recent quarter.
- Free cash flow improved to nearly ₹2,200 crore in the quarter, which means the company is generating good cash from its regular business work.
- Commercial vehicle sales volume reached about 96,800 units, which shows that many trucks and buses were sold, and demand is stable.
- The company has a market share of around 35%, which means it is one of the leading companies in India’s commercial vehicle market.
- After the demerger, it now focuses only on commercial vehicles, which makes its business simple and easier for investors to understand.
Bear Case:
- The company reported a net loss of around ₹867 crore in a recent quarter, which means it faced losses instead of profit.
- The commercial vehicle industry depends on the economy, so sales can fall when economic conditions are weak.
- Strong competition from other truck and bus companies may reduce growth and affect future market share.
Conclusion
It is a new company that only makes trucks, buses, and other commercial vehicles, so it can focus better on its main business. The company has good sales, strong cash flow, steady demand for its vehicles, and is one of the top players in India’s commercial vehicle market. But it has also faced some losses, and since this business depends on the economy, its performance can go up and down.
