Tata Motors Ltd.’s share price opened 0.36% lower after the company in an analyst meet announced that the record date for the demerger of its Commercial Vehicles business is slated for mid-October and listing is to be expected in November.
The demerger takes effect from Wednesday, October 1.
Post the analyst meet, brokerages held mixed opinions on the company. Analysts expect potential upside from the possible Iveco acquisition and tailwinds from the Goods and Services Tax reforms, but concerns remain about the short-term demand outlook for Jaguar Land Rover in key markets such as Europe, China, and the US.
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