Tata Motors Shares Dip Ahead of Q2 Earnings Report

Mumbai – November 13, 2025 – Shares of Tata Motors experienced a decline in trading today, falling approximately 3% ahead of the company's scheduled Q2 FY26 results announcement. As investors await the details of the company's performance for the quarter ended September 30, 2025, the stock price dipped to ₹319.40 apiece.

The fall comes despite the recent listing of Tata Motors Commercial Vehicles (TMCV) on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Wednesday, November 12. The commercial vehicle arm's shares initially saw a premium of over 28% upon listing. The scrip began trading at ₹335, a significant jump from its discovered price on the NSE. During Wednesday's session, it rallied as high as 32.31% to ₹345 before closing at ₹330, up 26.56%. However, the stock then fell with shares trading around ₹320 on the BSE, down 3.10%. On the NSE, Tata Motors shares traded 4.46% lower at ₹320.05.

This year, on March 4, Tata Motors announced its plan to split into two separately listed companies. One company consists of the Commercial Vehicles (CV) business and related investments, and the other consists of Passenger Vehicles (PV) including Tata's electric-vehicle efforts and Jaguar Land Rover (JLR). The demerger is designed to enable each business to pursue its own strategies, capital allocation, and valuations.

The auto giant is set to announce its first quarterly results post-demerger. Tata Motors CV is slated for listing today, November 12, 2025, while Tata Motors PV will report its quarterly earnings on November 14, 2025.

Analysts anticipate a few factors to watch for the upcoming financial results, including JLR and India CV demand and margin outlook. Nuvama analysts expect Tata Motors' consolidated revenue to decline year-on-year (Y-o-Y), led by a fall in JLR volumes. Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin is likely to contract owing to weaker profitability in the JLR business. Within revenue, PV and CV segments are estimated at ₹79,800 crore and ₹19,300 crore, respectively, while EBITDA from PV and CV is projected at ₹6,340 crore and ₹2,340 crore. Analysts at InCred Equities expect Tata Motors to be among the laggards in Q2FY26, with year-on-year EBITDA growth likely to remain weak despite broader sector gains.

The board of directors of Tata Motors is scheduled to meet today, November 13, 2025, to consider and approve the Q2 results. The company will hold an investor/analyst conference call at 6:30 p.m. (IST) to discuss the financial results and operations for the quarter.

Following the approvals from exchanges, the National Stock Exchange and the BSE, Tata Motors had informed in an exchange filing this week that its CV business will list on Wednesday. The listing comes after its current listed company began trading, excluding the commercial vehicle business. The listed company now trades as Tata Motors Passenger Vehicles Ltd. The demerged entity will also include the recently acquired Iveco Group NV, whose integration is likely to be completed by the financial year 2027.

With freight activity improving, commodity costs easing, and the GST rate cut from 28% to 18%, demand for commercial vehicles is expected to rise sharply. Fleet replacement and new demand from construction and logistics players will add further momentum.

Investors and analysts will be closely watching the upcoming financial results and management commentary for further insights into the company's performance and future prospects.