ICICI Direct Rates Tata Motors Commercial Vehicles 'Buy' Citing Strong Margins and Market Leadership

Tata Motors Commercial Vehicles (TMCV) shares rose following ICICI Direct's 'Buy' rating and target price of Rs 500, citing strong profitability, market leadership, and structural improvements post-demerger. TMCV holds significant market shares across heavy, medium, and light commercial vehicle segments. The recent acquisition of Italy-based Iveco aims to enhance global presence and technology diversification. ICICI Direct highlights robust margins, disciplined capital expenditure, and growth prospects driven by infrastructure spending and fleet replacement demand.