Shares of Tata Motors Commercial Vehicles Ltd. listed at a premium of 28% to its implied value, as investors cheered the standalone listing of India’s largest truck-and-bus maker. That, in effect, means that the Tata Motors demerger has paid off for India’s largest conglomerate.
Tata Motors CV’s share price rose as much as 28.5% over the implied price of ₹260 .75 to ₹335 on the National Stock Exchange, amid expectations of a near-term volatility.
This is a developing story. More to come.