Jefferies remains cautious about Tata Motors' Passenger Vehicle business. (Photo: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Jefferies has maintained an 'underperform' rating on Tata Motors Ltd., setting a price target of Rs 570, which implies 15% downside from the stock's current levels, even as the automaker goes through its long-awaited demerger.

At an analyst meeting, Tata Motors said that the record date for the demerger, which is effective October 1, will tentatively take place around mid-October.

As part of the demerger plans, the existing stock will trade ex-commercial vehicles on the record date and will subsequently be renamed Tata Motors Passenger Vehicles Ltd, while the CV (demerged) entity will be Tata Motors Limited.

While Tata Motors expres

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