TATA MOTOR DVR SHARE INFO

Tata Motors' DVR share price surged 13% on July 26.

By Arun -ESIC

July 26, 2023, 11:41 am

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Tata Motors Board Approved the cancellation of all DVRs and their replacement with ordinary shares.

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The spread between the value of seven ordinary shares (Rs 4,476.15).

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And 10 DVRs (Rs 3,800) offered a 20% advantage to DVR holders.

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By 9:20 am, Tata Motors DVR was quoting at Rs 423.55 on the NSE.

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Reflecting a 13% increase from the previous close. The spread is now only 8% in favour of DVR holders.

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Financial analysts suggest that an ideal spread to consider for establishing a fresh position should be 15%.

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Existing DVR shareholders are advised to unwind their positions.

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The recent trading activity witnessed a substantial trade of 7.06 lakh shares...

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(equivalent to 1.38% of equity) worth Rs 31.7 crore changing hands.

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Rekha Rakesh Jhunjhunwala, Government of Singapore, and Post Office Life Insurance Fund.

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The proposed scheme to cancel DVR shares is expected to result in a reduction of outstanding equity shares by 4.2%.

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