Tata Motors DVRs jumped as much as 8 per cent in trade today, after Tata Sons hiked its stake in the same. DVRs are shares that have differential voting rights, lesser voting rights than ordinary shares, but, can carry higher dividends. The DVRs were last trading at Rs 60 on the Bombay Stock Exchange.
Tata Sons acquired 53 lakh shares of Tata Motors DVR, amounting to 1.04% stake on Friday at a price of 56.02 per share. This has been the single largest day gains for the DVR, which in intra-day trading jumped as much as 12 per cent.
The shares of Tata Motors too gained along with the DVR, though the gains were restricted to just 1 per cent.