Tata Motors DVR share price: Shares of Tata Motors DVR surged after the company announced it will convert its DVR shares to ordinary shares, reducing outstanding equity shares by 4.2 per cent.
Tata Motors’ move to convert DVRs to ordinary shares is seen simplifying and consolidating its capital structure and preserve liquidity for the auto major's growth.
Tata Motors DVRs trade at a price almost half of that of ordinary shares, and therefore, provide arbitrage opportunities to investors. Under the scheme of arrangement, the DVR holders will get seven fully paid-up ordinary shares of the company, for every 10 DVRs they hold.
Benchmark indices BSE Sensex and NSE Nifty settled higher note on Wednesday, snapping their three-day fall. Tata Motors DVR, Vodafone Idea, Sobha, Olectra Greentech and Marksans Pharma were among the top gainers on BSE, while Can Fin Homes, Ion Exchange, AGI Greenpac, Triveni Engineering and Deepak Fertilizers were the major laggards. Check stocks that buzzed in trade today.
Tata Motors-DVR Share price NSE, BSE today: check share/stock price of TATAMTRDVR, get live NSE/BSE stock price of Tata Motors-DVR with financial reports, peer comparisons, stock performance, about company, shareholding pattern, SWOT analysis on Business Today.