Shares in Tata Motors DVR (Differential Voting Rights) jumped nearly 10 per cent to Rs 365.05 on Monday after a newspaper report said that Bombay Stock Exchange and National Stock Exchange of India are considering admitting DVRs on their benchmark indices.
The index committees of the top bourses are talking with relevant market participants before arriving at a decision, the report said, citing people familiar with the matter.
Deven Choksey, managing director at KR Choksey Securities said once DVRs are included in indices, higher amount of liquidity based trading will take place in these stocks and some institutional investors who were refrained from buying the stock may get into it.
As of 1.45 p.m. Tata Motors DVR was up 5.59 per cent at Rs 350.25.
(With inputs from Reuters)
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