Tata Motors shares surged over 6% today, trading at ₹1,135.80, up by ₹61.25 or 5.7% as of 3:25 AM. This increase comes as the company approaches the last trading day for its Differential Voting Rights (DVR) shares, which will cease trading on August 30, 2024.
Stock performance details:
– Open: ₹1,079.05
– High: ₹1,142.00
– Low: ₹1,066.00
– Previous Close: ₹1,074.55
The surge in share price reflects investor optimism surrounding Tata Motors’ ongoing transformation and the upcoming conversion of DVR shares into ordinary shares. For every 10 DVR shares, investors will receive 7 ordinary shares, a move aimed at simplifying the company’s share structure.
Analysts remain positive about Tata Motors’ growth prospects, particularly in the electric vehicle segment, and suggest that the current momentum could continue as the company prepares for this significant transition.
