Tata Motors DVR up 11% following a 5% move on Tuesday

Trading at a disc of 31% to Tata Motors

Tata Motors DVR is up 11% following a 5% move on Tuesday. It is trading at a discount of 31% to Tata Motors. Historically, Tata Motors DVR trades at discount of 35-38% to Tata Motors. Volume of over 10x of 10-day average is aided by block deals.

On 13 April 2010, Tata Sons sold 52 lakh shares at Rs 486.7 per share. On 12 April, 2010, IFCI sold 15.12 lakh shares (2.35% stake) at Rs 475.23 per share. On 9 April, 2010, IFCI sold 7.9 lakh shares (1.23% stake) at Rs 475 per share.

Buyers in Tata Motors DVR were HDFC Mutual Fund, which bought 35 lakh shares (0.54% stake) at Rs 486 per share, International Opportunities, which bought 3.68 lakh shares at Rs 490 per share and Prulink Asian Equity Fund, which bought 4.44 lakh shares at Rs 490 per share.

Tata Motors DVR carries 1 voting right to 10 shares. DVR holders get 5% more dividend than Tata Motors shareholders. Tata Sons holds 56.59% and IFCI holds 6.35% in DVR.

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