Tata Motors DVR shares break 6-year record, climb by 2.6%
In a historic move, Tata Motors DVR (Differential Voting Rights) shares broke their 6-year record on Monday, June 12. During the day’s trading, the company’s share surged by almost 2.6% to reach a level of INR 301.70, marking the first time in the last 6 years that the company’s shares have crossed the INR 300 mark. At the end of the day’s business, Tata Motors DVR shares closed at INR 299.40, with a gain of 2.01%.
Since the beginning of this year, Tata Motors DVR shares have seen a steep rise of 42.48%, while in the last one year, the share has given a remarkable return of 52.65%. In the last one month alone, the share has seen a gain of 10.21%.
Tata Motors had recently announced a dividend of INR 2.10 per share for its ‘A’ ordinary shareholders with a face value of INR 2, which will also be applicable to Tata Motors DVR shareholders. Normally, DVR shareholders receive a higher dividend than regular shareholders, but they have fewer voting rights than regular shareholders.
Tata Motors was the first company to issue DVR shares in 2008, and since then, many other companies have followed suit. However, DVR shares are still in limited supply in the market, and most listed companies do not have DVR shares.
Overall, Tata Motors DVR shares have been performing exceptionally well, and investors with a lower preference for voting rights tend to show interest in these shares due to their higher dividend yield.
Related News: Despite making loss in FY23, 21 companies to pay dividend including Bharti Airtel, Adani Ports.
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