Tata Motors DVRs surges 10% after Rakesh Jhunjhunwala's bet

A host of good news and a strong business outlook could lead to multiple re-rating for the stock

Ace investor Rakesh Jhunjhunwala pruned his exposure to Tata Motors’ ordinary shares, while increasing holdings in shares with differential voting rights (DVR).

The billionaire investor’s holding in Tata Motors DVR rose to 3.93 per cent during the September quarter from 1.97 per cent in the preceding quarter. On the other hand, his holding has declined slightly in Tata Motors ordinary shares to 1.11 per cent to 1.14 per cent for the period under consideration.

Tata Motors DVR surged 10 per cent on Thursday and closed the session at Rs 256 apiece. The ordinary shares rose 4.3 per cent to end at Rs