Tata Motors DVR rallied 9.55% to Rs 61.35 after promoter Tata Sons acquired an additional 1.04% stake in the company via bulk deal on Friday, 4 September.
On Friday, 4 September 2020, Tata Sons bought 53,02,681 equity shares, or 1.04% stake, of Tata Motors DVR at Rs 56.02 each via bulk deal on the NSE.
As on 30 June 2020, Tata Sons held 5.26% stake in Tata Motors DVR.
The scrip has surged 116.40% from its 52-week low of Rs 28.35 hit on 24 March 2020.
On the technical front, the stock's RSI (relative strength index) stood at 76.381. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 43.86 and its 200-day moving average (DMA) placed at 51.96.
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