Shares of Tata Motors DVR (Differential Voting Rights) jumped nearly 6 per cent today amid a media report saying leading bourses BSE and NSE are considering admitting the DVRs on their benchmark indices.
Buying was also seen in companies with DVR shares.
Shares of Future Retail Ltd surged 5.37 per cent, Gujarat NRE Coke Ltd rose by 4.96 per cent and Jain Irrigation Systems Ltd DVR was up 4.93 per cent on the BSE.
Following the inclusion buzz, Tata Motors DVR scrip closed the day with a gain of 5.28 per cent at Rs 349.20 on the BSE. During the day, it surged 10 per cent to Rs 365.05 -- its 52-week high.
At the NSE, the stock rose by 5.78 per cent to Rs 349.40.
Led by the rally in the stock, the company's market value surged Rs 843.37 crore to Rs 16,829.37 crore.
In terms of volume, 12.29 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.
According to a media report, the BSE and NSE are considering admitting shares with differential voting rights (DVRs) on their benchmark indices, Sensex and Nifty.
Differential voting rights shares are like ordinary equity shares, but are different in that they give the shareholder fewer voting rights compared with the rights that an ordinary shareholder has.
