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Tata Motors DVR spurts after Jhunjhunwala hikes stake

Capital Market 

Tata Motors DVR surged 6.23% to Rs 247.10 after ace investor Rakesh Jhunjhunwala raised his stake in the company to 3.93% in July-September 2021 quarter.

As on 30 September 2021, Rakesh Jhunjhunwala held 3.93% in Tata Motors DVR as against 1.97% held in the previous quarter.

Tata Motors DVR (differential voting rights) is similar to an ordinary Tata Motors share. However, it extends limited voting rights to the shareholders. Tata Motors DVR extends 1/10th voting rights of the company's ordinary shares and offers 5% more dividends to the investors.

Tata Motors is a global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses.

The auto major's consolidated net loss contracted to Rs 4,450.92 crore in Q1 FY22 as compared to a net loss of Rs 8,437.99 crore in Q1 FY21. Total revenue from operations soared 107.63% YoY to Rs 66,406.45 crore in Q1 FY22.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 21 2021. 14:33 IST