Tata Motors DVR gains on inclusion in Nifty
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Tata Motors' Differential Voting Rights (DVR) has surged 7% to Rs 260 on the National Stock Exchange (NSE) in early morning trade after the stock along with three other companies would be added in the benchmark Nifty50 index with effect from April 1.
Aurobindo Pharma (up 3% at Rs 673), Bharti Infratel (3% at Rs 386) and Eicher Motors (1.5% at Rs 19,195) were gained more than 1% each in intra-day trade.
Cairn India, Punjab National Bank (PNB) and Vedanta will be excluded from the Nifty 50 index. PNB was down 1%, while Cairn India and Vedanta were trading flat at 09:30 AM. Nifty 50 index was down 0.43% at 7,204.
The inclusion of Tata Motors' DVRs will be in addition to the company's common shares, and would effectively mean the benchmark NSE index will have 51 members, NSE said in a release on Monday.
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