Tata Motors Overtakes Maruti as India's Most Valuable Auto Firm
Jan 30, 2024 18:00
Tata Motors surpassed Maruti Suzuki India in market capitalization, driven by strong stock performance. The combined valuation of Tata Motors and its DVR shares exceeded Maruti's.
Photograph: Rahul Singh/ANI Photo
New Delhi, Jan 30 (PTI) Tata Motors on Tuesday became the country's most valuable auto company by market capitalisation, combining the company's valuation as well as the DVR shares, racing past Maruti Suzuki India.
Shares of Tata Motors climbed 2.19 per cent to settle at Rs 859.25 apiece on the BSE. During the day, it jumped 5.40 per cent to reach its 52-week high of Rs 886.30.
Tata Motors Ltd - DVR stock gained 1.63 per cent to Rs 572.65.
However, shares of Maruti dipped 0.36 per cent to Rs 9,957.25.
The combined market valuation of Tata Motors (Rs 2,85,515.64 crore) and Tata Motors Ltd - DVR (Rs 29,119.42 crore) stood at Rs 3,14,635.06 crore. This was Rs 1,576.56 crore more than Maruti's Rs 3,13,058.50 crore valuation.
Tata Motors was the biggest gainer among the Sensex and Nifty firms.
DVR (Differential Voting Rights) shares are like ordinary equity shares but with differential voting rights. Companies issue DVRs for several reasons such as prevention of a hostile takeover and to bring in retail investors.
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