Tata Motors DVR up on new American share-issue report in media

Written by Reuters | Updated: Jun 19 2014, 20:28pm hrs
India's Tata Motors DVR (differential voting rights) shares jump 5 percent after a report in the Times of India, in which the newspaper said the company may issue fresh American Depository Receipts (ADR) with a DVR component, citing sources.

Liquidity for Tata Motors' DVR shares would improve and the discount may drop if the ADR issue goes through, analysts say.

Tata Motors DVR shares are currently trading at a discount of about 30 percent to the company's ordinary shares.

"We will share the details once finalised at an appropriate time," a Tata Motors spokeswoman said in a statement, without elaborating.