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Business News/ Market / Stock-market-news/  DVR shares rise on expectations of inclusion in NSE’s Nifty
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DVR shares rise on expectations of inclusion in NSE’s Nifty

DVR shares of companies are said to be included in the benchmark index Nifty of NSE from June

Tata Motors Ltd DVR was up 2.6% to Rs353 a piece, Future Retail Ltd DVR was up 7.1% to Rs52.50, while Jain Irrigation Systems Ltd DVR rose 2.8% to `43.9.Premium
Tata Motors Ltd DVR was up 2.6% to Rs353 a piece, Future Retail Ltd DVR was up 7.1% to Rs52.50, while Jain Irrigation Systems Ltd DVR rose 2.8% to `43.9.

Mumbai: Shares of differential voting rights (DVRs) were trading higher on Thursday after a news report said that DVR shares of companies may be included in the benchmark index Nifty of the National Stock Exchange (NSE) from June.

DVR shares differ from a common equity share of a company in terms of higher dividend and lesser voting rights. Due to this, DVRs trade at a discount to the common share. DVRs help companies raise funds while ceding less voting rights than the regular shares.

The DVR shares will be included in the benchmark index only if the regular shares of the companies that issued them are already part of the index, Mint had reported in February. Such inclusions will be subject to certain eligibility criteria and will be effective when the benchmarks are rebalanced in June.

According to the eligibility criteria as laid down by the exchange, outstanding DVRs should be 10% or more of the total shares outstanding (inclusive of ordinary shares and DVR share class) of the company.

Tata Motors Ltd DVR was up 2.6% to 353 a piece, Future Retail Ltd DVR was up 7.1% to 52.50, while Jain Irrigation Systems Ltd DVR rose 2.8% to 43.9.

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Published: 16 Apr 2015, 12:06 PM IST
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