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Tata Motors DVR share price rises nearly 9% after Jhunjhunwala raises stake

Tata Motors DVR share price rises nearly 9% after Jhunjhunwala raises stake
October 21
16:04 2021

The share touched a 52-week high of Rs 284 and a 52-week low of Rs 54.55 on 19 October, 2021 and 02 November, 2020, respectively.

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Tata Motors DVR share price rose 10 percent on October 21 to close at Rs 255.55 after the Ace investor Rakesh Jhunjhunwala increased his stake in the company. Rakesh Jhunjhunwala has hiked his stake in Tata Motors DVR to 3.93 percent in the September quarter from 1.97 percent in the June quarter.

Among the foreign portfolio investors (FPIs), Vanguard Emerging Markets Stock Index Fund has raised its stake in the company from 4.58 percent to 4.68 percent.

Also Read – Rakesh Jhunjhunwala exits MCX, trims stakes in three other portfolio holdings

Meanwhile, Jhunjhunwala reduced his stake in Tata Motors marginally to 1.11 percent in the quarter ended September 2021 from 1.14 percent in the June quarter.

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Generally the too much variation in stock prices of Tata Motors and Tata Motors DVR create arbitrage opportunities, which traders always use. Tata Motors trades in F&O and Tata Motors DVR is available only in cash segment. Trader buys Tata Motors DVR in cash segment and short in Tata Motors in same quantities.

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“Given above is the line chart of the ratio of Tata Motors versus Tata Motors DVR. It indicates that the ratio is now at 2.00 (Tata Motors divide by Tata Motors – around 1.98 or close to 2) and it is facing strong resistance at 2.10 which is the placement of 89 DEMA (Green colour line),” said Mehul Kothari of Anand Rathi Shares & Stock Brokers. DEMA is Double Exponential Moving Average.

In addition, “there is a falling trend line resistance construes that till the time this hurdles are not crossed the ratio could drop to 1.90 – 1.80. In such scenario, Tata Motors DVR could outperform Tata Motors on a temporary basis. On the contrary; whenever this breakout above 2.10 will get confirmed we could witness strong outperformance of Tata Motors over Tata Motors DVR,” he said.

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