Tata Motors Surpasses Maruti to Become India’s Most Valuable Carmaker | India Business News

NEW DELHI: Riding on success of electric vehicles and SUVs in India as well as good performance by its British subsidiary Jaguar Land Rover, Tata Motors on Tuesday drove ahead of Maruti Suzuki in market capitalisation to become India’s most valuable automobile company.
On Tuesday, shares of Tata Motors rose 2.2% to settle at Rs 859 on BSE. During the day, it jumped 5.4% to reach its 52-week high of Rs 886.Tata Motors Ltd – DVR (differential voting rights) stock gained 1.6% to Rs 573. However, shares of Maruti dipped 0.4% to Rs 9,957.
The combined market valuation of Tata Motors (Rs 2,85,516 crore) and Tata Motors Ltd – DVR (Rs 29,119 crore) stood at Rs 3,14,635 crore. This was Rs 1,576 crore more than Maruti’s Rs 3,13,059 crore valuation.

Tata Motors has witnessed a turnaround in its profitability over past few quarters as its business moves stronger in SUVs. Also electrics give the company an edge in fast-growing Indian car market. Maruti, on the other hand, is yet to launch its first electric car, even though the company has started to taste success with petrol SUVs and relatively pricier cars.
DVR shares are like ordinary equity shares but with differential voting rights. Companies issue DVRs for reasons, such as, prevention of a hostile takeover and to bring in retail investors.