Why Are Tata Motors Shares Sinking Today?

Shares of Tata Motors were down more than 1.5% on Thursday as the automobile manufacturing stock went ex-dividend.

What Happened? The Tata Group stock had announced a final dividend of ₹2 per ordinary share and a dividend of ₹2.1 per ‘A' ordinary share when it released its March-quarter results.

The stock has risen 8% in the last month and gained 60% so far this year. Tata Motors has been far and away the best-performing Tata stock this year.

The company recently said it will cancel its differential voting rights (DVRs) 15 years after their issuance, which is likely to be accretive to all shareholders involved.

Price Action: Tata Motors shares sank 1.43% to ₹634.5 in morning trade on Thursday likely due to some profit-taking as well.

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