Tata group firm tata motors confirms delisting from NYSE termination of ADS program – Business News India

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Tata group firm tata motors confirms delisting from NYSE termination of ADS program – Business News India

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Shares of Tata Group giant Tata Motors have been de-listed from the New York Stock Exchange (NYSE). Tata Motors said it is voluntarily de-listing its ordinary shares from the New York Stock Exchange.

Explain that the process of removing the stock from the stock exchange is called de-listing. After this, buying and selling of shares is not possible. However, investors who already own shares get an opportunity to sell.

What is the reason: Tata Motors said in a regulatory notice that due to regulatory restrictions imposed under Indian law, its American Depository Receipts (ADS) will not be traded in the US market. Tata Motors said ADS holders can deposit their shares with a depository at the New York Exchange. This work will have to be done by July 24, 2023. After the specified time, the depository can sell the remaining equity shares.

Will there be an impact on the Indian market: Tata Motors said the move will have no impact on the trading or current listing status of its equity shares on the BSE or NSE in India. Let us tell you that on Tuesday, there was a rise of more than 3 percent in the share price of Tata Motors.

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