Chaves, who rides for Mitchelton-Scott, attacked several times from a group of breakaway riders in the final climb of the 151 kilometres route from Treviso to San Martino di Castrozza, winning in 4 hours 1min 31sec.

It secured him his third individual stage victory at the Grand Tour event having also taken wins in 2016, when he finished as the overall runner-up, and 2018.

"This is pure happiness," Chaves said.

"It takes a heavy weight off my back. 

"It’s a relief to be a winner again – it shows I can do it. 

"Because the last climb wasn’t very steep, I had to attack many times. 

"A big thank you to everyone who supported me when I had a hard time."

Italy’s Andrea Vendrame of Androni Giocattoli-Sidermec finished second today, 10 seconds back.

Portugal's Amaro Antunes of CCC Team was a further two second behind in third.

Carapaz, meanwhile, retained the general classification lead after comfortably keeping his main rivals at bay in the finale.

The Movistar Team rider’s overall time now stands at 83:52:22.

Nearest challenger, Italy’s Vincenzo Nibali of Bahrain-Merida, is 1:54 back, while third-placed Slovenian Primož Roglič of Team Jumbo-Visma is an additional 22 seconds off the pace.

Carapaz said he was expecting Colombia’s Miguel Ángel López, the 12th-place finisher, to attack but that he and his team-mate Mikel Landa of Spain dealt with it in the best possible way.

"It’s another good day for us and we’re looking forward to tomorrow," he added.

"We’re ready to defend the Maglia Rosa in a harder stage than today."

The 21-stage race is due to continue tomorrow with a 194km route from Feltre to Croce d'Aune-Monte Avena. 

Action is scheduled to conclude with a time trial in Verona on Sunday (June 2).