Morgan Stanley buys United Spirits' shares worth Rs 229 cr
Morgan Stanley Asia purchased 10.80 lakh shares of United Spirit Limited for an estimated Rs 229 crore. The stake amounted to 0.74 percent of United Spirits through an open market transaction.
June 28, 2013 / 19:07 IST
Foreign fund house, Morgan Stanley Asia, today purchased 10.80 lakh shares of Vijay Mallya-led United Spirits Ltd for an estimated Rs 229 crore.
According to information available with the stock exchanges, Morgan Stanley Asia (Singapore) bought 10,80,142 shares, amounting to 0.74 percent stake, of United Spirits through an open market transaction.Also read: Book profits in United Spirits, advises Phani SekharThe shares were purchased on an average price of Rs 2,118.23 valuing the transaction to Rs 228.79 crore, data showed.However, the seller of the shares could not be ascertained.Earlier this month, Morgan Stanley Asia had sold 24.50 lakh shares of United Spirits for over Rs 566 crore to by Bank of Nova Scotia Asia.As of May 31, Morgan Stanley Asia held 58.46 lakh shares, which is equivalent to 4.02 percent stake in United Spirits. United Spirits' shares declined by 2.46 percent to settle at Rs 2,171 apiece on the BSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
