Morgan Stanley Ups Stake in Aditya Birla Chemicals to Over 5%

0
8 views

New Delhi: Foreign fund house Morgan Stanley Asia (Singapore) Pte has raised its stake in Aditya Birla Chemicals (India) Ltd to more than 5 per cent by acquiring shares worth Rs 141.73 crore through an open market transaction.

The fund house bought 6,12,584 shares, or a 2.61 stake, in the Aditya Birla Group firm for Rs 141.73 crore, bulk deals data available with the National Stock Exchange (NSE) showed.

The shares were bought at an average price of Rs 231.37 apiece, the data showed.

According to ABCIL’s shareholding pattern as of September 30, 2015, Morgan Stanley Asia (Singapore) held a 2.49 per cent stake in it.

With this transaction, the fund house has raised its stake to 5.10 per cent.

Meanwhile, three entities – Globe Capital, Chiranjit Singh and Unifi AIF – offloaded 4,45,422 shares worth Rs 102.96 crore.

Globe Capital has sold 1,71,415 shares at an average price of Rs 230.91 apiece and also bought 13,526 shares of the firm at a price of Rs 230.96. Chiranjit Singh has sold 1,46,807 shares at an average price of Rs 231.27 apiece and Unifi AIF has sold 1,27,200 shares at an average price of Rs 231.4 apiece.

Aditya Birla Chemicals manufactures bulk and specialty chemicals and viscose filament yarn.

The group’s chemicals business has 14 manufacturing sites – seven in India, five in Thailand, one in Germany and one in China.

The post Morgan Stanley Ups Stake in Aditya Birla Chemicals to Over 5% appeared first on Udaipur Kiran : Latest News Headlines, Current Live Breaking News from India & World.

Related Posts Plugin for WordPress, Blogger...