Morgan Stanley ups stake in Reliance Energy to over 5%
Foreign fund house Morgan Stanley has increased its stake in Anil Ambani group firm Reliance Energy to over 5% for about rupees 53.10 crore ($13.3 million).
Morgan Stanley has acquired 461,563 shares amounting to 0.20% stake in Reliance Energy on April 8 through market purchase route, Reliance Energy said in a disclosure to the Bombay Stock Exchange (BSE). Calculated on the basis of the closing share price of Reliance Energy on April 8 (rupees 1,150.45), the deal value amounts to rupees 53.10 crore. Prior to this transaction, Morgan Stanley had 11,587,152 shares representing 4.90% which increased to 12,048,715 shares (5.10%) after the said transaction. Shares of Reliance Energy were trading at rupees 1,259.90, down 1.66% on BSE in morning trade. (The Economic Times)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.