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)