1. Morgan Stanley ups stake in ABCIL to over 5%; invests Rs142 cr

Morgan Stanley ups stake in ABCIL to over 5%; invests Rs142 cr

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

By: | New Delhi | Published: November 24, 2015 9:00 PM
According to ABCIL's shareholding pattern as on September 30, 2015, Morgan Stanley Asia (Singapore) held 2.49 per cent stake in it. (Reuters)

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

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

As per bulk deals data available with NSE, the fund house bought 6,12,584 shares, or 2.61 stake, in the Aditya Birla Group firm for Rs 141.73 crore.

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

According to ABCIL’s shareholding pattern as on September 30, 2015, Morgan Stanley Asia (Singapore) held 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. P

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