Morgan Stanley sells 19 lakh Yes Bank shares for Rs 69 cr

PTI Posted online: Monday, Nov 25, 2013 at 0000 hrs
Mumbai : Morgan Stanley Asia (Singapore) Pte today offloaded more than 19 lakh shares of private sector lender Yes Bank worth about Rs 69 crore.

According to the information available with stock exchanges, Morgan Stanley sold 19,71,903 scrips of Yes Bank through bulk deal.

The shares were sold at an average price of Rs 349.51 apiece valuing the transaction at Rs 68.91 crore.

In a separate bulk deal, Morgan Stanley picked up 18,042 scrips of Yes Bank at price of Rs 348.53 per share, aggregating the transaction size at Rs 62.88 lakh.

At the end of the July-September quarter, Morgan Stanley held 79.09 lakh shares, amounting to 2.19 per cent stake, of Yes Bank.

For that quarter, Yes Bank reported 21 per cent growth in net profit at Rs 371.13 crore. Total income of the bank rose to Rs 2,947.39 crore during the quarter from Rs 2,263.13 crore in the corresponding period a year ago.

Yes Bank shares today advanced 1.83 per cent to close at Rs 350.85 apiece on the BSE.