Morgan Stanley ups stake in Reliance Energy

Morgan Stanley ups stake in Reliance Energy
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First Published: Tue, Apr 15 2008. 02 47 PM IST
Updated: Tue, Apr 15 2008. 02 47 PM IST
PTI
Mumbai: Foreign fund house Morgan Stanley has increased its stake in Anil Ambani group firm Reliance Energy to over 5% for about Rs53.10 crore.
Morgan Stanley has acquired 461,563 shares amounting to 0.2% stake in Reliance Energy on April 8 through market purchase route, Reliance Energy said in a disclosure to the Bombay Stock Exchange.
Calculated on the basis of the closing share price of Reliance Energy on April 8 (Rs1,150.45), the deal value amounts to Rs 53.10 crore.
Prior to this transaction, Morgan Stanley had 11,587,152 shares representing 4.90 per cent which increased to 12,048,715 shares (5.1%) after the said transaction.
Shares of Reliance Energy were trading at Rs 1,259.90, down 1.66% on BSE in morning trade.
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First Published: Tue, Apr 15 2008. 02 47 PM IST