Bajaj Allianz Life Insurance sells 4 lakh shares of Mastek

MUMBAI: Private sector life insurance firm, Bajaj Allianz Life Insurance Company, today offloaded nearly four lakh shares of infotech solutions company, Mastek Ltd for Rs 5 crore.

According to information available with the stock exchanges, Bajaj Allianz Life Insurance sold 3.99 lakh shares of Mastek through bulk deals.

The shares were sold on an average price of Rs 125 valuing the transaction at Rs 4.98 crore.

Meanwhile, Morgan Stanley Asia (Singapore) Pte bought three lakh shares of Mastek for Rs 3.75 crore.

Earlier in December, Bajaj Allianz Life Insurance had sold 4 lakh shares of Mastek for an estimated Rs 6.08 crore in open market transactions.

As of March quarter, Bajaj Allianz Life Insurance held 8.69 lakh shares or 3.53 per cent stake in Mastek.

Shares of Mastek rose 1.26 per cent to settle at Rs 123.70 apiece on the BSE.