BNP Paribas buys 15 lakh Karnataka Bank shares for Rs 17 cr

MUMBAI: BNP Paribas Arbitrage today acquired 15 lakh shares of private sector lender Karnataka Bank for an estimated Rs 17 crore through open market transactions.

As per the bulk deal information with the bourses, BNP Paribas purchased 15 lakh shares (amounting to 0.79 per cent stake) of the private sector bank.

The shares were bought at Rs 113.63 apiece valuing the transaction at a little over Rs 17 crore.

Last month, foreign investor Swiss Finance Corporation had offloaded 11.22 lakh shares of Karnataka Bank for around Rs 12 crore, while Religare Finvest had sold 12 lakh shares of the bank for an estimated Rs 13 crore.

In a separate bulk deal, foreign fund house Morgan Stanley Asia (Singapore) Pte picked up 27.03 lakh shares of Apollo Tyres in a transaction worth Rs 17.13 crore.

Morgan Stanley purchased a total of 27,03,751 shares of Apollo Tyres for Rs 63.37 apiece.

On the BSE, shares of Karnataka Bank today slipped 2.44 per cent to settle at Rs 112.05 apeice, while scrip of Apollo Tyres gained 0.24 per cent to end the day at Rs 63.30 apiece.