Credit Suisse buys MTNL shares worth Rs 11.68 crore

MUMBAI: Global financial services major Credit Suisse today acquired over 30 lakh shares of state-run Mahanagar Telephone Nigam Ltd ( MTNL) for about Rs 11.68 crore.

Credit Suisse bought 31,75,358 shares at Rs 36.79 apiece, according to information on bulk deals data available with the National Stock Exchange.

At this price, the transaction is valued at Rs 11.68 crore.

The shares were purchased by Credit Suisse (Singapore) Ltd.

Following the transaction, Credit Suisse has about 0.5 per cent stake in the telecom company.

There were also other bulk deals in MTNL counter. Shares of MTNL fell 2.92 per cent to close at Rs 36.60 on the BSE.