Morgan Stanley continues to sell shares of Indian cos
Morgan Stanley, the second-largest US securities firm, continued to sell shares of Indian companies amid rumours of a possible merger with Wachovia Corp.
By ET Bureau |
MUMBAI: Morgan Stanley, the second-largest US securities firm, continued to sell shares of Indian companies amid rumours of a possible merger with Wachovia Corp.
As per the bulk deal log on BSE, Morgan Stanley Mauritius sold shares worth Rs 454.74 crore of Adhunik Metals, Asian Electronics, DS Kulkarni, Electrosteel Castings, Ganesh Housing, GTL, JMC Project, KS Oils, Lakhmi Overseas, Megasoft, MIC Elect, Nagarjuna Fertiliser, Org Informatics, Paramount Communication, Prajay Engineering, PTC India, Rolta India, Ruchi Soya, S Kumars Nationwide, SREI Infra, Sterlite Technology, Sujana Tower, Usha Martin and Voltas.
On the National Stock Exchange, the beleaguered US securities major offloaded shares worth Rs 815 crore, by selling its holdings in Aptech, Jai Corp, JM Financial, Jaiprakash Associates, NIIT, Prakash Industries, Reliance Capital and Suzlon Energy.
Market watchers said not all the stocks were sold in the open market. In many cases, it was merely the shifting of funds managed in the participatory note account of Morgan Stanley, into similar accounts managed by other FIIs.
Goldman Sachs also sold shares of Indian companies worth almost Rs 182 crore. The stocks included PSL, Ruchi Soya, Automo Corp, CMC, Madras Cement and SRF. As per provisional data, FIIs were net sellers of Rs 1,200 crore on Thursday.
As per the bulk deal log on BSE, Morgan Stanley Mauritius sold shares worth Rs 454.74 crore of Adhunik Metals, Asian Electronics, DS Kulkarni, Electrosteel Castings, Ganesh Housing, GTL, JMC Project, KS Oils, Lakhmi Overseas, Megasoft, MIC Elect, Nagarjuna Fertiliser, Org Informatics, Paramount Communication, Prajay Engineering, PTC India, Rolta India, Ruchi Soya, S Kumars Nationwide, SREI Infra, Sterlite Technology, Sujana Tower, Usha Martin and Voltas.
On the National Stock Exchange, the beleaguered US securities major offloaded shares worth Rs 815 crore, by selling its holdings in Aptech, Jai Corp, JM Financial, Jaiprakash Associates, NIIT, Prakash Industries, Reliance Capital and Suzlon Energy.
Market watchers said not all the stocks were sold in the open market. In many cases, it was merely the shifting of funds managed in the participatory note account of Morgan Stanley, into similar accounts managed by other FIIs.
Goldman Sachs also sold shares of Indian companies worth almost Rs 182 crore. The stocks included PSL, Ruchi Soya, Automo Corp, CMC, Madras Cement and SRF. As per provisional data, FIIs were net sellers of Rs 1,200 crore on Thursday.
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