Morgan Stanley exits from Jindal Saw

It sold its stake in the pipe maker through open market operations

Global financial services major Morgan Stanley has exited from Jindal Saw by selling off almost all its stake in the pipe maker through open market operations.

Morgan Stanley sold 1,48,74,295 shares or 5.3848% stake in the company on December 23, Jindal Saw said in a BSE filing today.

Before the transaction, it had 1,48,75,387 shares or 5.3852% stake in Jindal Saw.

Following the sale, Morgan Stanley now holds 1,092 shares in Jindal Saw amounting to 0.0004% stake.

Jindal Saw's shares were trading at Rs 52.25 apiece, up 2.25% during the afternoon trade in the BSE.