 "Tata Sponge dips on Morgan Stanley stake sale")
Tata Sponge Iron has dipped 4% to Rs 741 on the National Stock Exchange (NSE) after Morgan Stanley sold nearly two percentage points take Tata Group Company through open market transactions.
Last week, Morgan Stanley Asia (Singapore) Pte had offloaded 250,909 equity shares representing 1.63% stake in Tata Sponge Iron for Rs 19.49 crore.
Morgan Stanley Asia (Singapore) Pte offloaded 1,05,307 equity shares of sponge iron producer Tata Sponge Iron at Rs 755.58 apiece through a block deal on Wednesday.
On October 20, Morgan Stanley Asia (Singapore) sold 145,602 equity shares of Tata Sponge Iron at price of Rs 791.59 per share on NSE, the bulk deal data shows.
The stock opened at Rs 773 and touched a low of Rs 737 on NSE. A combined 421,418 shares changed hands on the counter till 1420 hours on NSE and BSE.
Last week, Morgan Stanley Asia (Singapore) Pte had offloaded 250,909 equity shares representing 1.63% stake in Tata Sponge Iron for Rs 19.49 crore.
Morgan Stanley Asia (Singapore) Pte offloaded 1,05,307 equity shares of sponge iron producer Tata Sponge Iron at Rs 755.58 apiece through a block deal on Wednesday.
On October 20, Morgan Stanley Asia (Singapore) sold 145,602 equity shares of Tata Sponge Iron at price of Rs 791.59 per share on NSE, the bulk deal data shows.
The stock opened at Rs 773 and touched a low of Rs 737 on NSE. A combined 421,418 shares changed hands on the counter till 1420 hours on NSE and BSE.