Morgan Stanley sells Piramal Enterprises stake worth Rs 710 cr

Morgan Stanley today sold 1.47 per cent stake in Piramal Group's flagship firm Piramal Enterprises for over Rs 710 crore, through an open market transaction.
According to the bulk deal data available with the BSE, Morgan Stanley Asia (Singapore) Pte disposed of 25.34 lakh shares, amounting to 1.47 per cent stake in the firm.
The shares were offloaded at a price of Rs 2,804 apiece, valuing the transaction at Rs 710.51 crore.
The shares were bought by East Bridge Capital Master Fund 1 Ltd.
Piramal Enterprises' stock settled for the day on BSE at Rs 2,800.80, up 0.88 per cent from the previous close.