Morgan Stanley ups stake in REL to over 5%

Foreign fund house Morgan Stanley has increased its stake in Anil Ambani group firm Reliance Energy to over 5 per cent for about Rs 53.10 crore.Morgan Stanley has acquired 461,563 shares amounting to 0.20 per cent stake in Reliance Energy (REL) on April 8 through market purchase route, Reliance Energy said in a disclosure to the Bombay Stock Exchange.Calculated on the basis of the closing share price of Reliance Energy on April 8 (Rs 1,150.45), the deal value amounts to Rs 53.10 crore.

Prior to this transaction, Morgan Stanley had 11,587,152 shares representing 4.90 per cent which increased to 12,048,715 shares (5.10 per cent) after the said transaction. Shares of Reliance Energy were trading at Rs 1,259.90, down 1.66 per cent on BSE in morning trade.