Morgan Stanley Asia sells 50 lakh Tata Motors DVRs
Mumbai: Morgan Stanley Asia Thursday sold 50 lakh shares of Tata Motors with differential voting rights for Rs 80.50 crore through open market transactions.
According to bulk data available with the stock exchanges, Morgan Stanley Asia (Singapore) PTE sold 25 lakh shares of Tata Motors DVR on the BSE and the same quantum on the NSE as well.
These shares were sold on an average price of Rs 161.01 valuing the deal at Rs 80.50 crore, data showed.
Morgan Stanley Asia (Singapore) PTE held 51,84,000 shares or 1.08 percent stake in Tata Motors DVR at the end of September quarter.
Tata Motors DVR rose by 0.88 percent to settle at Rs 161.05 apiece on the BSE.
A DVR share is like an ordinary equity share, but it provides fewer voting rights to the shareholder.