Morgan Stanley and Citigroup Purchase HDFC Bank Shares Worth Rs 755 Crore in Open Market

Morgan Stanley and Citigroup acquired shares in HDFC Bank worth over Rs 755 crore via open market transactions. According to BSE data, these New York-based financial firms bought 43.75 lakh shares of the Mumbai-based bank through their affiliates. The shares were purchased at an average price of Rs 1,726.2 each, resulting in a total transaction value of Rs 755.29 crore.

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BNP Paribas Financial Markets, a division of the Paris-based BNP Paribas, sold the same number of HDFC Bank shares through two block deals at Rs 1,726.2 per share on the BSE. BNP Paribas is known for its investment banking and financial services. Last week, BNP Paribas sold HDFC Bank shares valued at Rs 543.27 crore.

Financial Market Transactions

On the NSE, Motilal Oswal Financial Services Ltd (MOFSL) acquired a 1.53% stake in Eris Lifesciences for Rs 281 crore through an open market transaction. MOFSL bought 20.79 lakh shares at an average price of Rs 1,350.18 each, bringing the deal value to Rs 280.70 crore.

Rakesh Shah, a public shareholder, sold 20 lakh shares or a 1.47% stake in Eris Lifesciences at an average price of Rs 1,350 per share, amounting to Rs 270 crore. Earlier in July, Shah reduced his stake by selling a 1.5% holding for Rs 200 crore and a further 2% stake for Rs 188.19 crore.

Market Movements and Stake Sales

Eris Lifesciences' shares decreased by 0.62%, closing at Rs 1,316 on the NSE. Details regarding other sellers of Eris Lifesciences shares were not available on the exchange.

In another transaction on the BSE, HDFC Mutual Fund acquired an 8.44 lakh share or a 0.72% stake in JK Lakshmi Cement for over Rs 66 crore through an open market deal. The shares were bought at an average price of Rs 785 each, making the total deal value Rs 66.25 crore.

Details about other sellers of JK Lakshmi Cement shares were not disclosed on the exchange. On Thursday, JK Lakshmi Cement's stock rose by 0.85%, closing at Rs 791.55 on the BSE.

HDFC Bank's stock fell by 2.55%, ending at Rs 1,682.15 per share on the BSE after these transactions.