Radico Khaitan gains on Morgan Stanley stake buy

Shares of Radico Khaitan were up over 4% at Rs 166 on the BSE after Morgan Stanley Asia Singapore acquired over 1.5% equity stake in the company.

Morgan Stanley Asia Singapore PTE on Wednesday has bought 10.65 lakh shares at Rs 159.50 on the National Stock Exchange and 9.80 lakh shares at Rs 159.84 on the Bombay Stock Exchange.

The company's paid-up equity capital stood at Rs 26.58 crore as on March 31, 2013. The equity shares have a face value of Rs 2 each.

Over 2 million shares compared with a two-week average of 4.6 lakh shares on the BSE.