United Spirits has rallied 5% to Rs 2,389, extending its past four day’s rally, after Morgan Stanley acquired additional stake in the company through open market purchase.
The stock opened at Rs 2,272 and touched high of Rs 2,399 on BSE. A combined 544,403 shares change hands on the counter till 1100 hours on BSE and NSE.
Morgan Stanley Asia (Singapore), Morgan Stanley India Capital Private Limited and Morgan Stanley & Co. International plc, have purchased 350,000 shares of the company through market purchase on August 29, United Spirits said in a regulatory filing.
Post acquisition, Morgan Stanley's holding in the company increased to 5.0976% from 4.8576% earlier, it added.
The stock has rallied 16% in past one week from Rs 2,064 on August 28 as compared to 3.1% rise in benchmark S&P BSE Sensex.
The stock opened at Rs 2,272 and touched high of Rs 2,399 on BSE. A combined 544,403 shares change hands on the counter till 1100 hours on BSE and NSE.
Morgan Stanley Asia (Singapore), Morgan Stanley India Capital Private Limited and Morgan Stanley & Co. International plc, have purchased 350,000 shares of the company through market purchase on August 29, United Spirits said in a regulatory filing.
Post acquisition, Morgan Stanley's holding in the company increased to 5.0976% from 4.8576% earlier, it added.
The stock has rallied 16% in past one week from Rs 2,064 on August 28 as compared to 3.1% rise in benchmark S&P BSE Sensex.