Litman Gregory sells 14.37 lakh Piramal shares

Litman Gregory Masters today offloaded nearly 14.37 lakh shares of Piramal Enterprises in an open market transaction worth little over Rs 76 crore.
According to bulk deal information with the bourses, Litman sold 14,36,989 shares of Piramal.
Piramal shares were sold at an average price of Rs 530.04 apiece, amounting the transaction to Rs 76.16 crore.
Separately, Morgan Stanley Asia (Singapore), a shareholder of Piramal, acquired 13.9 lakh shares of the company for an estimated Rs 73.76 crore, through open market route.
For quarter-ended December 2013, Morgan Stanley held 21 lakh shares of Piramal representing 1.22 per cent stake in the company.

Piramal Enterprises is one of country's largest diversified companies with a presence in pharmaceutical, financial services and healthcare information management sectors. It had consolidated revenues of over USD 650 million in 2013-14.
Shares of Piramal Enterprises rose by 1.74 per cent to close at Rs 536.15 apiece on the BSE.