StanChart buys 26% in securities arm

Global banking major Standard Chartered has increased its stake-holding in Standard Chartered-STCI Capital Markets to 74.9 per cent by acquiring an additional 25.9 per cent stake for an undisclosed amount.

StanChart had acquired a 49 per cent stake in the former UTI Securities, from Securities Trading Corporation of India (STCI) in January this year for a consideration of $36 million.