Shasun Pharma up 10% on Morgan Stanley stake buy

Morgan Stanley Asia has bought 402,545 equity shares of Shasun Pharma for Rs 146.86 per equity share.

Shasun Pharmaceuticals is locked in upper circuit for second straight day, up 10% at Rs 165 on the NSE,  after Morgan Stanley Asia  bought nearly one per cent stake in the company for a total consideration of Rs 5.9 crore.

According to the bulk deal data of National Stock Exchange, Morgan Stanley Asia has bought 402,545 representing 0.71% total equity capital of the company for Rs 146.86 per equity share.

Meanwhile, the pharmaceutical stock has rallied 29% in past three trading sessions from Rs 128 on May 5, after the company announced a joint venture into veterinary products business and acquisition of rights to develop and sell an extended release of ibuprofen along with a brand.

At 1115 hours, a combined 2.57 million shares changed hands on the counter and there are pending buy orders for 330,427 shares on the NSE and BSE.