Big Banks Make Bold Moves: Major Transactions Shifting Shareholding Landscapes

Morgan Stanley and Citigroup have acquired shares worth over Rs 755 crore in HDFC Bank, while BNP Paribas divested a similar number of shares. Additionally, Motilal Oswal Financial Services purchased a 1.53% stake in Eris Lifesciences for Rs 281 crore. Other significant market transactions involved JK Lakshmi Cement shares.

In a significant market event, financial giants Morgan Stanley and Citigroup acquired shares worth over Rs 755 crore in HDFC Bank through open market transactions. The shares, purchased from BNP Paribas Financial Markets, were traded at an average price of Rs 1,726.2 each.

Meanwhile, Motilal Oswal Financial Services made a notable acquisition in the pharmaceutical sector, purchasing a 1.53% stake in Eris Lifesciences for Rs 281 crore. The shares were acquired at an average rate of Rs 1,350.18 per piece, with public shareholder Rakesh Shah selling a substantial portion of his holdings.

In another transaction, HDFC Mutual Fund secured 8.44 lakh shares, or a 0.72% stake, in JK Lakshmi Cement for over Rs 66 crore. This series of high-value trades reflects the shifting dynamics in the financial and pharmaceutical sectors.

(With inputs from agencies.)