Morgan Stanley and Citigroup acquire HDFC Bank shares worth ₹755 crore

In a major share market investment, Morgan Stanley and Citigroup recently purchased 43.75 lakh shares of HDFC Bank for over ₹755 crore through open market transactions. The shares were bought at a price of ₹1,726.2 apiece, according to the block deal data available on the Bombay Stock Exchange (BSE). This transaction highlights a significant move in the share market, underlining the growing interest of global financial institutions in the Indian banking sector.

The shares were sold by BNP Paribas Financial Markets, a subsidiary of the Paris-based financial services company BNP Paribas, through two separate block deals. Interestingly, this is not the first time BNP Paribas has divested its stake in HDFC Bank. Last week, the firm offloaded shares worth ₹543.27 crore, further reducing its holding in the Mumbai-based private lender.

HDFC Mutual Fund acquires shares in JK Lakshmi Cement

In another notable share market investment, HDFC Mutual Fund purchased 8.44 lakh shares of JK Lakshmi Cement for over ₹66 crore. The shares were bought at a price of ₹785 apiece, and the stock ended the day at ₹791.55 per share, reflecting a 0.85% gain on the BSE. The fund’s purchase represents a 0.72% stake in the cement company, adding diversity to its investment portfolio.

Other major transactions in the market

While Morgan Stanley and Citigroup’s acquisition of HDFC Bank shares was a highlight, the broader share market also saw Motilal Oswal Financial Services Ltd (MOFSL) acquiring a 1.53% stake in Eris Lifesciences for ₹281 crore. This transaction further underscores the dynamic nature of share market investments across various sectors in India, from banking and pharmaceuticals to cement.

Key takeaways

• Morgan Stanley and Citigroup purchased 43.75 lakh shares of HDFC Bank for ₹755 crore at ₹1,726.2 apiece.
• HDFC Mutual Fund acquired a 0.72% stake in JK Lakshmi Cement, further diversifying its share market investment portfolio.
• BNP Paribas continues to reduce its stake in HDFC Bank, with a recent divestment of shares worth ₹543.27 crore.