Morgan Stanley, Citigroup buy HDFC Bank shares worth ₹755 crore

According to the block deal data available on the BSE, New York-headquartered financial services companies Morgan Stanley and Citigroup through their affiliates purchased 43.75 lakh shares of the Mumbai-based bank.

The shares were picked up at an average price of ₹1,726.2 apiece, taking the combined transaction value to ₹755.29 crore.

According to exchange data, BNP Paribas' arm BNP Paribas Financial Markets divested the same number of shares through two separate block deals at ₹1,726.2 apiece on the BSE.

BNP Paribas is an investment bank and financial services company.

Last week, Paris-based BNP Paribas offloaded shares of HDFC Bank for ₹543.27 crore.

Shares of HDFC Bank fell 2.55 percent to close at ₹1,682.15 apiece on the BSE.

In a separate transaction on the NSE, Motilal Oswal Financial Services Ltd (MOFSL) picked up a 1.53 percent stake in Eris Lifesciences for ₹281 crore through an open market transaction.

The NSE data showed that MOFSL acquired 20.79 lakh shares or 1.53 percent stake in Eris Lifesciences.

The shares were bought at an average price of ₹1,350.18 apiece, taking the deal value to ₹280.70 crore.

Meanwhile, a public shareholder, Rakesh Shah, sold 20 lakh shares or 1.47 percent stake in Ahmedabad-headquartered Eris Lifesciences at an average price of ₹1,350 per piece. The deal value was ₹270 crore.

Details of other sellers of pharma company Eris Lifesciences shares could not be ascertained on the NSE.

In July this year, Rakesh Shah trimmed its holding in Eris Lifesciences by divesting a 1.5 percent stake in the company for ₹200 crore. Prior to that, Shah pared a 2 percent stake in the pharma company for ₹188.19 crore in July 2023.

Eris Lifesciences shares fell 0.62 percent to close at ₹1,316 apiece on the NSE.

In another deal on the BSE, HDFC Mutual Fund purchased 8.44 lakh shares or 0.72 percent stake in JK Lakshmi Cement for over ₹66 crore through an open market transaction.

The shares were picked up at an average price of ₹785 apiece, taking the deal value to ₹66.25 crore.

Details of other sellers of JK Lakshmi Cement shares could not be identified on the exchange.

On Thursday, JK Lakshmi Cement shares rose 0.85 percent to end at ₹791.55 apiece on the BSE.