Morgan Stanley buys Titagarh Rail Systems shares for Rs 85 crore

Investment banking firm Morgan Stanley on Wednesday bought shares of Titagarh Rail Systems for over Rs 85 crore through an open market transaction.

New York-headquartered Morgan Stanley, through its affiliate Morgan Stanley Asia Singapore, purchased 7,63,738 shares or 0.57 per cent stake in Kolkata-based Titagarh Rail Systems, as per the bulk deal data available on the NSE.

The shares were acquired at an average price of Rs 1,120 apiece, taking the transaction value to Rs 85.54 crore.

Meanwhile, through its arm SmallCap World Fund Inc, Capital group sold more than 7.90 lakh shares of mobility solution provider Titagarh Rail Systems at an average price of Rs 1,120.12 apiece, as per the data on the National Stock Exchange (NSE).

This took the deal value to Rs 88.60 crore.
On Wednesday, shares of Titagarh Rail Systems slipped 1.36 per cent to close at Rs 1,131 per piece on the NSE.