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

Morgan Stanley and Citigroup on Thursday bought shares of private sector lender HDFC Bank for over Rs 755 crore through open market transactions. 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 Rs 1,726.2 apiece, taking the combined transaction value to Rs 755.29 crore.

These shares were sold by BNP Paribas' arm BNP Paribas Financial Markets through two separate block deals at the same price 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 Rs 543.27 crore.

Shares of HDFC Bank fell 2.55 per cent to close at Rs 1,682.15 apiece on the BSE.