Morgan Stanley Acquires Stake in Titagarh Rail Systems

Morgan Stanley, a prominent investment banking firm, purchased a significant stake in Titagarh Rail Systems through an open market transaction, investing over Rs 85 crore. This acquisition follows Capital Group's sale of shares, highlighting a shift in shareholding within the mobility solutions provider.

In a notable transaction, Morgan Stanley acquired a substantial stake in Titagarh Rail Systems on Wednesday, purchasing shares worth over Rs 85 crore through an open market deal.

Details from the National Stock Exchange (NSE) reveal that the New York-based investment banking giant, via Morgan Stanley Asia Singapore, acquired 7,63,738 shares, equating to a 0.57 percent stake in the Kolkata-based company.

The shares were bought at an average price of Rs 1,120 each, totaling Rs 85.54 crore. Simultaneously, Capital Group, through its SmallCap World Fund Inc, divested over 7.90 lakh shares of Titagarh Rail Systems, amounting to Rs 88.60 crore, at a slightly higher average price. Shares of Titagarh Rail Systems closed at Rs 1,131, reflecting a 1.36 percent dip.

(With inputs from agencies.)