Morgan Stanley exits from Jindal Saw

Global financial services firm Morgan Stanley has exited from Jindal Saw by selling off almost all its stake in the pipe maker through open market operations.

Morgan Stanley sold 1,48,74,295 shares or 5.3848 per cent stake in the company on December 23, Jindal Saw said in a BSE filing on Thursday.

Before the transaction, it had 1,48,75,387 shares or 5.3852 per cent stake in Jindal Saw.

Following the sale, Morgan Stanley now holds 1,092 shares in Jindal Saw amounting to 0.0004 per cent stake.

Jindal Saw's shares were trading at Rs 52.25 apiece, up 2.25 per cent during the afternoon trade in the BSE.