Morgan Stanley has made a significant investment in Axis Bank, purchasing a 0.55% stake valued at Rs 2,083 crore. The acquisition involves 1.7 crore shares bought at Rs 1,225.75 each, according to NSE data. This strategic move indicates Morgan Stanley’s confidence in Axis Bank’s future performance and growth potential.
Following the transaction, Axis Bank’s shares closed 0.60% lower at Rs 1,232.10 per share, while the NSE Nifty 50 index experienced a 0.28% decline. The slight dip in Axis Bank’s stock price reflects broader market trends on the day of the purchase.
Morgan Stanley’s acquisition underscores its strategic investment strategy and highlights its belief in the long-term prospects of Axis Bank in the competitive banking landscape.
