Indian Economy News

JP Morgan acquires 4.11% stake in M&M Financial Services

  • Livemint" target="_blank">Livemint
  • January 8, 2015

Mumbai: JP Morgan Asset Management (UK) Ltd, JP Morgan Investment Management Inc and JP Morgan Chase Bank NA, have acquired a 4.11% stake in Mahindra & Mahindra Financial Services Ltd for Rs.113.75 crore, the company told stock exchanges.

The transaction was concluded during market hours. The seller has also sold 0.94% shares including the 4.11% which carried voting rights. Company officials declined to comment on the transaction.

Shares of M&M Financial Services closed at Rs.314.20, down 1.94% while the benchmark BSE Sensex closed at 26908.82 points down 0.29%.

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