The share price of Gitanjali Gems on Friday closed at Rs 3.84.
While global market performance remains a key to the absolute performance of Indian stocks in the near term, India's beta to the world has dropped to a 13-year low and possibly sets the stage for India's outperformance in a low-return world. Morgan Stanley said.
New Delhi: Investment firm Morgan Stanley has sold 37.86 lakh shares of scam-hit jewellery firm Gitanjali Gems through open market transactions, according to a regulatory filing.
Shareholding of Morgan Stanley Mauritius Company Ltd and Morgan Stanley (France) has come now down to 2.06 per cent from 5.25 per cent. On May 9, Morgan Stanely sold 37,86,860 shares of Gitanjali Gems, the filing said.
The share price of Gitanjali Gems on Friday closed at Rs 3.84. Central investigating agencies such as the CBI and the Enforcement Directorate are looking into the over Rs 13,000-crore fraud at Punjab National Bank (PNB) allegedly involving jeweller Nirav Modi and his uncle Mehul Choksi, the promoter of Gitanjali Gems.
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