HDFC Mutual Fund acquires all the Schemes of Morgan Stanley Mutual Fund in India

Housing Development Finance Corporation Ltd has signed a definitive agreement for HDFC Mutual Fund to acquire all the eight schemes of Morgan Stanley Mutual Fund in India. The agreement is subject to regulatory approvals as required.

The average combined assets under management of the 8 schemes for quarter ended September 30, 2013 was Rs. 3290 crores.

Shares of Housing Development Finance Corporation Ltd was last trading BSE at Rs.790.35, down by Rs.9.75 or 1.22%. The stock hit an intraday high of Rs.806 and intraday low of Rs.788.25.

The total traded quantity was 0.68 lakh shares as compared to 2 week average of 0.95 lakh shares.

Source : Equity Bulls

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