Foreign fund house Morgan Stanley Mauritius today hiked its stake in financial services provider JM Financial to 4.80 per cent after acquiring additional shares worth Rs 68.24 crore through open market transactions.

Morgan Stanley Mauritius has acquired an additional 1.84 crore shares, or 2.45 per cent, stake in JM Financial at Rs 37.06 per share, totalling Rs 68.24 crore, according to details on the bulk deal available on the Bombay Stock Exchange (BSE).

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Two global fund houses -- Tiger Global Ltd and Citigroup Markets Mauritius --  sold 1.84 crore shares, or a 2.45 per cent stake in JM Financial, aggregating Rs 68.23 crore, according to a separate bulk deal on the BSE.

Tiger Global Ltd sold 1.02 crore shares at Rs 37.5 per share, totalling Rs 38.58 crore, and Citigroup Markets Mauritius sold 81.23 lakh shares of JM Financial at Rs 36.5 a piece, totalling Rs 29.65 crore.

Shares of JM Financial today closed at Rs 38.15 on the BSE, nearly 20 per cent up from the previous close.

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