The Hindu Business Line : Temasek arm sells 6% in Satnam Overseas, Morgan Stanley buys part

A TEMASEK Holdings' subsidiary on Monday sold more than six per cent of its stake in Satnam Overseas in the market. Morgan Stanley & Company bought most of these shares.

Filings with stock exchanges show that Aranda Investments, a subsidiary of Temasek Holdings, sold 11.86 lakh shares (6.05 per cent) through the exchanges. Of these, 7.71 lakh shares were sold on the BSE and 4.15 lakh shares on the NSE.

Morgan Stanley bought 10 lakh shares (5.26 per cent) at Rs 90 a share.

At the end of March 2005, Aranda Investments had more than 8 per cent stake in Satnam Overseas. It had picked up this stake in October-November last year at an average price of Rs 75 a share.

With today's sale, it has made a profit of around Rs 1.8 crore.

Satnam Overseas closed at Rs 90.55, up 3.19 per cent, on the BSE on Monday.

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