MUFG raises stake in Dr Reddy's to 8.41 per cent

Hyderabad: Pharmaceuticals major Dr Reddy's said on Tuesday that Mitsubishi UFJ Financial Group (MUFG) has acquired an indirect interest amounting to 8.41 per cent stake in it following acquisition of entities that hold shares of the company.

In a regulatory filing on the BSE Website, the Hyderabad-based firm said MUFG has acquired First State Investments (UK), First State Investments (Singapore) Colonial First State Asset Management (Australia), First State Investments Ltd, Mitsubishi UFJ Trust and Banking Corporation and Mitsubishi UFJ Kokusai Asset Management on August 2.

"These entities directly hold shares in Dr Reddy's Laboratories Ltd," the filing said, adding that after the transaction, MUFG has an aggregated interest of 8.41 per cent in the homegrown drug maker.