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JP Morgan increases stake in 3i Infotech by 3.9%

LiveMint logoLiveMint 13-06-2014 Nikita Abhyankar

Financial services firm JPMorgan Chase & Co. of the US on Friday increased its stake in 3i Infotech Ltd from 4.71% to 8.61%.

In a filing to Bombay Stock Exchange (BSE), JPMorgan said JPMorgan Clearing Corp. and JPMorgan Securities Plc together increased their stake in the information technology (IT) firm by 3.9% buying over 20 million shares for about `572 crore from the open market.

JP Morgan is a leading global company in asset management, investment banking, private banking, treasury and securities services, and commercial banking and 3i Infotech is based in Noida and, according to the company website, has over 1,500 customers.

Shares of 3i Infotech dropped 4.99% to close at `12.56 a piece while the benchmark index, Sensex lost 1.36% to close at 25228.17 points.

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