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StanChart to acquire stake in UTI Sec.

MUMBAI: Standard Chartered Plc. on Thursday entered into a strategic partnership with the Securities Trading Corporation of India (STCI) to acquire the latter’s 49 per cent stake in UTI Securities for Rs. 147 crore. STCI owns 100 per cent of UTI Securities after acquiring it in 2006 from the Administrator of the Specified Undertaking of the Unit Trust of India (UTI).

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