BlackRock's arm buy shares of 3 companies for ₹359 crore

Global asset management firm BlackRock’s arm on Monday (November 24) purchased shares of ACC, Acutaas Chemicals and TD Power Systems for a combined value of ₹359 crore through open market transactions.

The US-based BlackRock’s affiliate, iShares Core MSCI Emerging Markets ETF, acquired 9.82 lakh equity shares of ACC, purchased 9.68 lakh shares of TD Power Systems and bought 5.3 lakh scrips of Acutaas Chemicals, as per the bulk deal data on the NSE.

As per the data, shares of ACC were purchased at an average price of ₹1,911.86 apiece, Acutaas Chemicals’ at ₹1,852.12 per share and TD Power Systems’ at ₹759.08 per share.

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iShares is a global leader in Exchange Traded Funds (ETFs) with a line-up of over 1,600 funds, and it is a part of asset manager BlackRock. Details of the sellers of shares of three companies could not be ascertained on the National Stock Exchange (NSE).

On Monday, shares of Acutaas Chemicals jumped 10.18% to close at ₹1,875 apiece, while the scrip of ACC advanced 5.46% to end at ₹1,930, and TD Power Systems’ shares rose 6.25% to settle at ₹770.10 apiece on the NSE.

In two separate bulk deals on the NSE, iShares Core MSCI Emerging Markets ETF offloaded 17.83 lakh shares of Rain Industries, and the affiliate sold 12.63 lakh scrips of Orient Electric for ₹39.7 crore through open market transactions.

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The shares were disposed of in the price range of

₹106.13-164.45 apiece, taking the combined deal value to ₹39.70 crore. Details of the buyers of Rain Industries and Orient Electric’s shares could not be identified on the exchange.

Shares of Orient Electric plunged by 12.95% to close at ₹158.50 apiece, while the scrip of Rain Industries fell 3.82% to finish at ₹108 per piece on the NSE.