BlackRock trims Escorts stake; sells shares worth Rs 22.7 cr

BlackRock has trimmed its stake in engineering and farm equipment maker Escorts by selling 4.41 lakh shares worth around Rs 22.7 crore through a market transaction. As per a regulatory filing, BlackRock Inc, which had 3.20 percent stake earlier, brought down its shareholding in the company to 2.84 percent by selling shares on September 19, 2019.

Based on the weighted average price of Escorts' stock at Rs 514.50 apiece on September 19, 2019, the transaction is estimated at Rs 22.7 crore. Shares of Escorts were trading 4.51 percent lower at Rs 606 apiece on the BSE.