BlackRock's iShares Boosts Portfolio with Strategic Investments

BlackRock's iShares Core MSCI Emerging Markets ETF made significant stock purchases in ACC, Acutaas Chemicals, and TD Power Systems, valued at Rs 359 crore. Concurrently, the ETF divested shares in Rain Industries and Orient Electric at a combined value of Rs 39.70 crore, impacting their share prices.

On Monday, BlackRock's asset management division made strategic investments by purchasing substantial shares of three companies: ACC, Acutaas Chemicals, and TD Power Systems. The total transaction stood at Rs 359 crore, executed via open market deals.

Part of BlackRock, iShares Core MSCI Emerging Markets ETF acquired 9.82 lakh shares of ACC, 9.68 lakh of TD Power Systems, and 5.3 lakh scrips of Acutaas Chemicals. Share prices averaged Rs 1,911.86, Rs 1,852.12, and Rs 759.08 respectively, according to National Stock Exchange data.

Simultaneously, the ETF offloaded 17.83 lakh shares of Rain Industries and 12.63 lakh scrips of Orient Electric for Rs 39.7 crore. Post-divestment, shares of Orient Electric dropped 12.95% and Rain Industries 3.82%.

(With inputs from agencies.)