Global investment major BlackRock has strengthened its exposure to Indian equities, with its ETF arm iShares Core MSCI Emerging Markets ETF purchasing shares worth ₹359 crore across ACC, Acutaas Chemicals, and TD Power Systems through open-market transactions.
Breakdown of Key Purchases
Bulk deal data from the NSE shows that iShares acquired:
- ACC: 9.82 lakh shares at an average price of ₹1,911.86 each
- TD Power Systems: 9.68 lakh shares at ₹759.08 per share
- Acutaas Chemicals: 5.3 lakh shares at ₹1,852.12 per share
iShares, one of the world’s largest ETF platforms with a portfolio of more than 1,600 funds, operates under the umbrella of BlackRock’s global asset management business.
Market Reaction: Stocks Rally Post Buying Activity
The acquisitions triggered strong buying interest across the three counters on Monday:
- Acutaas Chemicals surged 10.18% to close at ₹1,875
- ACC advanced 5.46%, ending the day at ₹1,930
- TD Power Systems rose 6.25% to ₹770.10
iShares Offloads Stake in Rain Industries and Orient Electric
In another set of bulk deals on the same day, iShares exited positions in Rain Industries and Orient Electric. The ETF sold:
- 17.83 lakh shares of Rain Industries
- 12.63 lakh shares of Orient Electric
The combined sale value amounted to ₹39.7 crore, with shares traded in the ₹106.13–₹164.45 price range.
Stock Impact: Selling Pressure Drags Prices Down
The offloading activity weighed on both counters:
- Orient Electric slipped 12.95% to ₹158.50
- Rain Industries declined 3.82% to ₹108
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