BlackRock's arm buy shares of 3 companies for Rs 359 cr

New Delhi, Nov 24 (PTI) Global asset management firm BlackRock's arm on Monday purchased shares of ACC, Acutaas Chemicals and TD Power Systems for a combined value of Rs 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 Rs 1,911.86 apiece, Acutaas Chemicals' at Rs 1,852.12 per share and TD Power Systems' at Rs 759.08 per share.

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 per cent to close at Rs 1,875 apiece, while the scrip of ACC advanced 5.46 per cent to end at Rs 1,930, and TD Power Systems' shares rose 6.25 per cent to settle at Rs 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 Rs 39.7 crore through open market transactions.

The shares were disposed of in the price range of Rs 106.13-164.45 apiece, taking the combined deal value to Rs 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 per cent to close at Rs 158.50 apiece, while the scrip of Rain Industries fell 3.82 per cent to finish at Rs 108 per piece on the NSE. PTI HG HG MR