BlackRock buys shares of two companies for Rs 207 crore via open market

US-based asset manager BlackRock on Friday acquired shares of Electrosteel Castings and PTC India Ltd for Rs 207 crore through open market transactions.

BlackRock, through its affiliates iShares II Public Ltd Company - iShares Global Water UCITS ETF, iShares Global Clean Energy ETF and iShares Global Clean Energy UCITS ETF purchased shares of two companies.

iShares is a collection of exchange-traded funds managed by BlackRock.

According to the bulk deal data available with the National Stock Exchange (NSE), iShares Global Water UCITS ETF bought 32.28 lakh shares of Electrosteel Castings at an average price of Rs 196.21 per scrip, taking the deal value to Rs 63.35 crore.

In addition, iShares Global Clean Energy ETF purchased 27.50 lakh shares of PTC India, and iShares Global Clean Energy UCITS ETF acquired 38.67 lakh shares of the firm at an average price of Rs 217.53 apiece, taking the transaction value to Rs 143.95 crore.

The combined deal value of both transactions is Rs 207.30 crore.

Meanwhile, BNP Paribas Arbitrage sold 16.18 lakh shares of PTC India Ltd.

In a separate transaction, iShares II Public Ltd Company - iShares Global Water UCITS ETF sold 8.55 lakh shares of Ion Exchange (India) Ltd for Rs 46 crore.

iShares II Public Ltd Company - iShares Global Water UCITS ETF offloaded 8.55 lakh shares of Ion Exchange (India).

The shares were disposed of at an average price of Rs 541.08 per piece, taking the deal value to Rs 46.26 crore, as per the data on the NSE.

Shares of PTC India surged 11.29 per cent to close at Rs 234.05 apiece, the scrip of Electrosteel Castings jumped 4.46 per cent to settle at Rs 196.80 per scrip and the stock of Ion Exchange (India) plunged 3.05 per cent to end at Rs 541.90 per piece on the NSE.

In another bulk deal on the BSE, two entities acquired shares of GMR Power and Urban Infra for over Rs 45 crore through open market transactions.

Winro Commercial India picked up 39.92 lakh shares and Singularity Holdings acquired 40 lakh shares, amounting to a 1.32 per cent stake in GMR Power and Urban Infra.

The shares were purchased at an average price of Rs 57.30 apiece, taking the transaction value to Rs 45.80 crore.

Varanium Capital Advisors offloaded 79.43 lakh shares of GMR Power and Urban Infra (GMR&UI) at the same price.

Noida-based Varanium Capital Advisors through its affiliate Varanium India Opportunity Fund Ltd sold the shares of the company.

This took the deal value to Rs 45.52 crore.

On Friday, the scrip of GMR Power and Urban Infra jumped 4.98 per cent to close at Rs 57.30 apiece on the BSE.