Indian cos may take a hit as BlackRock moves away from coal-based firms

BlackRock's alternatives business will make 'no future direct investments in companies that generate more than 25 per cent of their revenues from thermal coal production'

The world’s largest asset manager BlackRock’s announcement that it will pull out its investments in companies that get 25 per cent of their revenues from thermal coal production, besides making no future direct investment in such firms, could shrink the bouquet of investors for players like NTPC, the Adani group and Coal India (CIL).

“We are in the process of removing from our discretionary active investment portfolios the public securities (both debt and equity) of companies that generate more than 25 per cent of their revenues from thermal coal production, which we aim to accomplish by the middle of 2020,” BlackRock’s