Belrise Industries Extends Gains For Second Day After BlackRock Raises Stake
BlackRock bought over 70 lakh shares of Belrise Industries, representing about 0.8% equity, for nearly Rs 110 crore.
Belrise Industries Ltd. extends gains for a second straight day. The shares are trading over 4% on Wednesday, after it hit a life high in the previous trading session.
Global asset manager BlackRock Inc. increased its stake in the auto components manufacturer on Tuesday through open market share purchases.
According to NSE bulk deal data, BlackRock bought over 70 lakh shares, representing about 0.8% equity, for nearly Rs 110 crore. The firm previously held 1.06% as of September and had participated in the company’s pre-IPO anchor book.
Meanwhile, SBI Mutual Fund acquired 5.13 crore shares, amounting to a 6.6% stake, for approximately Rs 790 crore. Domestic mutual funds collectively held 3.41% earlier.
Conversely, Sumedh Tools Pvt., part of the promoter group, sold its entire holding for nearly Rs 900 crore.
