- Belrise Industries shares rose over 4% for a second day after a life high
- BlackRock increased its stake by 0.8% through open market purchases worth Rs 110 crore
- SBI Mutual Fund acquired 6.6% stake by buying 5.13 crore shares for Rs 790 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.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
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.
Belrise Industries Block Deal: BlackRock Raises Stake After Promoter Exit, SBI Mutual Fund Other BuyerEssential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
