BlackRock, a leading global investment management corporation, has a significant presence in India’s investment landscape and is the world’s largest asset manager with 10 trillion dollars in assets under management as of 2024.
Recently, the investment bank has also announced a joint venture with Jio Financial Services, a subsidiary of Reliance Industries Limited, to launch asset management services in India.
Listed below are the stocks in which BlackRock bought fresh stakes during Q4FY24:
AAVAS Financiers Ltd
With a market capitalization of Rs. 12,694 crores, the shares of the NBFC company started Thursday’s trading session on a flatter note at Rs. 1,638.40 compared to its previous close of Rs. 1,638.20. During the trading session, the shares hit a low of Rs. 1,594.60, losing around 3 percent and are currently trading at Rs. 1,604 apiece.
According to the BSE data, BlackRock Global Funds, a fund managed by BlackRock Inc., bought a fresh stake in the company’s shares during the recent quarter by acquiring approximately 9.44 lakh equity shares equivalent to a 1.19 percent stake and the current holding value of his investment amounts to Rs. 151.9 crores.
Looking at the company’s financial statements, the revenue increased by 2 percent from Rs. 497 crores during the September quarter to Rs. 508 crores in the December quarter. On a contrasting note, the net profits decreased by 4 percent from Rs. 122 crores to Rs. 117 crores during the same timeframe.
AAVAS Financiers, also known as Aavas, is a housing finance company based in Jaipur, India. The company specializes in providing home loans to customers in rural and semi-urban areas of India, particularly focusing on low and middle-income segments.
Team Lease Services Ltd
With a market capitalization of Rs. 5,428 crores, the shares of the employment services providing company started Thursday’s trading session on a higher note at Rs. 3,271.90 compared to its previous close of Rs. 3,251.20. During the trading session, the shares hit a high of Rs. 3.281.80, gaining around 2 percent and are currently trading at Rs. 3,258 apiece.
According to the BSE data, BlackRock Global Funds, a fund managed by BlackRock Inc., bought a fresh stake in the company’s shares during the recent quarter by acquiring approximately 1.97 lakh equity shares equivalent to a 1.17 percent stake and the current holding value of his investment amounts to Rs. 64.1 crores.
Looking at the company’s financial statements, the revenue increased by around 8 percent from Rs. 2,273 crores during the September quarter to Rs. 2,445 crores during the December quarter. In addition, the net profits zoomed by 11 percent from Rs. 28 crores to Rs. 31 crores during the same timeframe.
TeamLease Services is one of India’s leading HR companies. It provides employment-related services. It provides solutions for staffing, recruitment, training, payroll processing and regulatory compliance.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
