BlackRock, a global investment management firm founded in 1988 and headquartered in New York City, is one of the world’s leading providers of investment, advisory and risk management solutions.
Following are the companies in which BlackRock has bought stake in 2024, as per the bulk or block deal data available with the NSE and BSE.
PTC India Limited
With a market capitalisation of Rs. 6,574.3 crore, the shares of a leading provider of power trading solutions in India surged 3.05 percent on BSE to Rs. 224.75 during the trading session of Monday, as compared to its previous closing price of Rs. 218.1.
On April 2024 (Q1 FY24-25), two of the Funds managed by BlackRock, viz, “iShares Global Clean Energy ETF” and “iShares Global Water UCITS ETF”, bought around 27.5 lakh shares and 38.67 lakh shares of PTC India Limited, respectively, at an average trading price of Rs. 217.53 per share. The total transaction was valued at Rs. 143.95 crores.
In terms of financials, PTC Indi operations stood at Rs. 3,371.7 crore in Q4 FY23-24, falling ba’s consolidated revenue from 3.6 percent from Rs. 3,496.2 crore in Q4 FY22-23. However, the net profit decreased by 25.6 percent from Rs. 129.34 crore to Rs. 96.2 crore, during the same period.
The stock has delivered positive returns of nearly 99.2 percent in the last one year, and around 14.5 percent returns year-to-date.
Founded in 1999, PTC India Limited is principally engaged in the trading of power, and holds a Category I license from the Central Electricity Regulatory Commission (CERC), the highest category with permission to trade unlimited volumes.
Titagarh Rail Systems Limited
With a market capitalisation of Rs. 24,883.7 crore, the shares of a prominent Indian rolling stock manufacturer surged nearly 2 percent on BSE to Rs. 1,864.75 during the trading session of Monday, as compared to its previous closing price of Rs. 1,829.6.
On 26th June (Q1 FY24-25), BlackRock Global Funds and BlackRock Global Emerging Markets Inc. funds managed by BlackRock Inc. bought 0.7 percent and 1.61 percent stake in the company, respectively, at an average price of Rs. 1,618 per share. The total transaction was valued at over Rs. 500 crores.
In terms of financials, Titagarh Rail’s consolidated revenue from operations stood at Rs. 1,052.4 crore in Q4 FY23-24, rising by 8 percent from Rs. 974.22 crore in Q4 FY22-23, while its after-tax profit increased by 63.8 percent from Rs. 48.2 crore to Rs. 78.95 crore, during the same period.
The stock has delivered multibagger returns of nearly 271.8 percent in the last one year, and around 78.2 percent of positive returns year-to-date.
Titagarh Rail Systems Limited, previously known as Titagarh Wagons Limited, is a leading comprehensive mobility solution provider and is mainly engaged in the manufacturing and selling of freight wagons, passenger coaches, metro trains, train electricals, steel castings, specialised equipments & bridges, ships, etc.
Written by Shivani Singh
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