Blackrock Global Funds picks shares worth Rs 762 cr in Tata Communications, Rs 921-crore stake in Polycab

Blackrock Global Funds-India Fund also bought 17.49 lakh shares, equivalent to 1.16 percent of paid-up equity in Polycab India.

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Blackrock has bought 1.56 percent shares in Tata Communications, and 1.17 percent stake in Polycab India via open market transactions on November 30, while Blend Fund picked 0.8 percent shareholding in newly listed Fedbank Financial Services.

As per the NSE bulk deals data, Blackrock Global Funds-India Fund has bought 44.62 lakh equity shares in Tata Communications. These shares were purchased at an average price of Rs 1,707.69 per share, amounting to Rs 762 crore.

Further, BNP Paribas Arbitrage has net sold 59.87 lakh shares in the telecommunications company at an average price of Rs 1,704.1 per share, which amounted to Rs 1,020.36 crore.

Tata Communications’ share price ended at Rs 1,705.55 on the NSE, down 0.5 percent, with volumes of 1.76 crore shares.

Further, Blackrock Global Funds-India Fund also bought 17.49 lakh shares, equivalent to 1.16 percent of paid-up equity in Polycab India, the electrical equipment maker. These shares were purchased at an average price of Rs 5,266.22 per share, amounting to Rs 921.25 crore.

BNP Paribas Arbitrage also offloaded 19.53 lakh shares in Polycab at an average price of Rs 5,263.5 per share, valuing Rs 1,028.3 crore.

But the stock climbed over 2 percent to Rs 5,267.9 on the NSE, with volume of 68.18 lakh shares.

Meanwhile, Fedbank Financial Services, the newly listed entity, was also in focus as Blend Fund 2 has picked 30.06 lakh shares, equivalent to 0.8 percent of paid-up equity at Rs 143.86 per share on the listing day. The stock listing was muted and closed at Rs 140.25, up 0.18 percent.

The action was also seen in One 97 Communications, the Paytm operator. Copthall Mauritius Investment sold 46.5 lakh shares in the company at an average price of Rs 875.7 per share, amounting to Rs 407.25 crore, while BNP Paribas Arbitrage net sold 85.9 lakh shares at an average price of Rs 875.16 per share, which valued at Rs 751.77 crore.

Paytm shares settled at Rs 875.85 on the NSE, up 1 percent with volume of 3.05 crore shares.