US asset manager BlackRock raises stake in Infosys days after Donald Trump's win
As per the disclosure, BlackRock made the purchases on behalf of ‘discretionary management clients’ in an off-market deal, the company said.
By Amit Mudgill, ETMarkets.com |
BCCL
NEW DELHI: The BlackRock group, the largest asset manager in the US, raised its holding in IT major Infosys by buying some 25,14,872 American depository receipts (ADRs) on November 16, just days after Republican Donald Trump was elected the US President.
A regulatory filing, the Vishal Sikka-led Infosys said, BlackRock raised its holding in the company by about 0.11 percentage points to 5 per cent.
As per the disclosure, BlackRock made the purchases on behalf of ‘discretionary management clients’ in an off-market deal, the company said.
At Friday’s closing price, the shares bought amounted to Rs 243 crore, while the value of the 5 per cent stake held by the firm stood at Rs 11,095 crore. Among public, only LIC (6.46 per cent) has a bigger stake in the technology giant than BlackRock.
Infosys shares closed at Rs 965, down 1.22 per cent, in Friday's trade.
A regulatory filing, the Vishal Sikka-led Infosys said, BlackRock raised its holding in the company by about 0.11 percentage points to 5 per cent.
As per the disclosure, BlackRock made the purchases on behalf of ‘discretionary management clients’ in an off-market deal, the company said.
At Friday’s closing price, the shares bought amounted to Rs 243 crore, while the value of the 5 per cent stake held by the firm stood at Rs 11,095 crore. Among public, only LIC (6.46 per cent) has a bigger stake in the technology giant than BlackRock.
Infosys shares closed at Rs 965, down 1.22 per cent, in Friday's trade.
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