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BlackRock Acquires Stake in Titagarh Rail Systems

28 Jun, 2024

BlackRock Inc., the world's largest asset manager, has acquired a 1.6% stake in Titagarh Rail Systems, an Indian railway stock, via block deals. BlackRock Global Funds bought 21.73 lakh shares at an average price of ₹1,618 per share, totaling ₹351.62 crore. This marks BlackRock's first investment in Titagarh Rail or any Indian railway stock. The shares were sold by Rashmi Chowdhary, a promoter group member. Additionally, Chowdhary sold another 5.2 lakh shares to BNP Paribas Financial Markets for ₹84.18 crore. Titagarh Rail shares have surged 256% over the past year.

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