Market snapshot
| Indicator | Level | Change |
|---|---|---|
| Nifty 50 | 22,721.95 | +1.60% |
| Sensex | 73,033.78 | +1.54% |
| USD/INR | ₹95.28 | Rupee +0.5% |
| FII net | -₹1,305 cr | 13 Oct |
| DII net | +₹2,439 cr | 13 Oct |
| Nifty IT | 29,830 | +5.2% |
Equities and sectors
Nifty 50 closed at 22,721.95, up 1.60%, after opening flat at 22,364. The day’s high was 22,722 and the low was 22,288, compared with the previous close of 22,363.
Nifty climbed above 22,450 within the first 15 minutes and crossed 22,550 by 9:45 AM, met resistance near 22,570 around 10 AM, and held between 22,490 and 22,560 through late morning and early afternoon.
Market sentiment improved after 2 PM after the finance minister said LTCG and STT were open to discussion and review. Nifty passed 22,650 by 2:40 PM, crossed 22,700 in the final hour and closed nearly 350 points above its opening level.
Sensex closed at 73,033.78, up 1.54%, after trading between 73,045.67 and 71,703.56. The Nifty’s gain was its biggest single-day percentage rise since 3 August and the Sensex’s its strongest since 15 April, and the Nifty had fallen in eight of the previous nine weeks.
The Nifty is down about 13% in 2026, on track for its first annual decline in 11 years, as foreign investors sold $32 billion of Indian equities.
NSE index prices to 13 October 2026
| Index | Close | Today | 5 sessions | 20 sessions |
|---|---|---|---|---|
| Nifty 50 | 22,722 | +1.6% | -0.2% | -2.9% |
| Nifty Next 50 | 68,928 | +0.8% | -1.5% | -4.4% |
| Nifty Midcap 150 | 21,829 | +1.0% | -0.7% | -4.5% |
| Nifty Smallcap 250 | 17,833 | +0.3% | -0.4% | -2.8% |
| Nifty Microcap 250 | 25,800 | +0.2% | -1.7% | -3.2% |
| Nifty 500 | 22,090 | +1.2% | -0.5% | -3.4% |
IT rose 5.22%, leading gains across 14 of 15 sectors. Meanwhile, Pharma was the only sector lower (-0.01%). Media, IT and Pharma remain the strongest relative performers over 20 and 60 sessions.
Nifty sector indices on 13 October 2026
| Sector | Close | Change | Sector | Close | Change |
|---|---|---|---|---|---|
| IT | 29,830 | +5.2% | Nifty Bank | 55,481 | +1.0% |
| Realty | 829.95 | +2.5% | Private Bank | 27,324 | +0.7% |
| Consumer Durables | 36,496 | +1.6% | Oil & Gas | 10,350 | +0.5% |
| Financial Services | 25,229 | +1.5% | Media | 1,632 | +0.4% |
| PSU Bank | 8,147 | +1.4% | Chemicals | 28,359 | +0.1% |
| FMCG | 44,731 | +1.4% | Healthcare | 15,861 | +0.1% |
| Auto | 25,392 | +1.2% | Pharma | 26,075 | 0.0% |
| Metal | 12,088 | +1.1% |
The Nifty MidSmall IT & Telecom index climbed 2.8% and the Nifty Midcap 100 rose 1%.
Winners and losers
HCL Technologies shares rose 8.4% after some brokerages raised earnings estimates following its September-quarter results.
Shriram Finance rose 6%, its biggest gain in four months, after a report that MUFG is studying ways to gain majority control of the company.
Jubilant Pharmova fell 2.32% to ₹928.80, a day after Quant Mutual Fund sold a 0.69% stake for ₹100.65 crore in a block deal.
Commodities and currency
By 19:30 IST, MCX aluminium was down 2.0%, gold 0.5% to ₹1,48,798, silver 1.1% to ₹2,20,513 and crude oil 1.2% to ₹8,824. Meanwhile, natural gas rose 1.9% to ₹307.80.
Crude oil fell below $92 per barrel, ending a three-session rally, as the US temporarily eased restrictions on Russian diesel exports for six months.
MCX futures to 19:30 IST, 13 October 2026
| MCX contract | Price (₹) | Today to 19:30 | 5 sessions | 20 sessions |
|---|---|---|---|---|
| Crude oil | 8,824 | -1.2% | +3.1% | -1.0% |
| Natural gas | 307.80 | +1.9% | +2.2% | +4.8% |
| Gold | 1,48,798 | -0.5% | -0.9% | -2.5% |
| Silver | 2,20,513 | -1.1% | -3.0% | -5.2% |
| Copper | 1,419 | -0.4% | +0.4% | +3.6% |
| Aluminium | 325.00 | -2.0% | -4.8% | -6.4% |
| Zinc | 416.60 | -0.9% | -0.2% | +2.9% |
| Lead | 194.10 | 0.0% | +0.3% | -0.8% |
OPEC+ crude production rose by around 900,000 barrels per day to 39.07 million bpd in September, driven largely by higher Saudi Arabian output.
The rupee gained 0.5%, extending its 1% rise on Monday that followed RBI measures to reduce speculative pressure. The dollar was at ₹95.28, the euro at ₹106.51 and the pound at ₹126.13.
Borrowing costs for the most liquid part of India’s state government bond curve rose above 8% for the first time in over six years, tracking a sharp spike in central government yields, traders said.
Institutional flows
On 13 October, FIIs net sold ₹1,305 crore (NSE provisional) while DIIs net bought ₹2,439 crore.
NSDL (foreign investors) and BSE/NSE (domestic institutions) via India Data Hub
| Session | FII net (₹ cr) | DII net (₹ cr) |
|---|---|---|
| 5 Oct | -9,635 | +5,182 |
| 6 Oct | -4,281 | +5,089 |
| 7 Oct | -2,490 | +4,597 |
| 8 Oct | -6,206 | +10,703 |
| 9 Oct | -12,943 | +4,743 |
| 12 Oct | -3,252 | +3,045 |
| 13 Oct | -1,305 | +2,439 |
Put writing lifted the put-call ratio from 0.73 to 1.27 and implied volatility fell from 14.6% to 12.6%. FIIs hold 9.8% of index-futures positions long against 83% for retail and HNIs, and six of the 12 largest stock-futures open-interest moves were long buildups.
Options imply a 22,516 to 23,102 range into the 19 October expiry, with the heaviest put open interest at 22,500 and call open interest at 23,000.
Mint, 14 October 2026
In 2025, FPIs recorded net equity outflows of $18.9 billion while DII inflows reached a record $90.1 billion. In 2026 to September, FPIs net sold $27.8 billion while DIIs invested $64.6 billion.
Mint, 14 October 2026
Financial services made up 30.2% of FPI equity assets under custody at end-September. From April to September the sector saw net FPI outflows of ₹53,973 crore, oil and gas ₹37,828 crore and autos ₹26,049 crore. Meanwhile, healthcare drew net inflows of ₹5,994 crore.
SIP contributions hit a record ₹32,490 crore in September, but year-on-year growth slowed to 10.7% from 52.8% in September 2024. Active SIP folios fell to 35.2% of total folios from 47%. Meanwhile, industry AUM rose to ₹82.64 trillion from ₹67.09 trillion.
The macro view
Growth forecasts
The IMF raised its forecast for India’s FY27 GDP growth to 7% from 6.4% estimated in July, and its FY28 forecast to 7% from 6.7%, in its World Economic Outlook released in Bangkok.
Mint, 14 October 2026
Earlier this month the RBI raised its FY27 real GDP growth forecast to 7.1% from 6.7%. The World Bank raised its forecast by 50 basis points to 7.1% and the OECD by 80 basis points to 7.1%.
Capital gains tax and the rupee
Finance minister Nirmala Sitharaman said Indian and foreign investors had raised questions about the LTCG tax, STT and whether asset classes should be taxed similarly, but declined to indicate whether changes would be considered as preparations for the FY28 budget are underway.
The July 2024 Union budget raised the LTCG rate on listed equity shares and equity-oriented mutual funds held for more than a year to 12.5% from 10%.
Sitharaman said the rupee had weakened significantly over the past one-and-a-half to two years and that the RBI was seeking to curb volatility rather than defend a particular exchange rate.
UPI merchant fee deferred
NPCI deferred the merchant discount rate on select UPI person-to-merchant transactions until after Diwali. The fee was scheduled for 15 October and a revised date will be announced later.
NPCI pointed to a decision by its UPI and Services Steering Committee in view of the festive season. Diwali falls on 8 November.
The PFRDA has asked the Department of Financial Services to treat NPS contributions made through UPI via D-Remit as person-to-person transfers outside the MDR framework. NPS has 23.4 million subscribers and ₹17.36 trillion in assets.
In a survey of 1,054 merchants by Pahlé India Foundation and Amazon Pay, 25% expected to pay more than ₹5,000 a month in MDR. Meanwhile, 58% expected to pay ₹1,000 or less, including 13% who expected no charge.
US tariff exposure
India faces tariffs of up to 100% after the Lindsey O. Graham Sanctioning Russia and Iran Act, signed into law on 18 September, which authorises such tariffs on the top five importers of Russian oil or gas by volume.
Russia accounted for 35% of India’s crude oil imports in September, down from 56% in July. India imported 1.74 million barrels a day of Russian crude in September. The US accounts for 20% of India’s exports.
Investment, markets and regulation
- The government’s ₹1 trillion Research, Development and Innovation Fund selected 19 second-level fund managers in its first cohort, 14 AIFs and five focused research organisations, with total commitments of ₹7,131 crore.
- NIIF plans a $600 million e-mobility platform, Avega, and has made the first close of its second infrastructure fund at ₹20,000 crore ($2 billion) against a $3.2 billion target, chief executive Sanjiv Aggarwal said.
- SEBI extended until 31 March 2027 its relaxation allowing companies to revise IPO fresh-issue sizes by up to 50% without filing new draft offer documents.
- SEBI notified the Portfolio Managers Regulations, 2026, effective 1 April 2027, allowing portfolio managers to invest in IPOs, primary debt issues and a wider range of overseas securities, and proposed direct reporting by monitoring agencies on the use of issue proceeds.
- The FSSAI is preparing rules requiring quick-commerce listings to display manufacturing and expiry dates and batch numbers, and to hold platforms accountable for misleading claims, chief executive Rajit Punhani said.
- Indian Railways’ freight loading rose 6.14% year-on-year to 135.35 million tonnes in September. Freight revenue in the first half of the fiscal year grew 3.7%.
Corporate action and earnings
Domestic headlines
Tata Elxsi
Tata Elxsi reported a 10% year-on-year rise in Q2 FY27 net profit to ₹170 crore. Meanwhile, revenue grew 15% to ₹1,056 crore.
ICICI Life Insurance
ICICI Life Insurance reported a 25% year-on-year rise in Q2 FY27 net profit to ₹374 crore. Net premium earned grew 16.5% to ₹13,804 crore.
Sun Pharma
Sun Pharma’s board approved a proposal to raise up to ₹10,000 crore through non-convertible debentures.
Deals and fundraising
- Hyundai Motor Group has committed to invest $15.5 billion in India between 2026 and 2032 across Hyundai Motor India and Kia, covering manufacturing capacity, R&D, supplier development and startup investments.
- MUFG is studying ways to raise its stake in Shriram Finance to more than 50% from about 20%, and may need to inject more than $10 billion to gain control, on top of the $4.4 billion it has already invested, people familiar with the matter said.
- Blackstone is in talks to invest $400-500 million in Bengaluru-based defence and avionics firm Accord Software Systems for a 17-20% stake, three people said.
- Jio Platforms has drawn more than $20 billion in bids for its IPO and is aiming for a valuation of up to $108 billion. The share sale is expected to open next week, people familiar with the matter said.
- IndiGo: Citigroup and Belgian export credit agency Credendo completed a $328 million financing for six Airbus A321 and two A320 aircraft, the first ECA-led aircraft financing through GIFT City’s IFSC leasing structure, Citi said.
- Adani Enterprises and Jabil signed a non-binding agreement for a 50:50 joint venture to manufacture AI and data centre equipment in India.
- Fundamentum Frontier Advisors raised the domestic allocation of its maiden deeptech fund by ₹500 crore to ₹2,500 crore, targeting ₹3,500 crore in total. GreenCell Mobility secured ₹330 crore from Impact Fund Denmark.
- Barclays is preparing to restart its investment banking business in India after nearly a decade. Investment banks earned a record $417 million in IPO fees in India last year, according to LSEG data.
- Indian fintech companies raised $2.2 billion in January-September 2026, up 14% year-on-year. Meanwhile, funding rounds fell 41% to 153, according to Tracxn.
Operations and strategy
- Adani Airport has deferred by at least five months its plan to shift a third of international flights from Mumbai’s existing airport to Navi Mumbai, after airlines resisted changes to 265 of 770 weekly international departure slots.
- Zoho co-founder Sridhar Vembu said the company will not give salary hikes this year. Zoho reported ₹12,313 crore in operating revenue and ₹3,191 crore in net profit in FY25.
- Radisson Hotel Group targets 500 properties in India by 2030. It operates 146 hotels with about 16,000 rooms and has 86 hotels with 10,488 rooms in its pipeline.
- Ather Energy, Ceat and Lumax AutoTechnologies are setting up sourcing teams or a presence in China. China’s share of India’s auto component imports rose to 36% in FY26 from 32%, per ACMA.
- Blue Dart announced a 9-12% price increase across its domestic portfolio from 1 January 2027.
Disputes and governance
- SpiceJet: The Delhi High Court dismissed the airline’s plea for more time to deposit ₹144.51 crore in its dispute with Kalanithi Maran and KAL Airways.
- NMC Healthcare founder B.R. Shetty has approached the Bombay High Court seeking $15 billion in damages from Bank of Baroda and others. The allegations have not been established in court.
Mark to market
HCL Technologies
HCL Technologies: Sequential constant-currency revenue growth of 2.3% fell short of the 2.7% consensus estimate. The company raised its FY27 services revenue guidance to 3-4% from 1.5-4.5% and overall revenue guidance to 2.5-4% from 1-4%, including an estimated 87 bps from acquisitions.
HCL’s software revenue fell 5.8% sequentially in constant currency while services grew 3%. The $1.14 billion Mercedes-Benz deal won in July could start contributing only in Q1 FY28. The stock trades at 17 times FY28 estimated earnings.
ICICI Prudential AMC
ICICI Prudential AMC: Q2 FY27 operating revenue rose 16.3% to ₹1,674 crore and net profit 6.1% to ₹889 crore. Quarterly average AUM rose 13.7% to ₹12.4 trillion.
Stockbrokers
Stockbrokers: Average daily premium turnover in NSE index options fell 27% quarter-on-quarter in the September quarter and cash-market turnover fell 19%, exchange data showed.
Primary market and fundraising
- MahaTransco is likely to have picked Axis Capital to lead a planned IPO of around ₹10,000 crore, scheduled by June 2027, two people said.
- Urban Company’s board will consider raising funds through equity or convertible securities at a meeting on 16 October.
Upcoming events
| Date | Event | Type |
|---|---|---|
| Wed, 14 Oct | F&O ban: Ambuja Cements, Kaynes (Bandhan Bank and LIC Housing Finance leaving the ban) | Surveillance |
| Wed, 14 Oct | Results: BHEL; options price a move of about ±6.8% by the 27 October expiry | Earnings |
| Wed, 14 Oct | Results: Canara Bank (±5.2%) and ICICI Lombard General (±5.3%) | Earnings |
| Wed, 14 Oct | Ex-date: TCS, interim dividend of ₹12 a share; Vedanta, interim dividend of ₹5 a share | Corporate |
| Wed, 14 Oct | India PPI and WPI inflation (previous: 9.92% year on year) | Macro |
| Wed, 14 Oct | BlackRock Q3 2026 results, before the NYSE opens | Global |
| Fri, 16 Oct | Urban Company board meeting on fundraising | Corporate |
| Mon, 19 Oct | Nifty options expiry; options imply a 22,516 to 23,102 range | Derivatives |
| Next week | Jio Platforms IPO expected to open | IPO |
| Tue, 3 Nov | US midterm elections | Global |
| After Diwali | UPI MDR on select merchant payments, date to be notified by NPCI; Diwali is on 8 November | Policy |
Events calendar to 13 October 2026
Global pulse
Global indices
Five of eight global markets rose in their latest completed session, with the Dow 30 and FTSE 100 up 0.8% each and Japan’s Nikkei 225 down 2.0%.
Zerodha AfterMarket Report
| Index | Level | Latest session | 5 sessions | 20 sessions |
|---|---|---|---|---|
| Dow 30 | 51,872 | +0.8% | +1.1% | -1.0% |
| FTSE 100 | 10,644 | +0.8% | +1.3% | -0.2% |
| DAX 40 | 25,249 | +0.5% | -0.1% | -1.1% |
| Hang Seng | 24,331 | +0.3% | +0.3% | -2.5% |
| S&P 500 | 7,829 | +0.3% | +0.4% | +2.2% |
| Shanghai Composite | 3,795 | 0.0% | -1.2% | -4.0% |
| Nasdaq 100 | 30,882 | -0.7% | -1.5% | +4.8% |
| Nikkei 225 | 67,667 | -2.0% | -3.1% | +4.0% |
Snapshot 19:30 IST, 13 October (Asia to 13 Oct; Europe and US to 12 Oct)
Zerodha AfterMarket Report
South Korea’s Kospi fell 7.4% to its lowest level since July. Samsung Electronics fell 7.7% and SK Hynix 8.8% because of concerns that advances by Chinese chipmaker CXMT could intensify competition in memory chips.
Global macro
- The IMF raised its 2026 global growth forecast to 3.1% from 3%, with growth expected to accelerate to 3.4% in 2027. High energy prices remain a key risk.
- The dollar index fell 0.3% to 102.26, retreating from an 18-month high of 102.61, as oil prices eased and investors reassessed geopolitical risks ahead of the US midterm elections.
- Former UK prime minister Rishi Sunak said at the Bloomberg New Economy Forum in New Delhi that the US-led global order “is over” and that President Trump is “not a cause of that, he’s a symptom”.
- Investment in the space economy is on track to exceed $100 billion in a year for the first time in 2026, according to Space Capital. Stoke Space raised $1 billion and Blue Origin $10 billion.
Geopolitics and energy
- Saudi Arabia intercepted more ballistic missiles launched by Yemen’s Houthis at Riyadh and Khamis Mushait. The earlier strikes on Riyadh’s main airport left at least 18 people dead and over 300 wounded.
- At least three commercial vessels were hit over the weekend in and around the Strait of Hormuz, according to UK Maritime Trade Operations, and a drone attack on the Emirati tanker Petro Dolphin near Oman left two Indian sailors missing.
- The EU and China reached a deal under which the EU will impose an annual quota of 350,000 Chinese hybrid vehicles in the first year, rising by 6% in each of the following three years. Chinese carmakers took 11.3% of European sales in the year through August, up from 7.1%.
Global business and tech
- Meta released Muse Wonder, an AI model it says is comparable with OpenAI’s and Anthropic’s. Its shares rose as high as 4.7% on the announcement.
- Nvidia shipped 678,000 AI accelerators in China in the first half of 2026, down 44% year-on-year amid US export controls and rising domestic competition.
- Bumble is in talks to be taken private by Ithaca Holdings in a deal valuing it at roughly $1 billion, against a market value of around $335 million as of Friday’s close.
Management chatter
Verbatim quotes from named individuals, as reported by Mint and the Zerodha AfterMarket Report.
“LTCG, a lot of people are commenting on it, both Indian and foreign investors. This debate on STT in the market and the question of treating all asset classes similarly, there is a lot of debate. It is healthy to have this debate.”
“India remains one of Hyundai Motor Group’s most important and strategic markets globally. The past 30 years have been defined by our commitment to India. This investment reaffirms our commitment to India for the next 30 years and beyond.”
“We have cut down on our marketing budget. We have also told our employees that we cannot have our usual pay increase this year. I have apologized for not being able to avoid this. We will work hard to avoid mass layoffs but the outlook for software jobs in general is grim.”
“At the large-cap index level, the chances of weak returns over a prolonged period are quite high.”
“That’s one important product missing in our otherwise very strong wholesale banking offering.”
“Over time, convenience and competition will help MDR settle at a level acceptable to the ecosystem, despite the current resistance.”
“We are re-calibrating a little bit. We were pioneers in getting into tier two and three cities back when nobody else was. But when we look at the bigger picture now, we feel we can do more in hotels in tier one cities.”
BlackRock at $15.3 Trillion: How the World’s Largest Asset Manager Earns Its Fees
BlackRock managed $15.34 trillion at 30 June 2026 and reported $7,084 million of revenue in the quarter. Most of that revenue is fees on assets it manages, led by iShares ETFs, alongside a technology business built around Aladdin and a private markets platform assembled through three acquisitions since 2024. In India it operates through Jio BlackRock, a 50:50 joint venture with Jio Financial Services.
BlackRock was founded in 1988 “with eight people in a single room”, went public in October 1999 and is led by chairman and chief executive Larry Fink. It had approximately 24,900 employees at the end of 2025. Assets under management stood at $15.34 trillion at 30 June 2026, up from $14.04 trillion at 31 December 2025. Net inflows were $191.7 billion in the second quarter and $321 billion in the first half of 2026, after a record $698 billion for full-year 2025. BlackRock is scheduled to report third-quarter 2026 results today, before the NYSE opens.
Where the $15.3 trillion sits
BlackRock Q2 2026 earnings release
| Product type | AUM, 30 Jun 2026 ($ mn) | Q2 2026 net flows ($ mn) |
|---|---|---|
| Equity | 8,888,234 | +71,597 |
| Fixed income | 3,390,161 | +92,096 |
| Multi-asset | 1,347,299 | +16,784 |
| Alternatives (incl. private markets) | 449,395 | +22,027 |
| Currency and commodities | 151,849 | -254 |
| Digital assets | 48,839 | -3,116 |
| Cash management | 1,068,847 | -7,434 |
| Total | 15,344,624 | +191,700 |
By client type at 30 June 2026: ETFs $6.25 trillion, institutional $6.63 trillion (index $3.95 trillion, active $2.69 trillion), retail $1.40 trillion and cash management $1.07 trillion.
“iShares crossed $6 trillion in AUM, roughly doubling in three years.”
How the money comes in
Second-quarter 2026 revenue was $7,084 million, up 31% from $5,423 million a year earlier. Operating income was $2,461 million on a GAAP basis and $2,916 million as adjusted. The as-adjusted operating margin was 45.9%, against 43.3% a year earlier. Diluted earnings per share were $12.19, or $13.91 as adjusted, and organic base fee growth was 8%. For full-year 2025, revenue was $24,216 million.
BlackRock Q2 2026 earnings release
| Revenue line ($ mn) | Q2 2026 | Q2 2025 |
|---|---|---|
| Investment advisory and administration fees | 5,487 | 4,283 |
| Technology services and subscription | 566 | 499 |
| Distribution fees | 395 | 320 |
| Investment advisory performance fees | 305 | 94 |
| Securities lending | 239 | 171 |
| Advisory and other | 92 | 56 |
| Total revenue | 7,084 | 5,423 |
BlackRock’s 2025 annual report breaks down base fees and securities lending revenue by client, product and region.
| By client type | Share | By product | Share | By region | Share |
|---|---|---|---|---|---|
| ETFs | 45% | Equity | 50% | Americas | 67% |
| Retail | 25% | Fixed income | 22% | EMEA | 28% |
| Institutional active | 24% | Alternatives | 17% | Asia-Pacific | 5% |
| Institutional index | 6% | Multi-asset | 8% |
Net flows by product
BlackRock Q2 2026 earnings release
Fixed income drew the largest net inflows in the second quarter at $92,096 million, ahead of equity at $71,597 million and alternatives at $22,027 million, while digital assets and cash management saw net outflows.
Aladdin and technology
BlackRock’s 10-K describes Aladdin Enterprise as “an end-to-end, investment and risk management solution” and says it made up the majority of technology services and subscription revenue in 2025. That line brought in $1,981 million in 2025 and $566 million in the second quarter of 2026, up from $499 million a year earlier. Its annual contract value grew 15% year-on-year. BlackRock does not publish a separate revenue figure for Aladdin alone.
The private markets build-out
Private markets AUM was $329,083 million at 30 June 2026, with net inflows of $15,432 million in the second quarter. Reuters reported that BlackRock has spent about $28 billion on Global Infrastructure Partners, HPS and Preqin, and targets $400 billion of gross private markets fundraising for 2025 to 2030.
| Date | Deal | Detail |
|---|---|---|
| 12 Jun 2009 | Barclays Global Investors, including iShares | Agreed for US$13.5 billion: 37.8 million BlackRock shares and equivalents plus US$6.6 billion cash |
| Jan 2024 | Global Infrastructure Partners | Reported at $12.5 billion; completed 1 October 2024, when GIP had about $170 billion of AUM |
| 1 Jul 2024 | Preqin (private markets data) | Agreed for £2.55 billion (about US$3.2 billion) in cash; completion announced March 2025 |
| 3 Dec 2024 | HPS Investment Partners (private credit) | About $12 billion, paid 100% in BlackRock equity; HPS AUM about $148 billion; completed 1 July 2025 |
“Infrastructure represents a generational investment opportunity.”
BlackRock in India
BlackRock and Jio Financial Services announced Jio BlackRock on 26 July 2023 as a 50:50 joint venture, each targeting an initial investment of US$150 million. SEBI registered Jio BlackRock Mutual Fund on 27 May 2025 and registered the venture’s investment adviser arm in June 2025. A broking unit was announced in January 2025, subject to approvals. The fund house’s first three debt NFOs, from 30 June to 2 July 2025, raised over ₹17,800 crore from more than 90 institutional investors and over 67,000 individual investors. By January 2026 it had passed one million customer accounts.
“India represents an enormously important opportunity.”
Stewardship
BlackRock Investment Stewardship voted at 2,375 shareholder meetings of 2,259 companies on 19,131 proposals between 1 January and 31 March 2026, and did not support management’s recommendation on 11% of proposals.
Closing
DayStarter by Devraj compiles reported facts from the Zerodha AfterMarket Report, Mint and the public sources named above. It is for information only and is not investment advice.