ICICI Prudential Mutual Fund increased its stake in Jindal Stainless Limited from 1.14% to 1.20% in a rights issue, acquiring 445,991 shares.
One of India's largest stainless steel manufacturers, Jindal Stainless produces flat products across Austenitic, Ferritic, Martensitic, and Duplex grades for diverse end-use industries. The company serves automotive, railways, construction, and consumer goods sectors with vertically integrated operations spanning the complete value chain. Its distinctive capabilities encompass raw material sourcing, production, and finished product delivery.
India's second-largest AMC by AUM with over Rs 9 lakh crore managed across 80+ schemes. Joint venture between ICICI Bank and Prudential plc. CIO S. Naren is one of India's most recognised value investors, known for contrarian macro calls and rotating across market caps well ahead of consensus. ICICI Pru's quarterly portfolio disclosures are among the most closely watched in the industry.
