Jindal Steel Limited
SBI Mutual Fund decreased its stake in Jindal Steel Limited from 1.60% to 1.35%, reducing its holding by 25,86,738 shares in a rights issue context.
One of India's leading steel producers, Jindal Steel manufactures a comprehensive range of steel products serving construction, automotive, infrastructure, and industrial sectors. The company operates integrated steel facilities and maintains significant presence in mining operations across India. Through international subsidiaries, it has expanded operations to multiple countries in Africa and the Asia-Pacific region, establishing a global footprint.
India's largest AMC by total AUM, managing over Rs 11 lakh crore across equity, debt and hybrid schemes. Backed by State Bank of India, the country's largest bank, which gives it unmatched retail reach across every Indian state. With over 70 schemes and 50 million folios, SBI MF's positioning moves are tracked as a proxy for domestic institutional flows.