Kennametal India Limited
Nippon India Mutual Fund trimmed its stake in Kennametal India Limited from 8.88% to 8.27%, selling 1,34,303 shares.
A manufacturer of carbide tools and special-purpose machines serving the automotive, defense, railways, infrastructure, and general engineering sectors across India. Incorporated in 1938, the company operates as a 75% subsidiary of Kennametal Inc, a global industrial products leader. Its state-of-the-art manufacturing facility in Bengaluru produces precision cutting tools and specialized equipment designed for diverse and demanding industrial applications.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.