Franklin Templeton Mutual Fund bought 42,96,380 shares, a 1.39% stake, in The India Cements Limited worth ₹176.21 Cr at ₹410.30 apiece.
A leading cement manufacturer headquartered in Chennai, India Cements produces cement as its core business while maintaining operations in complementary sectors including shipping, captive power generation, and coal mining. These vertical operations provide purposeful synergy to support the primary cement manufacturing activities. Established in 1946, the company also serves as a sponsor of the IPL cricket franchise Chennai Super Kings.
Indian arm of Franklin Templeton Investments, a global AMC with over USD 1.5 trillion in assets worldwide. Manages over Rs 1.2 lakh crore in India. Navigated a significant setback when six debt schemes were wound up in April 2020 due to illiquid credit exposure, with full investor capital recovered by 2022. Equity franchise led by CIO Anand Radhakrishnan has maintained consistent performance through the volatility.
