ICICI Prudential Mutual Fund increased its stake in Carborundum Universal Limited from 1.88% to 2.21%, buying 621,673 shares.
A leading manufacturer of abrasives, ceramics, refractories, and electro-minerals, Carborundum Universal serves diverse industrial sectors including automotive, metalworking, construction, and heavy industries. Part of the Chennai-based Murugappa Group, the company operates integrated production facilities and offers specialized materials for grinding, cutting, finishing, and thermal applications. Its products address critical manufacturing and industrial processes, serving customers across domestic and international markets through established distribution networks and technical support.
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.
