CIE Automotive India Limited
Nippon India Mutual Fund decreased its stake in CIE Automotive India Limited from 2.18% to 1.37%, selling 3,096,157 shares. The shares were valued at approximately ₹123.63 crore based on the closing price of ₹399.35 per share.
A manufacturer of automotive components serving original equipment manufacturers and customers across India and overseas markets. The company produces a comprehensive range of automotive parts including chassis, transmission, and engine components for leading vehicle manufacturers globally. Operating as a subsidiary of CIE Automotive S.A, a Spain-based automotive components group, it specializes in delivering quality components to both domestic and international automotive customers.
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.