Grindwell Norton Limited
Nippon India Mutual Fund increased its stake in Grindwell Norton Limited from 1.20% to 1.64%, buying 484,259 shares worth ₹98.48 Cr.
A diversified manufacturer, Grindwell Norton produces abrasives, ceramics, and plastics for industrial applications across India and international markets. The company supplies grinding wheels, bonded abrasives, and ceramic products to manufacturing, construction, and automotive sectors. Beyond manufacturing, it provides IT services, establishing itself as a vertically integrated player spanning production, materials science, and technology domains.
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.