Jindal Stainless Limited
LIC lowered its stake in Jindal Stainless from 1.77% to 1.59% by reducing its holding from 1.46 crore shares to 1.31 crore shares, which took place in the context of a rights issue.
One of India's largest stainless steel manufacturers, Jindal Stainless produces flat products across Austenitic, Ferritic, Martensitic, and Duplex grades for diverse end-use industries. The company serves automotive, railways, construction, and consumer goods sectors with vertically integrated operations spanning the complete value chain. Its distinctive capabilities encompass raw material sourcing, production, and finished product delivery.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.