Astral Limited
Nippon India Mutual Fund decreased its stake in Astral Limited from 1.43% to 1.11%, reducing its shareholding from 3,849,704 to 2,993,289 shares. The value of shares sold is ₹131.79 crore, calculated at a share price of ₹1532.80.
A manufacturer of plumbing and drainage systems established in 1996, this company produces piping solutions and fittings designed for Indian residential and commercial infrastructure needs. Beyond its core plumbing business, it has expanded into adhesive products, serving multiple sectors across the country with engineered polymer-based solutions for water management and construction applications.
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.