UTI Midcap Fund buys Grindwell Norton Limited for 24.77 crore

uti-mutual-funds-logoUTI Mutual Fund’s Midcap Fund buys 3,32,519 shares of Grindwell Norton Limited for price of 745.00 each with overall valuation of 24,77,26,655 rupees in a bulk deal in National Stock Exchange. Out of that 3,32,519 shares, Meheru Soarab Mehta have sold 3,00,000 shares. As per the share holding pattern as of Sep 30, 2015, he had 6,43,040 shares in Grindwell Norton Limited.

Today Grindwell went up by 1.95% to close at 750.00 with volume of 7,13,543 shares.

Grindwell Norton Limited (GNO) manufactures abrasives and ceramics. The Company’s segments include Abrasives, and Ceramics & Plastics. Its Abrasives segment offers bonded abrasives, such as thin wheels, coated abrasives, such as non-woven, and super abrasives. The Company’s Ceramics & Plastics segment offers silicon carbide, refractories and performance plastics. GNO manufactures mostly silicon carbide refractories and high alumina monolithics.