State Bank of India
Nippon India Mutual Fund increased its stake in State Bank of India from 1.23% to 1.32%, buying 83,23,382 shares. The additional shares are worth ₹865.2 Cr at ₹1039.50 apiece.
India's largest public sector bank, headquartered in Mumbai, provides comprehensive banking and financial services across retail, corporate, and institutional segments. With a history spanning over two centuries, it operates an extensive network of branches and digital platforms serving customers nationwide. The bank offers deposit products, lending solutions, investment services, and insurance offerings. As a government-backed statutory body, it combines regulatory oversight with commercial banking operations, serving as a cornerstone of India's financial system and economy.
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.