REC Limited
Nippon India Mutual Fund increased its stake in REC Limited from 1.28% to 1.86%, raising its shareholding from 33,817,244 to 48,975,476 shares.
A Central Public Sector Undertaking under India's Ministry of Power, REC Limited finances projects across the entire power sector value chain, including generation, transmission, and distribution infrastructure. The company provides financial support to state electricity boards, private developers, and renewable energy enterprises nationwide. REC operates as a dedicated infrastructure finance institution supporting India's power sector development and energy transition goals through long-term project financing.
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.