RITES Limited
Nippon India Mutual Fund increased its stake in RITES Limited from 1.96% to 1.97%, acquiring 18,441 shares.
A public sector enterprise providing transport consultancy and engineering services across India, RITES Limited specializes in railway infrastructure development and rolling stock solutions. Established in 1974, the company serves as India Railways' primary export arm for rolling stock, operating internationally except in select Southeast Asian markets. Its diversified service portfolio, technical expertise, and extensive geographical presence distinguish it as a leading player in the transport engineering sector.
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.