Afcons Infrastructure Limited
Nippon India Mutual Fund cut its stake in Afcons Infrastructure from 3.12% to 2.58%, selling 19,65,434 shares.
An infrastructure engineering and construction company, Afcons Infrastructure operates across civil construction, marine works, and industrial projects throughout India and internationally. Incorporated in 1959, the company specializes in building complex infrastructure including bridges, tunnels, ports, water management systems, and offshore structures. Its distinctive strength lies in executing large-scale, technically challenging projects that require specialized engineering expertise and integrated project management capabilities.
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.