Tata Infrastructure Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Portfolio Turnover Ratio : 10.94%. Category average turnover ratio is 167.64%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 95.71% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 95.71%

No of Stocks : 62 (Category Avg - 44.43) | Large Cap Investments : 27.11%| Mid Cap Investments : 26.23% | Small Cap Investments : 15.66% | Other : 26.71%

Portfolio Summary (as on 30th Nov,2025)

Particulars	This Scheme	Category
No. of Stocks	62	43.31
Top 5 Stock Weight	20.36%	32.32%
Top 10 Stock Weight	32.11%	49.31%
Top 3 Sector Weight	33.69%	43.27%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	34569.31	72871.69
Holdings in large cap stocks	27.11%	37.3%
Holdings in mid cap stocks	26.23%	14.28%
Holdings in small cap stocks	15.66%	12.55%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity
Larsen & Toubro Ltd.	Civil construction	1423.9	6.88%	0.28%	6.88% (Nov 2025)	5.42% (Dec 2024)	3.50 L
- National Thermal Power Corporation Ltd.	Power generation	759	3.67%	0.00%	4.09% (Mar 2025)	3.33% (Dec 2024)	23.25 L
The Ramco Cements Ltd.	Cement & cement products	722.1	3.49%	0.09%	3.68% (Jul 2025)	2.88% (Dec 2024)	6.96 L
Adani Ports And Special Economic Zone Ltd.	Port & port services	697.8	3.37%	0.24%	3.37% (Nov 2025)	2.36% (Jan 2025)	4.60 L
Cummins India Ltd.	Compressors, pumps & diesel engines	609.9	2.95%	0.18%	2.95% (Nov 2025)	1.85% (Jan 2025)	1.36 L
- Ultratech Cement Ltd.	Cement & cement products	548.7	2.65%	0.00%	2.8% (Aug 2025)	2.32% (Dec 2024)	47.30 k
Adani Energy Solutions Ltd.	Power - transmission	519.3	2.51%	0.10%	2.51% (Nov 2025)	1.81% (Dec 2024)	5.22 L
DLF Ltd.	Residential, commercial projects	463.1	2.24%	-0.03%	2.34% (Jun 2025)	2.1% (Apr 2025)	6.40 L
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	458.1	2.21%	0.25%	2.21% (Nov 2025)	1.51% (Feb 2025)	15.75 L
Adani Power Ltd.	Power generation	442.5	2.14%	-0.08%	2.22% (Oct 2025)	1.36% (Dec 2024)	30.00 L

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 30th Nov,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Larsen & Toubro Ltd.	Civil construction	14.31	1423.9	6.88%	0.28%	6.88% (Nov 2025)	5.42% (Dec 2024)	3.50 L	0.00	Large Cap	27.11
- National Thermal Power Corporation Ltd.	Power generation	7.01	759	3.67%	0.00%	4.09% (Mar 2025)	3.33% (Dec 2024)	23.25 L	0.00	Large Cap	27.11
The Ramco Cements Ltd.	Cement & cement products	11.49	722.1	3.49%	0.09%	3.68% (Jul 2025)	2.88% (Dec 2024)	6.96 L	0.00	Mid Cap	26.23
Adani Ports And Special Economic Zone Ltd.	Port & port services	4.86	697.8	3.37%	0.24%	3.37% (Nov 2025)	2.36% (Jan 2025)	4.60 L	0.00	Large Cap	27.11
Cummins India Ltd.	Compressors, pumps & diesel engines	4.54	609.9	2.95%	0.18%	2.95% (Nov 2025)	1.85% (Jan 2025)	1.36 L	0.00	Mid Cap	26.23
- Ultratech Cement Ltd.	Cement & cement products	11.49	548.7	2.65%	0.00%	2.8% (Aug 2025)	2.32% (Dec 2024)	47.30 k	0.00	Large Cap	27.11
Adani Energy Solutions Ltd.	Power - transmission	4.2	519.3	2.51%	0.10%	2.51% (Nov 2025)	1.81% (Dec 2024)	5.22 L	0.00	Mid Cap	26.23
DLF Ltd.	Residential, commercial projects	6.05	463.1	2.24%	-0.03%	2.34% (Jun 2025)	2.1% (Apr 2025)	6.40 L	0.00	Large Cap	27.11
Bharat Heavy Electricals Ltd.	Heavy electrical equipment	7.89	458.1	2.21%	0.25%	2.21% (Nov 2025)	1.51% (Feb 2025)	15.75 L	0.00	Mid Cap	26.23
Adani Power Ltd.	Power generation	7.01	442.5	2.14%	-0.08%	2.22% (Oct 2025)	1.36% (Dec 2024)	30.00 L	0.00	Other	26.71
Torrent Power Ltd.	Integrated power utilities	3.49	420.6	2.03%	0.06%	2.4% (Apr 2025)	1.82% (Sep 2025)	3.20 L	0.00	Mid Cap	26.23
- Ambuja Cements Ltd.	Cement & cement products	11.49	412.7	1.99%	0.00%	2% (Jul 2025)	1.72% (Dec 2024)	7.50 L	0.00	Large Cap	27.11
G R Infraprojects Ltd.	Civil construction	14.31	405.9	1.96%	-0.10%	2.38% (Dec 2024)	1.91% (Apr 2025)	3.78 L	0.00	Other	26.71
WABCO India Ltd.	Auto components & equipments	5.36	392.2	1.90%	0.17%	1.95% (Aug 2025)	1.53% (Jan 2025)	29.70 k	0.00	Mid Cap	26.23
Nuvoco Vistas Corporation Ltd.	Cement & cement products	11.49	389.8	1.88%	-0.24%	2.33% (Aug 2025)	1.64% (Dec 2024)	10.94 L	0.00	Other	26.71
Indus Towers Ltd.	Telecom - infrastructure	1.75	362.3	1.75%	0.21%	1.79% (Apr 2025)	1.32% (Dec 2024)	9.03 L	0.00	Large Cap	27.11
- Schaeffler India Ltd.	Auto components & equipments	5.36	360.7	1.74%	0.00%	1.82% (Sep 2025)	1.35% (Dec 2024)	92.50 k	0.00	Other	26.71
Power Grid Corporation of India Ltd.	Power - transmission	4.2	349.1	1.69%	-0.05%	1.93% (Apr 2025)	1.66% (Aug 2025)	12.93 L	0.00	Large Cap	27.11
AIA Engineering Ltd.	Castings & forgings	1.62	336.2	1.62%	0.30%	1.62% (Nov 2025)	1.23% (Jul 2025)	87.04 k	0.00	Mid Cap	26.23
KSB Ltd.	Compressors, pumps & diesel engines	4.54	328.5	1.59%	0.01%	1.65% (Aug 2025)	1.4% (Jan 2025)	4.28 L	0.00	Other	26.71
ABB India Ltd.	Heavy electrical equipment	7.89	318.3	1.54%	0.04%	1.82% (Dec 2024)	1.44% (Aug 2025)	61.50 k	0.00	Large Cap	27.11
Phoenix Mills Ltd.	Residential, commercial projects	6.05	316.1	1.53%	0.10%	1.53% (Nov 2025)	1.21% (Jul 2025)	1.82 L	0.00	Small Cap	15.66
Hitachi Energy India Ltd.	Heavy electrical equipment	7.89	309.8	1.50%	0.33%	2.08% (May 2025)	1.17% (Oct 2025)	14.05 k	0.00	Other	26.71
Gujarat Pipavav Port Ltd.	Port & port services	4.86	308.2	1.49%	0.14%	1.49% (Nov 2025)	1.12% (Apr 2025)	17.25 L	0.00	Small Cap	15.66
Tata Power Co. Ltd.	Integrated power utilities	3.49	302.3	1.46%	-0.01%	1.47% (Oct 2025)	1.3% (Dec 2024)	7.75 L	0.00	Mid Cap	26.23
Afcons Infrastructure Ltd.	Civil construction	14.31	302.1	1.46%	-0.11%	1.59% (Sep 2025)	0.89% (Jul 2025)	7.48 L	0.00	Other	26.71
Associated Cement Companies Ltd.	Cement & cement products	11.49	292.4	1.41%	0.02%	1.54% (Feb 2025)	1.27% (Jul 2025)	1.58 L	0.00	Mid Cap	26.23
3M India Ltd.	Diversified	1.38	284.6	1.38%	0.25%	1.38% (Nov 2025)	1.02% (Jun 2025)	8.17 k	0.00	Mid Cap	26.23
Data Patterns India Ltd.	Aerospace & defense	1.33	276.2	1.33%	0.14%	1.33% (Nov 2025)	0.72% (Feb 2025)	92.97 k	0.00	Other	26.71
Oberoi Realty Ltd.	Residential, commercial projects	6.05	275.1	1.33%	-0.06%	1.66% (Dec 2024)	1.22% (Jul 2025)	1.67 L	0.00	Mid Cap	26.23
Grindwell Norton Ltd.	Abrasives & bearings	3.29	274.9	1.33%	-0.07%	1.59% (Jan 2025)	1.22% (Jul 2025)	1.77 L	0.00	Small Cap	15.66
Ratnamani Metals & Tubes Ltd.	Iron & steel products	2.05	274	1.32%	0.01%	1.57% (Dec 2024)	1.29% (Aug 2025)	1.15 L	0.00	Small Cap	15.66
Astral Ltd.	Plastic products - industrial	1.3	269	1.30%	0.03%	1.34% (Feb 2025)	1.18% (Jul 2025)	1.87 L	0.00	Mid Cap	26.23
Siemens Ltd.	Heavy electrical equipment	7.89	260.1	1.26%	0.12%	2.24% (Jan 2025)	0.81% (Apr 2025)	78.88 k	0.00	Large Cap	27.11
PNC Infratech Ltd.	Civil construction	14.31	257.4	1.24%	-0.13%	1.55% (Jan 2025)	1.24% (Nov 2025)	10.40 L	0.00	Small Cap	15.66
Timken India Ltd.	Abrasives & bearings	3.29	253.4	1.22%	0.04%	1.23% (Jun 2025)	0.96% (Apr 2025)	80.32 k	0.00	Small Cap	15.66
Kalpataru Power Transmission Ltd.	Civil construction	14.31	249.7	1.21%	-0.01%	1.22% (Oct 2025)	0.98% (Feb 2025)	2.08 L	0.00	Small Cap	15.66
Siemens Energy India Ltd.	Power generation	7.01	249.2	1.20%	0.02%	1.26% (Sep 2025)	0% (Dec 2024)	78.88 k	0.00	Other	26.71
Inox India Ltd.	Engineering	1.17	242.3	1.17%	0.02%	1.17% (Nov 2025)	0.89% (Jan 2025)	2.07 L	0.00	Other	26.71
Trualt Bioenergy Ltd.	Other agricultural products	1.17	241.9	1.17%	0.04%	1.17% (Nov 2025)	0% (Dec 2024)	5.43 L	0.00	Other	26.71
Acme Solar Holdings Ltd.	Holding company	1.17	241.4	1.17%	-0.21%	1.4% (Aug 2025)	0.99% (Mar 2025)	10.49 L	0.00	Other	26.71
Kajaria Ceramics Ltd.	Ceramics	1.11	230	1.11%	-0.11%	1.22% (Oct 2025)	0.84% (Apr 2025)	2.16 L	0.00	Small Cap	15.66
Aditya Birla Real Estate Ltd.	Paper & paper products	1.08	224.2	1.08%	-0.03%	1.37% (Dec 2024)	1% (Sep 2025)	1.26 L	-0.50 k	Mid Cap	26.23
SKF India (Industrial) Ltd.	Auto components & equipments	5.36	219.4	1.06%	0.03%	1.06% (Nov 2025)	0% (Dec 2024)	80.00 k	0.00	Other	26.71
Mahindra Logistics Ltd.	Logistics solution provider	1.93	218.9	1.06%	-0.06%	1.12% (Oct 2025)	0.63% (Mar 2025)	6.74 L	0.00	Small Cap	15.66
DEE Development Engineers Ltd.	Construction projects	1.03	213.5	1.03%	-0.18%	1.4% (Jun 2025)	1.03% (Nov 2025)	10.00 L	0.00	Other	26.71
- Honeywell Automation India Ltd.	Industrial products	1.77	205.7	0.99%	0.00%	1.1% (Jan 2025)	0.96% (Mar 2025)	5.81 k	0.00	Mid Cap	26.23
Bharat Bijlee Ltd.	Other electrical equipment	0.96	198	0.96%	-0.01%	1.1% (Dec 2024)	0.92% (Jul 2025)	68.57 k	0.00	Other	26.71
Tarc Ltd.	Residential, commercial projects	6.05	197.3	0.95%	-0.10%	1.17% (Jul 2025)	0.85% (Mar 2025)	14.09 L	0.00	Other	26.71
TCI Express Ltd.	Logistics solution provider	1.93	180.9	0.87%	-0.12%	1.13% (Feb 2025)	0.87% (Nov 2025)	3.11 L	0.00	Small Cap	15.66
KNR Constructions	Civil construction	14.31	180	0.87%	-0.08%	1.67% (Dec 2024)	0.87% (Nov 2025)	11.24 L	0.00	Small Cap	15.66
Linde India Ltd.	Industrial gases	1.67	177.8	0.86%	0.02%	1% (May 2025)	0.77% (Dec 2024)	29.80 k	0.00	Small Cap	15.66
KEC International Ltd.	Heavy electrical equipment	7.89	168	0.81%	-0.13%	2.29% (Dec 2024)	0.81% (Nov 2025)	2.45 L	0.00	Small Cap	15.66
Ellenbarrie Industrial Gases Ltd.	Industrial gases	1.67	167.9	0.81%	-0.12%	1.11% (Jul 2025)	0% (Dec 2024)	4.27 L	0.00	Other	26.71
Cyient DLM Ltd.	Industrial products	1.77	162	0.78%	-0.02%	1.08% (Dec 2024)	0.74% (Sep 2025)	3.77 L	0.00	Other	26.71
SKF India Ltd.	Abrasives & bearings	3.29	153.3	0.74%	-0.06%	1.76% (Sep 2025)	0.74% (Nov 2025)	80.00 k	0.00	Small Cap	15.66
Bansal Wire Industries Ltd.	Iron & steel products	2.05	152	0.73%	0.06%	0.91% (Dec 2024)	0.67% (Oct 2025)	4.69 L	0.00	Other	26.71
Epack Durable Ltd.	Household appliances	0.73	151.8	0.73%	-0.16%	1% (Aug 2025)	0% (Dec 2024)	5.60 L	0.00	Other	26.71
ISGEC Heavy Engineering Ltd.	Civil construction	14.31	142.6	0.69%	-0.02%	1.07% (Dec 2024)	0.69% (Nov 2025)	1.73 L	0.00	Other	26.71
Kross Ltd.	Auto components & equipments	5.36	137.4	0.66%	-0.03%	0.75% (Dec 2024)	0.64% (May 2025)	8.17 L	0.00	Other	26.71
Thermax Ltd.	Heavy electrical equipment	7.89	118.7	0.57%	-0.80%	1.64% (Jan 2025)	0.57% (Nov 2025)	40.64 k	-0.50 L	Mid Cap	26.23
- Grasim Industries Limited	Cement & cement products	11.49	14.4	0.07%	0.00%	0.07% (Nov 2025)	0% (Dec 2024)	5.26 k	0.00	Large Cap	27.11
Azad Engineering Ltd.	Aerospace & defense	1.33	200.4	0.00%	-0.94%	-	-	-	-	Other	26.71
Voltamp Transformers Ltd.	Heavy electrical equipment	7.89	182	0.00%	-0.85%	-	-	-	-	Small Cap	15.66

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
No new entrants in the portfolio in the last month.

Stocks removed from Portfolio (in 1 month period ending 30th Nov,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Azad Engineering Ltd.	Aerospace & defense	200.4	0.00%	-0.94%	0.94% (Oct 2025)	0% (Dec 2024)	0.00	-118136
Voltamp Transformers Ltd.	Heavy electrical equipment	182	0.00%	-0.85%	1.07% (Dec 2024)	0% (Dec 2024)	0.00	-24580

Trend in stock holdings (Top 15 Holding)

Stock	Nov 2025	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024
Larsen & Toubro Ltd.	6.88%	6.60%	5.97%	5.89%	5.72%	5.61%	5.77%	5.69%	6.01%	5.94%	5.83%	5.42%	5.42%
National Thermal Power Corporation Ltd.	3.67%	3.67%	3.69%	3.56%	3.49%	3.40%	3.49%	4.01%	4.09%	3.89%	3.52%	3.33%	3.52%
The Ramco Cements Ltd.	3.49%	3.40%	3.20%	3.41%	3.68%	3.27%	3.05%	3.19%	3.07%	3.10%	2.98%	2.88%	2.94%
Adani Ports And Special Economic Zone Ltd.	3.37%	3.13%	3.01%	2.82%	2.84%	2.92%	2.96%	2.72%	2.68%	2.64%	2.36%	2.43%	2.28%
Ultratech Cement Ltd.	2.65%	2.65%	2.70%	2.80%	2.61%	2.50%	2.38%	2.68%	2.68%	2.57%	2.54%	2.32%	2.20%
DLF Ltd.	2.24%	2.27%	2.13%	2.21%	2.26%	2.34%	2.29%	2.10%	2.14%	2.18%	2.23%	2.26%	2.19%
Cummins India Ltd.	2.95%	2.77%	2.49%	2.44%	2.18%	2.02%	2.00%	1.92%	2.04%	1.99%	1.85%	1.91%	1.97%
G R Infraprojects Ltd.	1.96%	2.06%	2.15%	2.21%	2.07%	2.18%	2.17%	1.91%	1.94%	2.04%	2.26%	2.38%	2.57%
Hitachi Energy India Ltd.	1.50%	2.34%	2.36%	-	-	-	-	-	-	-	-	-	-
ABB Power Products and Systems India Ltd.	-	-	-	1.26%	1.72%	1.67%	2.08%	1.70%	1.50%	1.46%	1.44%	1.49%	1.20%
Torrent Power Ltd.	2.03%	1.97%	1.82%	1.84%	1.88%	2.05%	1.97%	2.40%	2.34%	2.17%	2.19%	2.04%	2.01%
Adani Energy Solutions Ltd.	2.51%	2.41%	2.12%	1.87%	1.90%	2.01%	2.03%	2.29%	2.24%	1.82%	1.82%	1.81%	1.83%
Ambuja Cements Ltd.	1.99%	1.99%	1.99%	1.98%	2.00%	1.89%	1.86%	1.97%	1.99%	1.87%	1.80%	1.72%	1.66%
Nuvoco Vistas Corporation Ltd.	1.88%	2.12%	2.14%	2.33%	2.12%	1.69%	1.76%	1.70%	1.66%	1.84%	1.79%	1.64%	1.60%
WABCO India Ltd.	1.90%	1.73%	1.79%	1.95%	1.76%	1.74%	1.78%	1.81%	1.90%	1.74%	1.53%	1.53%	1.54%
Power Grid Corporation of India Ltd.	1.69%	1.74%	1.69%	1.66%	1.69%	1.70%	1.68%	1.93%	1.85%	1.74%	1.82%	1.71%	1.77%