Nuclear stocks: This ace investor built 4-share basket months ahead of Kalpakkam Reactor feat - Do you own any?

Nuclear stocks: A close look at ace investor Mukul Agarwal's December quarter shareholding reveals that he held four-nuclear related stocks in the December 2025 quarter. After three months on April 6, India announced indigenously designed and built Prototype Fast Breeder Reactor (PFBR) at Kalpakkam in Tamil Nadu attained criticality.

Criticality is a point at which a reactor achieves a self-sustaining nuclear fission reaction, where the number of neutrons produced is sufficient to keep the reaction going without external intervention. 

CA Raghav Wadhwa listed out these stocks in a tweet which said: 

"4 companies. All in the nuclear supply chain. All in one portfolio. All bought BEFORE the PFBR achieved criticality on April 6, 2026. A Rs 7,000 crore portfolio doesn't take 4 bets on one theme by accident. He saw the nuclear capex cycle coming before the headlines did."

The four stocks are 

1. HCC

According to BSE shareholding data, Agarwal held 5 crore shares or 1.91% stake in the firm at the end of December 2025 quarter. Hindustan Construction Company (HCC) is the company that built 60% of India's nuclear power capacity. 

The company built nuclear power plants at Tarapur, Kakrapar,  Narora and Kudankulam.

Its ongoing projects are BARC - Reactor, Lab & Spent Fuel Building in Maharashtra (Ongoing), IGCAR Kalpakkam – FRFCF in  Tamil Nadu (Ongoing) and Roopur Nuclear Power Project in Bangladesh (Ongoing), according to the company's website 

2. PTC Industries 

The ace investor owned 1.07% stake or 1.6 lakh shares in the firm at the end of December 2025 quarter. PTC Industries is a manufacturer of high-precision metal components used in critical applications, including nuclear power plants.  The companu builds specialised alloy castings for reactor internals. 

3. WPIL Ltd 

Agarwal held 1.54% stake or 15 lakh shares in the firm at the end of December 2025 quarter. 

WPIL builds pumps for cooling systems of nuclear reactors. It also supplies auxiliary cooling water pumps, vertical turbines, and mixed flow pumps to nuclear plants. The company has public sector firm Nuclear Power Corporation of India Limited (NPCIL) as a direct client. NPCIL is responsible for design, construction, commissioning and operation of nuclear power reactors. 

4. KRN Heat Exchanger And Refrigeration 

The ace investor owned 1.58% stake or 10 lakh shares in the firm at the end of December 2025 quarter. 

Wadhwa mentions that "Heat exchangers are critical for reactor thermal management. Every new reactor needs them." KRN Heat Exchanger specialises in manufacturing fin and tube-type heat exchangers made primarily from copper and aluminium.