Loading…
Sectoral / Thematic · Bandhan Mutual Fund · AMFI code 152880Bandhan Business Cycle Fund
Disclosed for 3 months, Jul 2026 to Sep 2026.
Portfolio value
₹1,003 Cr
down ₹97.2 Cr vs Aug 2026
- Stocks held
- 81
- down 5 vs Aug 2026
- Top 10 weight
- 38.9%
- of the portfolio in its ten largest
- Cash & debt
- 0.4%
- cash, money market and debt
- Moves this month
- 6 in · 11 out
- added to 10, trimmed 58
Bandhan Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Bandhan Mutual Fund. In September 2026 it disclosed 81 stocks worth ₹1,003 Cr, down ₹97.2 Cr from Aug 2026. Its largest positions were Axis Bank Limited (5.3%), HDFC Bank Limited (5.3%), Reliance Industries Limited (4.5%); the ten largest together made up 38.9% of the portfolio, and Banks was the biggest sector at 26.4% of its equity. Cash and debt stood at 0.4%. Compared with Aug 2026 the fund entered 6 new stocks and exited 11.
Against 229 other Sectoral / Thematic funds
Concentration
29%
Top-10 weight is higher than 29% of peers
Breadth
96%
Holds more stocks than 96% of peers
Cash
5%
Holds more cash than 5% of peers
What these mean: concentration · cash
Holdings in September 2026
Download CSVEvery line the fund disclosed, with the change against Aug 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| Axis Bank Limited | 5.34% | up 0.07 pts | ₹53.5 Cr | down ₹4.4 Cr | Trimmed |
| HDFC Bank Limited | 5.28% | up 0.72 pts | ₹52.9 Cr | up ₹2.8 Cr | Added |
| Reliance Industries Limited | 4.51% | up 0.09 pts | ₹45.2 Cr | down ₹3.4 Cr | Trimmed |
| ICICI Bank Limited | 4.16% | down 0.12 pts | ₹41.7 Cr | down ₹5.3 Cr | Trimmed |
| Bharti Airtel Limited | 3.63% | up 0.18 pts | ₹36.4 Cr | down ₹1.5 Cr | Trimmed |
| Bajaj Finance Limited | 3.61% | down 0.03 pts | ₹36.2 Cr | down ₹3.9 Cr | Trimmed |
| One 97 Communications Limited | 3.35% | down 0.39 pts | ₹33.5 Cr | down ₹7.6 Cr | Trimmed |
| NTPC Limited | 3.28% | up 0.20 pts | ₹32.9 Cr | down ₹98 L | Trimmed |
| Larsen & Toubro Limited | 3.03% | down 0.18 pts | ₹30.4 Cr | down ₹5 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 2.71% | up 0.09 pts | ₹27.1 Cr | down ₹1.6 Cr | Trimmed |
| Infosys Limited | 2.64% | down 0.16 pts | ₹26.5 Cr | down ₹4.3 Cr | Trimmed |
| State Bank of India | 2.50% | down 0.07 pts | ₹25 Cr | down ₹3.2 Cr | Trimmed |
| UltraTech Cement Limited | 2.07% | up 0.07 pts | ₹20.7 Cr | down ₹1.3 Cr | Trimmed |
| Acme Solar Holdings Ltd | 2.03% | up 0.30 pts | ₹20.4 Cr | up ₹1.3 Cr | Added |
| IDFC First Bank Limited | 2.02% | up 0.04 pts | ₹20.2 Cr | down ₹1.6 Cr | Trimmed |
| City Union Bank Limited | 1.76% | down 0.07 pts | ₹17.6 Cr | down ₹2.4 Cr | Trimmed |
| Adani Ports and Special Economic Zone Limited | 1.72% | up 0.28 pts | ₹17.3 Cr | up ₹1.4 Cr | Added |
| Sundaram Clayton Limited | 1.60% | up 0.03 pts | ₹16.1 Cr | down ₹1.2 Cr | Trimmed |
| Fortis Healthcare Limited | 1.56% | down 0.13 pts | ₹15.6 Cr | down ₹3 Cr | Trimmed |
| InterGlobe Aviation Limited | 1.54% | up 0.04 pts | ₹15.4 Cr | down ₹1.1 Cr | Trimmed |
| India Financial Services Ltd | 1.36% | up 0.21 pts | ₹13.6 Cr | up ₹96 L | Added |
| MphasiS Limited | 1.33% | down 0.07 pts | ₹13.4 Cr | down ₹2.1 Cr | Trimmed |
| Tata Consultancy Services Limited | 1.32% | down 0.12 pts | ₹13.2 Cr | down ₹2.6 Cr | Trimmed |
| Tata Power Company Limited | 1.27% | up 0.13 pts | ₹12.7 Cr | up ₹24 L | Added |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 1.18% | down 0.06 pts | ₹11.8 Cr | down ₹1.8 Cr | Trimmed |
| Fusion Finance Limited | 1.14% | down 0.05 pts | ₹11.5 Cr | down ₹1.7 Cr | Trimmed |
| Aurobindo Pharma Limited | 1.13% | up 0.05 pts | ₹11.3 Cr | down ₹54 L | Trimmed |
| Coromandel International Limited | 1.11% | down 0.03 pts | ₹11.2 Cr | down ₹1.4 Cr | Trimmed |
| Bharat Electronics Limited | 1.04% | up <0.01 pts | ₹10.5 Cr | down ₹99 L | Trimmed |
| UPL Limited | 1.04% | up 0.03 pts | ₹10.4 Cr | down ₹65 L | Trimmed |
| Maruti Suzuki India Limited | 0.99% | down 0.05 pts | ₹10 Cr | down ₹1.5 Cr | Trimmed |
| Ujjivan Small Finance Bank Limited | 0.97% | up 0.02 pts | ₹9.8 Cr | down ₹69 L | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 0.96% | down 0.05 pts | ₹9.6 Cr | down ₹1.5 Cr | Trimmed |
| Bank of India | 0.92% | up 0.04 pts | ₹9.2 Cr | down ₹42 L | Trimmed |
| The Phoenix Mills Limited | 0.91% | up 0.09 pts | ₹9.1 Cr | up ₹12 L | Added |
| Orient Cables (India) Limited | 0.90% | up 0.90 pts | ₹9 Cr | up ₹9 Cr | New |
| Varun Beverages Limited | 0.90% | up 0.11 pts | ₹9 Cr | up ₹37 L | Added |
| GMR Airports Limited | 0.90% | up 0.08 pts | ₹9 Cr | down ₹4 L | Held |
| HDFC Life Insurance Company Limited | 0.85% | up 0.08 pts | ₹8.6 Cr | up ₹3 L | Held |
| KEC International Limited | 0.83% | down 0.01 pts | ₹8.3 Cr | down ₹91 L | Trimmed |
| Epigral Limited | 0.81% | down 0.08 pts | ₹8.1 Cr | down ₹1.7 Cr | Trimmed |
| SBI Life Insurance Company Limited | 0.78% | up 0.08 pts | ₹7.8 Cr | up ₹16 L | Added |
| Metropolis Healthcare Limited | 0.78% | down 0.15 pts | ₹7.8 Cr | down ₹2.4 Cr | Trimmed |
| Torrent Power Limited | 0.77% | up 0.08 pts | ₹7.7 Cr | up ₹15 L | Added |
| Tata Technologies Limited | 0.74% | down 0.07 pts | ₹7.5 Cr | down ₹1.5 Cr | Trimmed |
| FSN E-Commerce Ventures Limited | 0.73% | down 0.02 pts | ₹7.4 Cr | down ₹88 L | Trimmed |
| Cipla Limited | 0.71% | up 0.02 pts | ₹7.1 Cr | down ₹53 L | Trimmed |
| Swiggy Limited | 0.71% | down 0.03 pts | ₹7.1 Cr | down ₹1.1 Cr | Trimmed |
| Can Fin Homes Limited | 0.69% | down 0.02 pts | ₹7 Cr | down ₹93 L | Trimmed |
| Glenmark Pharmaceuticals Limited | 0.69% | up 0.11 pts | ₹6.9 Cr | up ₹57 L | Added |
What changed, Aug 2026 to Sep 2026
New New positions (6)
- Orient Cables (India) Limited0.9% · ₹9 Cr
- Whirlpool of India Limited0.4% · ₹4.4 Cr
- SBI Cards and Payment Services Limited0.3% · ₹2.9 Cr
- Dr. Reddy's Laboratories Limited0.3% · ₹2.5 Cr
- Gokaldas Exports Limited0.1% · ₹86 L
- Page Industries Limited<0.1% · ₹36 L
Exited Exited (11)
- Tega Industries Limitedwas 1.1% · ₹11.8 Cr
- General Insurance Corporation of India
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2026, the weight rose most in Industrial Products (+0.9 pts) and Banks (+0.9 pts), and fell most in Industrial Manufacturing (−1.1 pts) and IT - Software (−0.7 pts).
- Industrial Products0.6% → 1.5%+0.9 pts
- Banks25.6% → 26.4%+0.9 pts
- Power8.0% → 8.8%+0.8 pts
- Pharmaceuticals & Biotechnology3.5% → 4.1%+0.6 pts
- Consumer Durables0.0% → 0.4%new+0.4 pts
- Transport Infrastructure2.3% → 2.6%+0.4 pts
- Industrial Manufacturing1.1% → 0.0%exited−1.1 pts
- IT - Software6.0% → 5.3%−0.7 pts
- Construction5.7% → 5.2%−0.5 pts
- Automobiles2.0% → 1.5%−0.5 pts
- Financial Technology (fintech)3.7% → 3.4%−0.4 pts
- Capital Markets0.6% → 0.3%−0.3 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Aug 2026 | Sep 2026 |
|---|---|---|
| Banks | 25.6% | 26.4% |
| Finance | 9.2% | 9.3% |
| Power | 8.0% | 8.8% |
| IT - Software | 6.0% | 5.3% |
| Construction | 5.7% | 5.2% |
| Petroleum Products | 4.4% | 4.5% |
| Pharmaceuticals & Biotechnology | 3.5% | 4.1% |
| Telecom - Services | 3.5% | 3.6% |
| Financial Technology (fintech) | 3.7% | 3.4% |
| Fertilizers & Agrochemicals | 2.6% | 2.7% |
Allocation in Sep 2026change vs Aug 2026
- Banks (10)26.4%▲ 0.9 pts
- Finance (7)9.3%▲ 0.1 pts
- Power (7)
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, Sep 2026
0.4%
▲ 0.3 pts vs Aug 2026
- Cash alone
- 0.4%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 0.1% – 0.7%
- lowest to highest · record 0.7% in Jul 2026
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.