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Sectoral / Thematic · Tata Mutual Fund · AMFI code 149066Tata Business Cycle Fund
Disclosed for 9 months, Jan 2026 to Sep 2026.Published as: TATA BUSINESS CYCLE FUND
Portfolio value
₹2,416 Cr
down ₹187 Cr vs Aug 2026
- Stocks held
- 49
- down 1 vs Aug 2026
- Top 10 weight
- 34.4%
- of the portfolio in its ten largest
- Cash & debt
- 2.2%
- cash, money market and debt
- Moves this month
- 1 in · 2 out
- added to 10, trimmed 32
Tata Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Tata Mutual Fund. In September 2026 it disclosed 49 stocks worth ₹2,416 Cr, down ₹187 Cr from Aug 2026. Its largest positions were Reliance Industries Limited (4.8%), Metropolis Healthcare Limited (4.2%), Axis Bank Limited (3.9%); the ten largest together made up 34.4% of the portfolio, and Banks was the biggest sector at 9.3% of its equity. Cash and debt stood at 2.2%. Compared with Aug 2026 the fund entered 1 new stock and exited 2.
Against 226 other Sectoral / Thematic funds
Concentration
16%
Top-10 weight is higher than 16% of peers
Breadth
62%
Holds more stocks than 62% of peers
Cash
32%
Holds more cash than 32% of peers
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.
| Reliance Industries Limited | 4.80% | up 0.01 pts | ₹116 Cr | down ₹8.8 Cr | Trimmed |
| Metropolis Healthcare Limited | 4.25% | down 0.33 pts | ₹103 Cr | down ₹16.4 Cr | Trimmed |
| Axis Bank Limited | 3.95% | up 0.06 pts | ₹95.4 Cr | down ₹5.8 Cr | Trimmed |
| Jindal Steel & Power Limited | 3.92% | up 0.10 pts | ₹94.6 Cr | down ₹4.8 Cr | Trimmed |
| HDFC Bank Limited | 3.73% | up 0.27 pts | ₹90.2 Cr | down ₹4 L | Held |
| L&T Finance Limited | 2.96% | down 0.37 pts | ₹71.6 Cr | down ₹15.1 Cr | Trimmed |
| Larsen & Toubro Limited | 2.92% | up <0.01 pts | ₹70.5 Cr | down ₹5.3 Cr | Trimmed |
| Delhivery Limited | 2.78% | down 0.09 pts | ₹67.2 Cr | down ₹7.6 Cr | Trimmed |
| Cummins India Limited | 2.58% | up 0.01 pts | ₹62.4 Cr | down ₹4.5 Cr | Trimmed |
| Adani Energy Solutions Limited | 2.53% | up 0.19 pts | ₹61.1 Cr | up ₹18 L | Held |
| Ratnamani Metals & Tubes Limited | 2.52% | up 0.25 pts | ₹60.8 Cr | up ₹1.7 Cr | Added |
| Ambuja Cements Limited | 2.42% | up 0.01 pts | ₹58.4 Cr | down ₹4.2 Cr | Trimmed |
| Niva Bupa Health Insurance Company Limited | 2.41% | down 0.02 pts | ₹58.1 Cr | down ₹5 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 2.35% | down 0.11 pts | ₹56.8 Cr | down ₹7.4 Cr | Trimmed |
| Cash, TREPS & receivables | 2.25% | down 0.41 pts | ₹54.3 Cr | down ₹14.8 Cr | Trimmed |
| Oil & Natural Gas Corporation Limited | 2.14% | up 0.19 pts | ₹51.6 Cr | up ₹86 L | Added |
| PB Fintech Limited | 2.13% | down 1.00 pts | ₹51.5 Cr | down ₹29.9 Cr | Trimmed |
| Godrej Properties Limited | 2.10% | down 0.31 pts | ₹50.6 Cr | down ₹12 Cr | Trimmed |
| Marico Limited | 2.08% | up 0.07 pts | ₹50.3 Cr | down ₹2.2 Cr | Trimmed |
| Tata Steel Limited | 2.03% | up 0.14 pts | ₹49 Cr | down ₹1 L | Held |
| Sedemac Mechatronics Limited | 1.99% | up 0.24 pts | ₹48.1 Cr | up ₹2.5 Cr | Added |
| The Ramco Cements Limited | 1.99% | up 0.14 pts | ₹48 Cr | down ₹13 L | Held |
| Vedanta Aluminium Metal Limited | 1.99% | up 0.04 pts | ₹48 Cr | down ₹2.6 Cr | Trimmed |
| Apollo Hospitals Enterprise Limited | 1.95% | down 0.02 pts | ₹47.2 Cr | down ₹4.2 Cr | Trimmed |
| One 97 Communications Limited | 1.95% | down 0.13 pts | ₹47 Cr | down ₹7.1 Cr | Trimmed |
| Dr. Lal Path Labs Limited | 1.93% | up 0.19 pts | ₹46.7 Cr | up ₹1.2 Cr | Added |
| Bharat Forge Limited | 1.93% | down 0.03 pts | ₹46.6 Cr | down ₹4.3 Cr | Trimmed |
| Graphite India Limited | 1.90% | up 0.68 pts | ₹45.8 Cr | up ₹14.3 Cr | Added |
| Acme Solar Holdings Ltd | 1.89% | up 0.26 pts | ₹45.7 Cr | up ₹3.1 Cr | Added |
| Adani Ports and Special Economic Zone Limited | 1.85% | up 0.33 pts | ₹44.6 Cr | up ₹5.1 Cr | Added |
| Nuvoco Vistas Corporation Ltd. | 1.82% | up 0.27 pts | ₹43.9 Cr | up ₹3.6 Cr | Added |
| Varun Beverages Limited | 1.76% | up 0.25 pts | ₹42.4 Cr | up ₹3.1 Cr | Added |
| Abbott India Limited | 1.63% | up 0.24 pts | ₹39.5 Cr | up ₹3.2 Cr | Added |
| GlaxoSmithKline Pharmaceuticals Limited | 1.52% | down 0.44 pts | ₹36.8 Cr | down ₹14.4 Cr | Trimmed |
| Bajaj Finserv Limited | 1.50% | down 0.13 pts | ₹36.4 Cr | down ₹6.1 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 1.50% | up 0.13 pts | ₹36.3 Cr | up ₹53 L | Added |
| DCB Bank Limited | 1.40% | up 0.01 pts | ₹33.7 Cr | down ₹2.4 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.38% | up 0.04 pts | ₹33.4 Cr | down ₹1.4 Cr | Trimmed |
| Hitachi Energy India Limited | 1.29% | up 1.29 pts | ₹31.2 Cr | up ₹31.2 Cr | New |
| Amber Enterprises India Limited | 1.20% | up 0.63 pts | ₹29 Cr | up ₹14.2 Cr | Added |
| 360 One WAM Limited | 1.15% | down 0.07 pts | ₹27.7 Cr | down ₹3.9 Cr | Trimmed |
| Five Star Business Finance Limited | 1.09% | up 0.04 pts | ₹26.2 Cr | down ₹92 L | Trimmed |
| Gravita India Limited | 1.06% | down 0.16 pts | ₹25.7 Cr | down ₹6.3 Cr | Trimmed |
| Dixon Technologies (India) Limited | 1.06% | down 0.06 pts | ₹25.5 Cr | down ₹3.4 Cr | Trimmed |
| Bayer Cropscience Limited | 1.02% | down 0.02 pts | ₹24.6 Cr | down ₹2.3 Cr | Trimmed |
| Hindustan Unilever Limited | 0.97% | up 0.03 pts | ₹23.5 Cr | down ₹1.1 Cr | Trimmed |
| Lohia Corp Ltd. | 0.94% | down 0.15 pts | ₹22.8 Cr | down ₹5.8 Cr | Trimmed |
| SBI Cards and Payment Services Limited | 0.79% | down 0.03 pts | ₹19.2 Cr | down ₹2.2 Cr | Trimmed |
| Shree Cement Limited | 0.49% | down 0.21 pts | ₹11.8 Cr | down ₹6.3 Cr | Trimmed |
| DEE Development Engineers Ltd | 0.22% | up 0.04 pts | ₹5.4 Cr | up ₹69 L | Added |
What changed, Aug 2026 to Sep 2026
New New positions (1)
- Hitachi Energy India Limited1.3% · ₹31.2 Cr
Exited Exited (2)
- Emmvee Photovoltaic Power Limitedwas 1.1% · ₹29 Cr
- Bharat Heavy Electricals Limitedwas 0.9% · ₹24.3 Cr
Added Biggest additions
- Graphite India Limitedup ₹14.3 Cr (+0.68% pts)
- Amber Enterprises India Limitedup ₹14.2 Cr (+0.63% pts)
- Adani Ports and Special Economic Zone Limited
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 Consumer Durables (+0.6 pts), and fell most in Financial Technology (fintech) (−1.2 pts) and Electrical Equipment (−0.8 pts).
- Industrial Products8.2% → 9.1%+0.9 pts
- Consumer Durables1.7% → 2.3%+0.6 pts
- Power4.1% → 4.5%+0.4 pts
- Transport Infrastructure1.6% → 1.9%+0.3 pts
- Banks9.0% → 9.3%+0.3 pts
- Beverages1.6% → 1.8%+0.2 pts
- Financial Technology (fintech)5.4% → 4.2%−1.2 pts
- Electrical Equipment2.1% → 1.3%−0.8 pts
- Finance9.5% → 8.9%−0.6 pts
- Realty2.5% → 2.1%−0.3 pts
- Pharmaceuticals & Biotechnology3.5% → 3.2%−0.2 pts
- Healthcare Services8.5% → 8.3%−0.2 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 | Mar 2026 | Jun 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|
| Banks | 13.4% | 12.2% | 9.0% | 9.3% |
| Industrial Products | 3.5% | 6.5% | 8.2% | 9.1% |
| Finance | 7.7% | 8.6% | 9.5% | 8.9% |
| Healthcare Services | 7.9% | 7.6% | 8.5% | 8.3% |
| Cement & Cement Products | 8.2% | 6.6% | 6.7% | 6.9% |
| Ferrous Metals | 6.3% | 5.3% | 5.9% | 6.1% |
| Insurance | 5.3% | 5.2% | 5.3% | 5.4% |
| Petroleum Products | 7.1% | 4.8% | 4.9% | 4.9% |
| Power | 5.1% | 6.8% | 4.1% | 4.5% |
| Financial Technology (fintech) | 3.6% | 4.1% | 5.4% | 4.2% |
Allocation in Sep 2026change vs Aug 2026
- Banks (3)9.3%▲ 0.3 pts
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.
Cash & debt, Sep 2026
2.2%
▼ 0.4 pts vs Aug 2026
- Cash alone
- 2.2%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.0% – 3.5%
- lowest to highest · record 3.5% in Apr 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.