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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
₹2,366 Cr
down ₹328 Cr vs Feb 2026
- Stocks held
- 51
- down 2 vs Feb 2026
- Top 10 weight
- 38.3%
- of the portfolio in its ten largest
- Cash & debt
- 1.0%
- cash, money market and debt
- Moves this month
- 1 in · 3 out
- added to 6, trimmed 44
Tata Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from Tata Mutual Fund. In March 2026 it disclosed 51 stocks worth ₹2,366 Cr, down ₹328 Cr from Feb 2026. Its largest positions were Reliance Industries Limited (7.1%), Jindal Steel & Power Limited (4.7%), HDFC Bank Limited (4.5%); the ten largest together made up 38.3% of the portfolio, and Banks was the biggest sector at 13.4% of its equity. Cash and debt stood at 1.0%. Compared with Feb 2026 the fund entered 1 new stock and exited 3.
Against 226 other Sectoral / Thematic funds
Concentration
27%
Top-10 weight is higher than 27% of peers
Breadth
67%
Holds more stocks than 67% of peers
Cash
13%
Holds more cash than 13% of peers
What these mean: concentration · cash
Holdings in March 2026
Download CSVEvery line the fund disclosed, with the change against Feb 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| Reliance Industries Limited | 7.08% | up 0.89 pts | ₹167 Cr | up ₹74 L | Held |
| Jindal Steel & Power Limited | 4.67% | up 0.09 pts | ₹111 Cr | down ₹13 Cr | Trimmed |
| HDFC Bank Limited | 4.49% | down 0.30 pts | ₹106 Cr | down ₹22.7 Cr | Trimmed |
| Metropolis Healthcare Limited | 3.83% | up 0.14 pts | ₹90.6 Cr | down ₹8.8 Cr | Trimmed |
| Axis Bank Limited | 3.82% | down 0.18 pts | ₹90.3 Cr | down ₹17.3 Cr | Trimmed |
| Lupin Limited | 3.10% | up 0.30 pts | ₹73.4 Cr | down ₹2.2 Cr | Trimmed |
| Larsen & Toubro Limited | 3.00% | down 0.22 pts | ₹70.9 Cr | down ₹15.7 Cr | Trimmed |
| Delhivery Limited | 2.89% | up 0.25 pts | ₹68.3 Cr | down ₹2.7 Cr | Trimmed |
| L&T Finance Limited | 2.81% | down 0.11 pts | ₹66.5 Cr | down ₹12.1 Cr | Trimmed |
| Ambuja Cements Limited | 2.65% | down 0.25 pts | ₹62.6 Cr | down ₹15.5 Cr | Trimmed |
| Cummins India Limited | 2.53% | up 0.11 pts | ₹59.9 Cr | down ₹5.3 Cr | Trimmed |
| Apollo Hospitals Enterprise Limited | 2.51% | up 0.19 pts | ₹59.3 Cr | down ₹3.2 Cr | Trimmed |
| PB Fintech Limited | 2.25% | up 0.20 pts | ₹53.4 Cr | down ₹2 Cr | Trimmed |
| Shree Cement Limited | 2.13% | up 0.01 pts | ₹50.5 Cr | down ₹6.7 Cr | Trimmed |
| Shriram Transport Finance Company Limited Shriram Finance Limited · history in this fund | 2.13% | down 0.19 pts | ₹50.4 Cr | down ₹12 Cr | Trimmed |
| Vedanta Limited | 2.05% | up 0.12 pts | ₹48.6 Cr | down ₹3.5 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 2.04% | down 0.06 pts | ₹48.2 Cr | down ₹8.4 Cr | Trimmed |
| Adani Energy Solutions Limited | 2.03% | up 0.10 pts | ₹48.1 Cr | down ₹3.9 Cr | Trimmed |
| Niva Bupa Health Insurance Company Limited | 2.02% | up 0.12 pts | ₹47.8 Cr | down ₹3.3 Cr | Trimmed |
| Marico Limited | 1.99% | up 0.12 pts | ₹47.1 Cr | down ₹3.4 Cr | Trimmed |
| The Ramco Cements Limited | 1.98% | down 0.16 pts | ₹46.9 Cr | down ₹10.7 Cr | Trimmed |
| Godrej Properties Limited | 1.93% | down 0.06 pts | ₹45.7 Cr | down ₹8.1 Cr | Trimmed |
| Bank of Baroda | 1.86% | down 0.26 pts | ₹43.9 Cr | down ₹13.2 Cr | Trimmed |
| Adani Power Limited | 1.67% | up 0.89 pts | ₹39.6 Cr | up ₹18.5 Cr | Added |
| ICICI Lombard General Insurance Company Limited | 1.65% | up 0.04 pts | ₹39.1 Cr | down ₹4.4 Cr | Trimmed |
| Tata Steel Limited | 1.61% | up 0.16 pts | ₹38.1 Cr | down ₹1.1 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.60% | down 0.10 pts | ₹37.9 Cr | down ₹8 Cr | Trimmed |
| Varun Beverages Limited | 1.59% | down 0.05 pts | ₹37.7 Cr | down ₹6.6 Cr | Trimmed |
| Sedemac Mechatronics Limited | 1.57% | up 1.57 pts | ₹37.1 Cr | up ₹37.1 Cr | New |
| Dr. Lal Path Labs Limited | 1.47% | up 0.35 pts | ₹34.8 Cr | up ₹4.7 Cr | Added |
| Bajaj Finserv Limited | 1.45% | down 0.11 pts | ₹34.3 Cr | down ₹7.6 Cr | Trimmed |
| KEC International Limited | 1.40% | down 0.01 pts | ₹33.1 Cr | down ₹4.8 Cr | Trimmed |
| Adani Ports and Special Economic Zone Limited | 1.38% | down 0.02 pts | ₹32.6 Cr | down ₹5.2 Cr | Trimmed |
| Acme Solar Holdings Ltd | 1.38% | up 0.29 pts | ₹32.6 Cr | up ₹3.2 Cr | Added |
| Havells India Limited | 1.34% | down 0.04 pts | ₹31.7 Cr | down ₹5.5 Cr | Trimmed |
| Nuvoco Vistas Corporation Ltd. | 1.32% | down 0.03 pts | ₹31.3 Cr | down ₹5.2 Cr | Trimmed |
| One 97 Communications Limited | 1.28% | up 0.32 pts | ₹30.2 Cr | up ₹4.4 Cr | Added |
| Emmvee Photovoltaic Power Limited | 1.27% | up 0.27 pts | ₹30.1 Cr | up ₹3.1 Cr | Added |
| Bayer Cropscience Limited | 1.20% | up 0.39 pts | ₹28.3 Cr | up ₹6.5 Cr | Added |
| DCB Bank Limited | 1.11% | down 0.03 pts | ₹26.3 Cr | down ₹4.5 Cr | Trimmed |
| Hindustan Unilever Limited | 1.09% | up <0.01 pts | ₹25.7 Cr | down ₹3.5 Cr | Trimmed |
| Dabur India Limited | 1.08% | down 0.12 pts | ₹25.6 Cr | down ₹6.7 Cr | Trimmed |
| 360 One WAM Limited | 1.08% | down 0.02 pts | ₹25.5 Cr | down ₹4.1 Cr | Trimmed |
| ITC Limited | 1.03% | up 0.04 pts | ₹24.5 Cr | down ₹2.2 Cr | Trimmed |
| PI Industries Limited | 1.03% | down 0.01 pts | ₹24.4 Cr | down ₹3.6 Cr | Trimmed |
| Gravita India Limited | 0.99% | up 0.05 pts | ₹23.4 Cr | down ₹1.9 Cr | Trimmed |
| Graphite India Limited | 0.96% | up 0.07 pts | ₹22.8 Cr | down ₹1.2 Cr | Trimmed |
| Cash, TREPS & receivables | 0.95% | down 1.86 pts | ₹22.5 Cr | down ₹53.2 Cr | Trimmed |
| Five Star Business Finance Limited | 0.65% | down 0.02 pts | ₹15.4 Cr | down ₹2.8 Cr | Trimmed |
| Tata Capital Limited | 0.62% | up 0.02 pts | ₹14.7 Cr | down ₹1.4 Cr | Trimmed |
What changed, Feb 2026 to Mar 2026
New New positions (1)
- Sedemac Mechatronics Limited1.6% · ₹37.1 Cr
Exited Exited (3)
- Asian Paints Limitedwas 1.4% · ₹36.5 Cr
- Hyundai Motor India Ltdwas 1.0% · ₹26.4 Cr
- India Shelter Finance Corporation Limitedwas 0.6% · ₹14.9 Cr
Added Biggest additions
- Adani Power Limitedup ₹18.5 Cr (+0.89% pts)
- Bayer Cropscience Limitedup ₹6.5 Cr (+0.39% pts)
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 Feb 2026, the weight rose most in Auto Components (+1.6 pts) and Power (+1.2 pts), and fell most in Consumer Durables (−1.5 pts) and Finance (−1.1 pts).
- Auto Components0.0% → 1.6%new+1.6 pts
- Power3.9% → 5.1%+1.2 pts
- Petroleum Products6.4% → 7.1%+0.8 pts
- Healthcare Services7.3% → 7.9%+0.5 pts
- Financial Technology (fintech)3.1% → 3.6%+0.5 pts
- Fertilizers & Agrochemicals1.9% → 2.2%+0.3 pts
- Consumer Durables2.8% → 1.4%−1.5 pts
- Finance8.9% → 7.7%−1.1 pts
- Banks14.6% → 13.4%−1.1 pts
- Automobiles1.0% → 0.0%exited−1.0 pts
- Cement & Cement Products8.8% → 8.2%−0.6 pts
- Construction4.8% → 4.4%−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 | Feb 2026 | Mar 2026 |
|---|---|---|
| Banks | 14.6% | 13.4% |
| Cement & Cement Products | 8.8% | 8.2% |
| Healthcare Services | 7.3% | 7.9% |
| Finance | 8.9% | 7.7% |
| Petroleum Products | 6.4% | 7.1% |
| Ferrous Metals | 6.2% | 6.3% |
| Insurance | 5.4% | 5.3% |
| Power | 3.9% | 5.1% |
| Construction | 4.8% | 4.4% |
| Financial Technology (fintech) | 3.1% | 3.6% |
Allocation in Mar 2026change vs Feb 2026
- Banks (5)13.4%▼ 1.1 pts
- Cement & Cement Products (4)8.2%▼ 0.6 pts
- Healthcare Services (3)7.9%
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, Mar 2026
1.0%
▼ 1.9 pts vs Feb 2026
- Cash alone
- 0.9%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 1.0% – 2.8%
- lowest to highest · record 2.8% in Feb 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.