What stocks does Axis Business Cycles Fund hold?

Axis Business Cycles Fund holds a portfolio of Indian equity stocks disclosed monthly by Axis Mutual Fund to AMFI. The complete current holdings with weights and month-over-month changes are available on this page. Data is sourced from official AMFI portfolio disclosures.

Which AMC manages Axis Business Cycles Fund?

Axis Business Cycles Fund is managed by Axis Mutual Fund, a SEBI-registered Asset Management Company in India.

What category is Axis Business Cycles Fund?

Axis Business Cycles Fund is classified as a Equity mutual fund under SEBI's mutual fund categorisation framework.

How often is Axis Business Cycles Fund portfolio data updated?

Portfolio holdings for Axis Business Cycles Fund are updated monthly. SEBI mandates all AMCs to disclose their complete portfolio within 10 days of each month end. RightAdvise sources this data directly from official AMFI portfolio disclosures.

← Axis Mutual Fund

Axis Business Cycles Fund - Direct Plan - Growth

Equity Data as of Jun 2026 Comparing May 2026 → Jun 2026

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Stocks Held

Jun 2026

Equity Holdings

₹2,031.97 Cr

Equity only, excl. debt & cash

Top 5 Weight

17.3%

Diversified

Top 10 Weight

29.5%

Diversified

Changes

5 new · 4 exits

Top Sector

Banks

18.1% of portfolio

📋 What Happened This Month Axis Business Cycles Fund made 5 new additions and exited 4 stocks this month. The biggest new buy was Bajaj Finance Limited (Finance) at 1.37% weight. ITC Limited was the biggest exit (Diversified FMCG), which was held at 0.97%. Among existing holdings, Pine Labs Limited saw the biggest increase — now at 0.86% of the portfolio. NTPC Limited was trimmed the most, now at 1.30%. Larsen & Toubro Limited remains the top holding with Banks the dominant sector at 18.1%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

How Has the NAV Performed?

1 year history · Axis Business Cycles Fund - Direct Plan - Growth

+2.45%

+4.84%

+2.15%

+2.45%

Latest NAV

₹17.55

14 Jul 2026

52W High

₹17.72

-1% from High

52W Low

₹14.26

+23% from Low

Calendar Year Returns

Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.

2025

+4.5%

2024

+21.1%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

17.8%

+ve in 92% windows

49.8% / -4.7%

3Y Rolling Avg

16.9% p.a.

+ve in 100% windows

20.0% / 14.7%

Crisis Period Behaviour

"Pre-inception" = fund didn't exist during that period.

2024–25 Tariff

-19.2%

Rec: Jul 2026 (1yr 11mo)

COVID-19 Crash

Pre-inception

Rec: N/A

2022 Rate Hike

Pre-inception

Rec: N/A

2018 IL&FS

Pre-inception

Rec: N/A

Risk Ratios

3 years daily NAV · Risk-free rate 6.5% p.a. What do these mean? →

Sharpe Ratio (3Y)

0.65

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.90

Penalises downside volatility only.

Std Deviation (3Y)

14.7%

Lower = more consistent returns.

NAV Chart ₹17.55 14 Jul 2026

Simple Moving Avg: Click to draw · click again to remove

Axis Business Cycles Fund - Direct Plan - Growth

Chart shows indexed performance (base = 100). Actual NAV: ₹17.55

Sector Shift Industry allocation month-over-month

Apr 2026 → May 2026

Sector	Prev	Curr ▼	Delta
Banks	17.5%	17.5%	● 0.0%
Chemicals & Petrochemicals	6.5%	6.4%	▼ -0.1%
Auto Components	4.9%	5.5%	▲ +0.6%
Industrial Products	4.8%	5.3%	▲ +0.4%
Electrical Equipment	4.0%	4.3%	▲ +0.3%
Construction	4.0%	4.1%	● +0.1%
Retailing	2.7%	4.0%	▲ +1.3%
Capital Markets	3.3%	3.6%	▲ +0.4%
Automobiles	3.6%	3.6%	● +0.0%
Finance	5.1%	3.6%	▼ -1.6%

May 2026 → Jun 2026

Sector	Prev	Curr ▼	Delta
Banks	17.5%	18.1%	▲ +0.7%
Chemicals & Petrochemicals	6.4%	6.7%	▲ +0.4%
Auto Components	5.5%	5.9%	▲ +0.4%
Industrial Products	5.3%	5.2%	● -0.1%
Finance	3.6%	4.9%	▲ +1.3%
Retailing	4.0%	4.4%	▲ +0.4%
Construction	4.1%	4.1%	● 0.0%
Cement & Cement Products	3.6%	3.7%	● +0.1%
Automobiles	3.6%	3.6%	● -0.1%
Electrical Equipment	4.3%	3.3%	▼ -1.0%

🟢

Biggest New Buy

Bajaj Finance Limited

1.37% weight · Finance

🔴

Biggest Exit

ITC Limited

0.97% was held · Diversified FMCG

↑

Biggest Add

Pine Labs Limited

+0.43% · now 0.86%

↓

Biggest Trim

NTPC Limited

-0.69% · now 1.30%

🤝 Other funds also bought this month

Vedanta Aluminium Metal Limited 43 funds

InterGlobe Aviation Limited 42 funds

Bajaj Finance Limited 22 funds

Tech Mahindra Limited 19 funds

Info Edge (India) Limited 13 funds

👋 Other funds also exited

Infosys Limited 34 funds

HDFC Asset Management Company Limited 27 funds

ITC Limited 25 funds

Aavas Financiers Limited 4 funds

What Changed in the Portfolio This Month?

Comparing May 2026 → Jun 2026

May 2026 → Jun 2026

🟢 5 New Entries 🔴 4 Exits ↑ 32 Increased ↓ 36 Decreased

#	Stock	Sector	Weight (Jun 2026)
1	Bajaj Finance Limited ₹28.64 Cr	Finance	1.37%
2	Vedanta Aluminium Metal Limited ₹20.31 Cr	Metals & Minerals Trading	0.97%
3	InterGlobe Aviation Limited ₹14.39 Cr	Transport Services	0.69%
4	Tech Mahindra Limited ₹10.56 Cr	IT - Software	0.51%
5	Info Edge (India) Limited ₹8.10 Cr	Retailing	0.39%

#	Stock	Sector	Last Weight (May 2026)
1	ITC Limited ₹20.01 Cr	Diversified FMCG	0.97%
2	Infosys Limited ₹17.39 Cr	IT - Software	0.84%
3	HDFC Asset Management Company Limited ₹16.55 Cr	Capital Markets	0.80%
4	Aavas Financiers Limited ₹5.36 Cr	Finance	0.26%

#	Stock	Sector	May 2026	Jun 2026	Change
1	Pine Labs Limited ₹17.98 Cr	Financial Technology (Fintech)	0.43%	0.86%	+0.43%
2	Aether Industries Limited ₹48.10 Cr	Chemicals & Petrochemicals	1.89%	2.30%	+0.41%
3	Jyoti CNC Automation Ltd ₹28.18 Cr	Industrial Manufacturing	1.05%	1.35%	+0.30%
4	Tata Motors Ltd ₹25.74 Cr	Agricultural, Commercial & Construction Vehicles	0.94%	1.23%	+0.29%
5	ICICI Bank Limited ₹76.20 Cr	Banks	3.38%	3.65%	+0.27%
6	CreditAccess Grameen Limited ₹34.36 Cr	Finance	1.39%	1.65%	+0.26%
7	S.J.S. Enterprises Limited ₹9.84 Cr	Auto Components	0.27%	0.47%	+0.20%
8	Sapphire Foods India Limited ₹12.27 Cr	Leisure Services	0.40%	0.59%	+0.19%
9	HDFC Bank Limited ₹67.99 Cr	Banks	3.08%	3.26%	+0.18%
10	Max Healthcare Institute Limited ₹26.70 Cr	Healthcare Services	1.11%	1.28%	+0.17%
11	Minda Corporation Limited ₹15.88 Cr	Auto Components	0.60%	0.76%	+0.16%
12	Ambuja Cements Limited ₹21.25 Cr	Cement & Cement Products	0.88%	1.02%	+0.14%
13	Axis Bank Limited ₹76.11 Cr	Banks	3.54%	3.64%	+0.10%
14	Eternal Limited ₹50.88 Cr	Retailing	2.34%	2.44%	+0.10%
15	Mankind Pharma Limited ₹32.03 Cr	Pharmaceuticals & Biotechnology	1.45%	1.53%	+0.08%
16	Bosch Limited ₹21.95 Cr	Auto Components	0.98%	1.05%	+0.07%
17	Welspun Corp Limited ₹18.02 Cr	Industrial Products	0.79%	0.86%	+0.07%
18	PTC Industries Limited ₹31.97 Cr	Industrial Products	1.47%	1.53%	+0.06%
19	RBL Bank Limited ₹23.20 Cr	Banks	1.05%	1.11%	+0.06%
20	City Union Bank Limited ₹18.05 Cr	Banks	0.81%	0.86%	+0.05%
21	Page Industries Limited ₹15.72 Cr	Textiles & Apparels	0.70%	0.75%	+0.05%
22	Gujarat Fluorochemicals Limited ₹14.89 Cr	Chemicals & Petrochemicals	0.66%	0.71%	+0.05%
23	Bharat Forge Limited ₹14.35 Cr	Auto Components	0.64%	0.69%	+0.05%
24	CG Power and Industrial Solutions Limited ₹32.27 Cr	Electrical Equipment	1.51%	1.55%	+0.04%
25	Delhivery Limited ₹27.38 Cr	Transport Services	1.27%	1.31%	+0.04%
26	Titagarh Rail Systems Limited ₹20.53 Cr	Industrial Manufacturing	0.94%	0.98%	+0.04%
27	United Spirits Limited ₹14.35 Cr	Beverages	0.66%	0.69%	+0.03%
28	Kotak Mahindra Bank Limited ₹55.11 Cr	Banks	2.62%	2.64%	+0.02%
29	Solar Industries India Limited ₹33.59 Cr	Chemicals & Petrochemicals	1.59%	1.61%	+0.02%
30	Aditya Birla Real Estate Limited ₹7.74 Cr	Paper, Forest & Jute Products	0.35%	0.37%	+0.02%
31	Chalet Hotels Limited ₹13.45 Cr	Leisure Services	0.63%	0.64%	+0.01%
32	Hindustan Aeronautics Limited ₹13.27 Cr	Aerospace & Defense	0.63%	0.64%	+0.01%

#	Stock	Sector	May 2026	Jun 2026	Change
1	NTPC Limited ₹27.21 Cr	Power	1.99%	1.30%	-0.69%
2	Bharat Heavy Electricals Limited ₹23.45 Cr	Electrical Equipment	1.75%	1.12%	-0.63%
3	Anthem Biosciences Limited ₹13.49 Cr	Pharmaceuticals & Biotechnology	1.19%	0.65%	-0.54%
4	GE Vernova T&D India Limited ₹13.86 Cr	Electrical Equipment	1.02%	0.66%	-0.36%
5	Reliance Industries Limited ₹42.00 Cr	Petroleum Products	2.27%	2.01%	-0.26%
6	Jindal Steel Limited ₹29.78 Cr	Ferrous Metals	1.65%	1.43%	-0.22%
7	BSE Limited ₹43.57 Cr	Capital Markets	2.27%	2.09%	-0.18%
8	Hindustan Zinc Limited ₹16.29 Cr	Non - Ferrous Metals	0.94%	0.78%	-0.16%
9	RHI Magnesita India Limited ₹18.52 Cr	Industrial Products	1.00%	0.89%	-0.11%
10	Cummins India Limited ₹39.64 Cr	Industrial Products	2.00%	1.90%	-0.10%
11	Coforge Limited ₹21.36 Cr	IT - Software	1.11%	1.02%	-0.09%
12	HCL Technologies Limited ₹16.07 Cr	IT - Software	0.86%	0.77%	-0.09%
13	Aarti Industries Limited ₹28.90 Cr	Chemicals & Petrochemicals	1.46%	1.38%	-0.08%
14	Vishal Mega Mart Limited ₹28.68 Cr	Retailing	1.44%	1.37%	-0.07%
15	Hindustan Copper Limited ₹15.13 Cr	Non - Ferrous Metals	0.79%	0.72%	-0.07%
16	PI Industries Limited ₹14.28 Cr	Fertilizers & Agrochemicals	0.75%	0.68%	-0.07%
17	Grasim Industries Limited ₹55.12 Cr	Cement & Cement Products	2.70%	2.64%	-0.06%
18	Oil & Natural Gas Corporation Limited ₹22.15 Cr	Oil	1.11%	1.06%	-0.05%
19	Jubilant Ingrevia Limited ₹15.21 Cr	Chemicals & Petrochemicals	0.78%	0.73%	-0.05%
20	Mphasis Limited ₹13.85 Cr	IT - Software	0.71%	0.66%	-0.05%
21	Endurance Technologies Limited ₹21.60 Cr	Auto Components	1.07%	1.03%	-0.04%
22	Tube Investments of India Limited ₹14.47 Cr	Auto Components	0.73%	0.69%	-0.04%
23	Asian Paints Limited ₹24.59 Cr	Consumer Durables	1.21%	1.18%	-0.03%
24	Hyundai Motor India Ltd ₹22.77 Cr	Automobiles	1.12%	1.09%	-0.03%
25	Hindustan Unilever Limited ₹18.17 Cr	Diversified FMCG	0.90%	0.87%	-0.03%
26	Jubilant Foodworks Limited ₹14.30 Cr	Leisure Services	0.71%	0.68%	-0.03%
27	Mahindra & Mahindra Limited ₹52.01 Cr	Automobiles	2.51%	2.49%	-0.02%
28	Bajaj Finserv Limited ₹19.89 Cr	Finance	0.97%	0.95%	-0.02%
29	Bandhan Bank Limited ₹15.14 Cr	Banks	0.75%	0.73%	-0.02%
30	Healthcare Global Enterprises Limited ₹14.17 Cr	Healthcare Services	0.70%	0.68%	-0.02%
31	Corona Remedies Limited ₹12.88 Cr	Pharmaceuticals & Biotechnology	0.64%	0.62%	-0.02%
32	360 One WAM Limited ₹11.44 Cr	Capital Markets	0.57%	0.55%	-0.02%
33	SBI Life Insurance Company Limited ₹7.10 Cr	Insurance	0.36%	0.34%	-0.02%
34	Swiggy Limited ₹4.19 Cr	Retailing	0.22%	0.20%	-0.02%
35	IndusInd Bank Limited ₹46.21 Cr	Banks	2.22%	2.21%	-0.01%
36	PNB Housing Finance Limited ₹20.08 Cr	Finance	0.97%	0.96%	-0.01%

What Stocks Does This Fund Hold?

78 stocks — Jun 2026

#	Stock	Sector	Weight & Value
1	Larsen & Toubro Limited ₹85.25 Cr	Construction	4.08%
2	ICICI Bank Limited ₹76.20 Cr	Banks	3.65%
3	Axis Bank Limited ₹76.11 Cr	Banks	3.64%
4	HDFC Bank Limited ₹67.99 Cr	Banks	3.26%
5	Kotak Mahindra Bank Limited ₹55.11 Cr	Banks	2.64%
6	Grasim Industries Limited ₹55.12 Cr	Cement & Cement Products	2.64%
7	Mahindra & Mahindra Limited ₹52.01 Cr	Automobiles	2.49%
8	Eternal Limited ₹50.88 Cr	Retailing	2.44%
9	Bharti Airtel Limited ₹49.02 Cr	Telecom - Services	2.35%
10	Aether Industries Limited ₹48.10 Cr	Chemicals & Petrochemicals	2.30%
11	IndusInd Bank Limited ₹46.21 Cr	Banks	2.21%
12	BSE Limited ₹43.57 Cr	Capital Markets	2.09%
13	Reliance Industries Limited ₹42.00 Cr	Petroleum Products	2.01%
14	Cummins India Limited ₹39.64 Cr	Industrial Products	1.90%
15	One 97 Communications Limited ₹37.07 Cr	Financial Technology (Fintech)	1.77%
16	CreditAccess Grameen Limited ₹34.36 Cr	Finance	1.65%
17	Solar Industries India Limited ₹33.59 Cr	Chemicals & Petrochemicals	1.61%
18	CG Power and Industrial Solutions Limited ₹32.27 Cr	Electrical Equipment	1.55%
19	Mankind Pharma Limited ₹32.03 Cr	Pharmaceuticals & Biotechnology	1.53%
20	PTC Industries Limited ₹31.97 Cr	Industrial Products	1.53%
21	Jindal Steel Limited ₹29.78 Cr	Ferrous Metals	1.43%
22	Aarti Industries Limited ₹28.90 Cr	Chemicals & Petrochemicals	1.38%
23	Bajaj Finance Limited ₹28.64 Cr	Finance	1.37%
24	Vishal Mega Mart Limited ₹28.68 Cr	Retailing	1.37%
25	Jyoti CNC Automation Ltd ₹28.18 Cr	Industrial Manufacturing	1.35%
26	Delhivery Limited ₹27.38 Cr	Transport Services	1.31%
27	NTPC Limited ₹27.21 Cr	Power	1.30%
28	Max Healthcare Institute Limited ₹26.70 Cr	Healthcare Services	1.28%
29	Tata Motors Ltd ₹25.74 Cr	Agricultural, Commercial & Construction Vehicles	1.23%
30	Sona BLW Precision Forgings Limited ₹25.13 Cr	Auto Components	1.20%
31	Asian Paints Limited ₹24.59 Cr	Consumer Durables	1.18%
32	Bharat Heavy Electricals Limited ₹23.45 Cr	Electrical Equipment	1.12%
33	RBL Bank Limited ₹23.20 Cr	Banks	1.11%
34	Hyundai Motor India Ltd ₹22.77 Cr	Automobiles	1.09%
35	Oil & Natural Gas Corporation Limited ₹22.15 Cr	Oil	1.06%
36	Bosch Limited ₹21.95 Cr	Auto Components	1.05%
37	Endurance Technologies Limited ₹21.60 Cr	Auto Components	1.03%
38	Coforge Limited ₹21.36 Cr	IT - Software	1.02%
39	Ambuja Cements Limited ₹21.25 Cr	Cement & Cement Products	1.02%
40	Titagarh Rail Systems Limited ₹20.53 Cr	Industrial Manufacturing	0.98%
41	Vedanta Aluminium Metal Limited ₹20.31 Cr	Metals & Minerals Trading	0.97%
42	PNB Housing Finance Limited ₹20.08 Cr	Finance	0.96%
43	Bajaj Finserv Limited ₹19.89 Cr	Finance	0.95%
44	RHI Magnesita India Limited ₹18.52 Cr	Industrial Products	0.89%
45	Hindustan Unilever Limited ₹18.17 Cr	Diversified FMCG	0.87%
46	City Union Bank Limited ₹18.05 Cr	Banks	0.86%
47	Welspun Corp Limited ₹18.02 Cr	Industrial Products	0.86%
48	Pine Labs Limited ₹17.98 Cr	Financial Technology (Fintech)	0.86%
49	Brigade Enterprises Limited ₹16.58 Cr	Realty	0.79%
50	Hindustan Zinc Limited ₹16.29 Cr	Non - Ferrous Metals	0.78%
51	HCL Technologies Limited ₹16.07 Cr	IT - Software	0.77%
52	Minda Corporation Limited ₹15.88 Cr	Auto Components	0.76%
53	Page Industries Limited ₹15.72 Cr	Textiles & Apparels	0.75%
54	Jubilant Ingrevia Limited ₹15.21 Cr	Chemicals & Petrochemicals	0.73%
55	Bandhan Bank Limited ₹15.14 Cr	Banks	0.73%
56	Hindustan Copper Limited ₹15.13 Cr	Non - Ferrous Metals	0.72%
57	Gujarat Fluorochemicals Limited ₹14.89 Cr	Chemicals & Petrochemicals	0.71%
58	United Spirits Limited ₹14.35 Cr	Beverages	0.69%
59	Bharat Forge Limited ₹14.35 Cr	Auto Components	0.69%
60	Tube Investments of India Limited ₹14.47 Cr	Auto Components	0.69%
61	InterGlobe Aviation Limited ₹14.39 Cr	Transport Services	0.69%
62	Jubilant Foodworks Limited ₹14.30 Cr	Leisure Services	0.68%
63	PI Industries Limited ₹14.28 Cr	Fertilizers & Agrochemicals	0.68%
64	Healthcare Global Enterprises Limited ₹14.17 Cr	Healthcare Services	0.68%
65	GE Vernova T&D India Limited ₹13.86 Cr	Electrical Equipment	0.66%
66	Mphasis Limited ₹13.85 Cr	IT - Software	0.66%
67	Anthem Biosciences Limited ₹13.49 Cr	Pharmaceuticals & Biotechnology	0.65%
68	Hindustan Aeronautics Limited ₹13.27 Cr	Aerospace & Defense	0.64%
69	Chalet Hotels Limited ₹13.45 Cr	Leisure Services	0.64%
70	Corona Remedies Limited ₹12.88 Cr	Pharmaceuticals & Biotechnology	0.62%
71	Sapphire Foods India Limited ₹12.27 Cr	Leisure Services	0.59%
72	360 One WAM Limited ₹11.44 Cr	Capital Markets	0.55%
73	Tech Mahindra Limited ₹10.56 Cr	IT - Software	0.51%
74	S.J.S. Enterprises Limited ₹9.84 Cr	Auto Components	0.47%
75	Info Edge (India) Limited ₹8.10 Cr	Retailing	0.39%
76	Aditya Birla Real Estate Limited ₹7.74 Cr	Paper, Forest & Jute Products	0.37%
77	SBI Life Insurance Company Limited ₹7.10 Cr	Insurance	0.34%
78	Swiggy Limited ₹4.19 Cr	Retailing	0.20%