What stocks does HDFC Business Cycle Fund hold?

HDFC Business Cycle Fund holds a portfolio of Indian equity stocks disclosed monthly by HDFC 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 HDFC Business Cycle Fund?

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

What category is HDFC Business Cycle Fund?

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

How often is HDFC Business Cycle Fund portfolio data updated?

Portfolio holdings for HDFC Business Cycle 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.

← HDFC Mutual Fund

HDFC Business Cycle Fund - Growth Option - Direct Plan

Equity Data as of Apr 2026 Comparing Mar 2026 → Apr 2026

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Stocks Held

Apr 2026

Equity Holdings

₹2,329.87 Cr

Equity only, excl. debt & cash

Top 5 Weight

25.8%

Moderate

Top 10 Weight

42.4%

Moderate

Changes

3 new · 5 exits

Top Sector

Banks

16.3% of portfolio

📋 What Happened This Month HDFC Business Cycle Fund made 3 new additions and exited 5 stocks this month. The biggest new buy was PB Fintech Limited (Financial Technology (Fintech)) at 1.56% weight. Balkrishna Industries Limited was the biggest exit (Auto Components), which was held at 1.29%. Among existing holdings, Clean Max Enviro Energy Solutions Limited # saw the biggest increase — now at 2.08% of the portfolio. ICICI Bank Limited was trimmed the most, now at 5.06%. Bharti Airtel Limited remains the top holding with Banks the dominant sector at 16.3%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

NAV Performance

1 year history · HDFC Business Cycle Fund - Growth Option - Direct Plan

-2.33%

+3.09%

-3.52%

-0.87%

Latest NAV

₹14.65

04 Jun 2026

52W High

₹15.77

-7% from High

52W Low

₹13.10

+12% from Low

Calendar Year Returns

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

2025

+2.7%

2024

+15.3%

2023

+29.9%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

16.4%

+ve in 94% windows

41.9% / -5.2%

3Y Rolling Avg

14.3% p.a.

+ve in 100% windows

16.3% / 10.4%

Crisis Period Behaviour

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

2024–25 Tariff

-17.3%

Rec: not yet

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)

0.48

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.68

Penalises downside volatility only.

Std Deviation (3Y)

13.5%

Lower = more consistent returns.

NAV Chart ₹14.65 04 Jun 2026

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

HDFC Business Cycle Fund - Growth Option - Direct Plan

Chart shows indexed performance (base = 100). Actual NAV: ₹14.65

Sector Shift Industry allocation month-over-month

Earlier shift unavailable

Needs 3 months of holdings data.

Mar 2026 → Apr 2026

Sector	Prev	Curr ▼	Delta
Banks	18.3%	16.3%	▼ -1.9%
Retailing	10.0%	10.3%	▲ +0.3%
Finance	8.8%	9.4%	▲ +0.6%
Pharmaceuticals & Biotechnology	9.2%	8.2%	▼ -1.0%
Telecom - Services	6.5%	6.2%	▼ -0.3%
Consumer Durables	4.6%	4.6%	● 0.0%
Chemicals & Petrochemicals	3.7%	3.5%	▼ -0.2%
Healthcare Services	3.2%	3.4%	▲ +0.1%
Power	2.8%	3.3%	▲ +0.6%
Automobiles	3.4%	2.8%	▼ -0.6%

🟢

Biggest New Buy

PB Fintech Limited

1.56% weight · Financial Technology (Fintech)

🔴

Biggest Exit

Balkrishna Industries Limited

1.29% was held · Auto Components

↑

Biggest Add

Clean Max Enviro Energy Solutions Limited #

+0.51% · now 2.08%

↓

Biggest Trim

ICICI Bank Limited

-1.92% · now 5.06%

🤝 Other funds also bought this month

PB Fintech Limited 39 funds

Nuvama Wealth Management Limited 18 funds

Bharat Dynamics Limited 12 funds

👋 Other funds also exited

Balkrishna Industries Limited 14 funds

Inventurus Knowledge Solutions Limited 10 funds

Piramal Pharma Limited 7 funds

Aditya Birla Real Estate Limited 5 funds

AMAGI MEDIA LABS LTD 4 funds

What Changed?

Comparing Mar 2026 → Apr 2026

Mar 2026 → Apr 2026

🟢 3 New Entries 🔴 5 Exits ↑ 33 Increased ↓ 21 Decreased

#	Stock	Sector	Weight (Apr 2026)
1	PB Fintech Limited ₹40.57 Cr	Financial Technology (Fintech)	1.56%
2	Bharat Dynamics Limited ₹25.38 Cr	Aerospace & Defense	0.97%
3	Nuvama Wealth Management Limited ₹2.34 Cr	Capital Markets	0.09%

#	Stock	Sector	Last Weight (Mar 2026)
1	Balkrishna Industries Limited ₹30.10 Cr	Auto Components	1.29%
2	Aditya Birla Real Estate Limited ₹14.36 Cr	Paper, Forest & Jute Products	0.62%
3	Inventurus Knowledge Solutions Limited ₹12.07 Cr	IT - Services	0.52%
4	Piramal Pharma Limited ₹11.38 Cr	Pharmaceuticals & Biotechnology	0.49%
5	AMAGI MEDIA LABS LTD ₹10.12 Cr	IT - Services	0.43%

#	Stock	Sector	Mar 2026	Apr 2026	Change
1	Clean Max Enviro Energy Solutions Limited # ₹54.23 Cr	Power	1.57%	2.08%	+0.51%
2	Aptus Value Housing Finance India Limited ₹69.81 Cr	Finance	2.24%	2.68%	+0.44%
3	Swiggy Limited ₹32.54 Cr	Retailing	0.90%	1.25%	+0.35%
4	Cholamandalam Investment and Finance Company Ltd ₹70.17 Cr	Finance	2.37%	2.69%	+0.32%
5	Home First Finance Company India Limited ₹50.54 Cr	Finance	1.62%	1.94%	+0.32%
6	Wework India Management Limited ₹20.72 Cr	Commercial Services & Supplies	0.52%	0.80%	+0.28%
7	IndusInd Bank Limited ₹60.18 Cr	Banks	2.12%	2.31%	+0.19%
8	Anthem Biosciences Limited ₹101.48 Cr	Pharmaceuticals & Biotechnology	3.75%	3.90%	+0.15%
9	Fortis Healthcare Limited ₹87.33 Cr	Healthcare Services	3.22%	3.35%	+0.13%
10	CG Power and Industrial Solutions Limited ₹31.93 Cr	Electrical Equipment	1.10%	1.23%	+0.13%
11	Vishal Mega Mart Limited ₹80.69 Cr	Retailing	2.98%	3.10%	+0.12%
12	Ola Electric Mobility Ltd ₹9.91 Cr	Automobiles	0.26%	0.38%	+0.12%
13	Awfis Space Solutions Limited ₹11.31 Cr	Commercial Services & Supplies	0.32%	0.43%	+0.11%
14	Sona BLW Precision Forgings Limited ₹21.25 Cr	Auto Components	0.72%	0.82%	+0.10%
15	Adani Ports and Special Economic Zone Limited ₹19.80 Cr	Transport Infrastructure	0.67%	0.76%	+0.09%
16	Afcons Infrastructure Limited ₹19.92 Cr	Construction	0.68%	0.76%	+0.08%
17	Ceigall India Ltd ₹17.36 Cr	Construction	0.59%	0.67%	+0.08%
18	ICICI Prudential Asset Management Company Limited ₹35.38 Cr	Capital Markets	1.29%	1.36%	+0.07%
19	PNC Infratech Limited ₹11.00 Cr	Construction	0.35%	0.42%	+0.07%
20	Godrej Properties Limited ₹11.68 Cr	Realty	0.40%	0.45%	+0.05%
21	Aequs Limited ₹7.12 Cr	Aerospace & Defense	0.22%	0.27%	+0.05%
22	RHI Magnesita India Limited ₹14.21 Cr	Industrial Products	0.51%	0.55%	+0.04%
23	Acme Solar Holdings Ltd ₹20.90 Cr	Power	0.77%	0.80%	+0.03%
24	G R Infraprojects Limited ₹15.99 Cr	Construction	0.58%	0.61%	+0.03%
25	JSW Energy Limited ₹11.71 Cr	Power	0.42%	0.45%	+0.03%
26	AU Small Finance Bank Limited ₹10.65 Cr	Banks	0.38%	0.41%	+0.03%
27	SULA VINEYARDS LIMITED ₹6.78 Cr	Beverages	0.23%	0.26%	+0.03%
28	Pearl Global Industries Limited ₹29.65 Cr	Textiles & Apparels	1.12%	1.14%	+0.02%
29	Brainbees Solutions Ltd ₹20.56 Cr	Retailing	0.77%	0.79%	+0.02%
30	The Phoenix Mills Limited ₹13.90 Cr	Realty	0.51%	0.53%	+0.02%
31	Crompton Greaves Consumer Electricals Limited ₹7.33 Cr	Consumer Durables	0.26%	0.28%	+0.02%
32	Mankind Pharma Limited ₹32.44 Cr	Pharmaceuticals & Biotechnology	1.24%	1.25%	+0.01%
33	Grindwell Norton Limited ₹5.67 Cr	Industrial Products	0.21%	0.22%	+0.01%

#	Stock	Sector	Mar 2026	Apr 2026	Change
1	ICICI Bank Limited ₹131.65 Cr	Banks	6.98%	5.06%	-1.92%
2	Bajaj Auto Limited ₹63.46 Cr	Automobiles	3.14%	2.44%	-0.70%
3	Lupin Limited ₹28.42 Cr	Pharmaceuticals & Biotechnology	1.62%	1.09%	-0.53%
4	Shriram Finance Limited ₹24.84 Cr	Finance	1.44%	0.95%	-0.49%
5	Escorts Kubota Limited ₹6.07 Cr	Agricultural, Commercial & Construction Vehicles	0.62%	0.23%	-0.39%
6	Bharti Airtel Limited ₹161.70 Cr	Telecom - Services	6.54%	6.21%	-0.33%
7	Ambuja Cements Limited ₹24.47 Cr	Cement & Cement Products	1.20%	0.94%	-0.26%
8	HDFC Bank Limited ₹93.38 Cr	Banks	3.79%	3.59%	-0.20%
9	Eris Lifesciences Limited ₹49.72 Cr	Pharmaceuticals & Biotechnology	2.09%	1.91%	-0.18%
10	Eternal Limited ₹135.02 Cr	Retailing	5.36%	5.19%	-0.17%
11	Aether Industries Limited ₹63.89 Cr	Chemicals & Petrochemicals	2.56%	2.45%	-0.11%
12	SRF Limited ₹27.21 Cr	Chemicals & Petrochemicals	1.13%	1.04%	-0.09%
13	InterGlobe Aviation Limited ₹71.30 Cr	Transport Services	2.80%	2.74%	-0.06%
14	Timken India Limited ₹33.21 Cr	Industrial Products	1.34%	1.28%	-0.06%
15	Leela Palaces Hotels & Resorts Limited ₹23.30 Cr	Leisure Services	0.95%	0.89%	-0.06%
16	Sagility Limited ₹18.73 Cr	IT - Services	0.77%	0.72%	-0.05%
17	Tata Motors Ltd ₹14.14 Cr	Agricultural, Commercial & Construction Vehicles	0.58%	0.54%	-0.04%
18	Titan Company Limited ₹112.87 Cr	Consumer Durables	4.36%	4.33%	-0.03%
19	Kotak Mahindra Bank Limited ₹129.21 Cr	Banks	4.98%	4.96%	-0.02%
20	Aadhar Housing Finance Limited ₹28.33 Cr	Finance	1.11%	1.09%	-0.02%
21	Chalet Hotels Limited ₹6.53 Cr	Leisure Services	0.26%	0.25%	-0.01%

Full Portfolio

57 stocks — Apr 2026

#	Stock	Sector	Weight & Value
1	Bharti Airtel Limited ₹161.70 Cr	Telecom - Services	6.21%
2	Eternal Limited ₹135.02 Cr	Retailing	5.19%
3	ICICI Bank Limited ₹131.65 Cr	Banks	5.06%
4	Kotak Mahindra Bank Limited ₹129.21 Cr	Banks	4.96%
5	Titan Company Limited ₹112.87 Cr	Consumer Durables	4.33%
6	Anthem Biosciences Limited ₹101.48 Cr	Pharmaceuticals & Biotechnology	3.90%
7	HDFC Bank Limited ₹93.38 Cr	Banks	3.59%
8	Fortis Healthcare Limited ₹87.33 Cr	Healthcare Services	3.35%
9	Vishal Mega Mart Limited ₹80.69 Cr	Retailing	3.10%
10	InterGlobe Aviation Limited ₹71.30 Cr	Transport Services	2.74%
11	Cholamandalam Investment and Finance Company Ltd ₹70.17 Cr	Finance	2.69%
12	Aptus Value Housing Finance India Limited ₹69.81 Cr	Finance	2.68%
13	Aether Industries Limited ₹63.89 Cr	Chemicals & Petrochemicals	2.45%
14	Bajaj Auto Limited ₹63.46 Cr	Automobiles	2.44%
15	IndusInd Bank Limited ₹60.18 Cr	Banks	2.31%
16	Clean Max Enviro Energy Solutions Limited # ₹54.23 Cr	Power	2.08%
17	Home First Finance Company India Limited ₹50.54 Cr	Finance	1.94%
18	Eris Lifesciences Limited ₹49.72 Cr	Pharmaceuticals & Biotechnology	1.91%
19	PB Fintech Limited ₹40.57 Cr	Financial Technology (Fintech)	1.56%
20	ICICI Prudential Asset Management Company Limited ₹35.38 Cr	Capital Markets	1.36%
21	Timken India Limited ₹33.21 Cr	Industrial Products	1.28%
22	Mankind Pharma Limited ₹32.44 Cr	Pharmaceuticals & Biotechnology	1.25%
23	Swiggy Limited ₹32.54 Cr	Retailing	1.25%
24	CG Power and Industrial Solutions Limited ₹31.93 Cr	Electrical Equipment	1.23%
25	Pearl Global Industries Limited ₹29.65 Cr	Textiles & Apparels	1.14%
26	Aadhar Housing Finance Limited ₹28.33 Cr	Finance	1.09%
27	Lupin Limited ₹28.42 Cr	Pharmaceuticals & Biotechnology	1.09%
28	SRF Limited ₹27.21 Cr	Chemicals & Petrochemicals	1.04%
29	Bharat Dynamics Limited ₹25.38 Cr	Aerospace & Defense	0.97%
30	Shriram Finance Limited ₹24.84 Cr	Finance	0.95%
31	Ambuja Cements Limited ₹24.47 Cr	Cement & Cement Products	0.94%
32	Leela Palaces Hotels & Resorts Limited ₹23.30 Cr	Leisure Services	0.89%
33	Sona BLW Precision Forgings Limited ₹21.25 Cr	Auto Components	0.82%
34	Acme Solar Holdings Ltd ₹20.90 Cr	Power	0.80%
35	Wework India Management Limited ₹20.72 Cr	Commercial Services & Supplies	0.80%
36	Brainbees Solutions Ltd ₹20.56 Cr	Retailing	0.79%
37	Adani Ports and Special Economic Zone Limited ₹19.80 Cr	Transport Infrastructure	0.76%
38	Afcons Infrastructure Limited ₹19.92 Cr	Construction	0.76%
39	Sagility Limited ₹18.73 Cr	IT - Services	0.72%
40	Ceigall India Ltd ₹17.36 Cr	Construction	0.67%
41	G R Infraprojects Limited ₹15.99 Cr	Construction	0.61%
42	RHI Magnesita India Limited ₹14.21 Cr	Industrial Products	0.55%
43	Tata Motors Ltd ₹14.14 Cr	Agricultural, Commercial & Construction Vehicles	0.54%
44	The Phoenix Mills Limited ₹13.90 Cr	Realty	0.53%
45	Godrej Properties Limited ₹11.68 Cr	Realty	0.45%
46	JSW Energy Limited ₹11.71 Cr	Power	0.45%
47	Awfis Space Solutions Limited ₹11.31 Cr	Commercial Services & Supplies	0.43%
48	PNC Infratech Limited ₹11.00 Cr	Construction	0.42%
49	AU Small Finance Bank Limited ₹10.65 Cr	Banks	0.41%
50	Ola Electric Mobility Ltd ₹9.91 Cr	Automobiles	0.38%
51	Crompton Greaves Consumer Electricals Limited ₹7.33 Cr	Consumer Durables	0.28%
52	Aequs Limited ₹7.12 Cr	Aerospace & Defense	0.27%
53	SULA VINEYARDS LIMITED ₹6.78 Cr	Beverages	0.26%
54	Chalet Hotels Limited ₹6.53 Cr	Leisure Services	0.25%
55	Escorts Kubota Limited ₹6.07 Cr	Agricultural, Commercial & Construction Vehicles	0.23%
56	Grindwell Norton Limited ₹5.67 Cr	Industrial Products	0.22%
57	Nuvama Wealth Management Limited ₹2.34 Cr	Capital Markets	0.09%