What stocks does HSBC Business Cycles Fund hold?

HSBC Business Cycles Fund holds a portfolio of Indian equity stocks disclosed monthly by HSBC 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 HSBC Business Cycles Fund?

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

What category is HSBC Business Cycles Fund?

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

How often is HSBC Business Cycles Fund portfolio data updated?

Portfolio holdings for HSBC 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.

← HSBC Mutual Fund

HSBC Business Cycles Fund - Direct Growth

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

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Stocks Held

Apr 2026

Equity Holdings

₹1,130.01 Cr

Equity only, excl. debt & cash

Top 5 Weight

20.1%

Diversified

Top 10 Weight

32.3%

Diversified

Changes

2 new · 3 exits

Top Sector

Banks

14.6% of portfolio

📋 What Happened This Month HSBC Business Cycles Fund made 2 new additions and exited 3 stocks this month. The biggest new buy was Nippon Life India Asset Management Limited (Capital Markets) at 1.32% weight. TBO Tek Limited was the biggest exit (Leisure Services), which was held at 0.81%. Among existing holdings, MTAR Technologies Limited saw the biggest increase — now at 3.31% of the portfolio. Reliance Industries Limited was trimmed the most, now at 5.00%. ICICI Bank Limited remains the top holding with Banks the dominant sector at 14.6%. ↓ Scroll down for full holdings, sector allocation and month-on-month changes in detail.

NAV Performance

1 year history · HSBC Business Cycles Fund - Direct Growth

-3.24%

+4.61%

-1.15%

-3.53%

Latest NAV

₹45.63

04 Jun 2026

52W High

₹49.68

-8% from High

52W Low

₹38.05

+20% from Low

Calendar Year Returns

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

2025

-1.6%

2024

+37.8%

2023

+32.7%

Rolling Returns

Performance across every possible investment start date.

1Y Rolling Avg

24.6%

+ve in 86% windows

60.7% / -8.4%

3Y Rolling Avg

20.2% p.a.

+ve in 100% windows

23.2% / 15.8%

Crisis Period Behaviour

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

2024–25 Tariff

-23.4%

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)

0.68

Return per unit of risk. >1 is good.

Sortino Ratio (3Y)

0.93

Penalises downside volatility only.

Std Deviation (3Y)

17.6%

Lower = more consistent returns.

NAV Chart ₹45.63 04 Jun 2026

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

HSBC Business Cycles Fund - Direct Growth

Chart shows indexed performance (base = 100). Actual NAV: ₹45.63

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	15.9%	14.6%	▼ -1.3%
Capital Markets	8.9%	10.9%	▲ +2.0%
Aerospace & Defense	7.1%	8.3%	▲ +1.1%
Finance	6.5%	6.9%	▲ +0.4%
Construction	6.3%	6.7%	▲ +0.4%
Retailing	5.3%	6.1%	▲ +0.8%
Consumer Durables	6.1%	5.8%	▼ -0.3%
Petroleum Products	5.5%	5.0%	▼ -0.5%
Electrical Equipment	4.0%	4.2%	▲ +0.2%
Industrial Products	4.1%	4.1%	● 0.0%

🟢

Biggest New Buy

Nippon Life India Asset Management Limited

1.32% weight · Capital Markets

🔴

Biggest Exit

TBO Tek Limited

0.81% was held · Leisure Services

↑

Biggest Add

MTAR Technologies Limited

+1.22% · now 3.31%

↓

Biggest Trim

Reliance Industries Limited

-0.53% · now 5.00%

🤝 Other funds also bought this month

FSN E-Commerce Ventures Limited 43 funds

Nippon Life India Asset Management Limited 28 funds

👋 Other funds also exited

Bank of Baroda 18 funds

TBO Tek Limited 3 funds

EIH Limited 2 funds

What Changed?

Comparing Mar 2026 → Apr 2026

Mar 2026 → Apr 2026

🟢 2 New Entries 🔴 3 Exits ↑ 35 Increased ↓ 31 Decreased

#	Stock	Sector	Weight (Apr 2026)
1	Nippon Life India Asset Management Limited ₹15.15 Cr	Capital Markets	1.32%
2	FSN E-Commerce Ventures Limited ₹7.94 Cr	Retailing	0.69%

#	Stock	Sector	Last Weight (Mar 2026)
1	TBO Tek Limited ₹7.93 Cr	Leisure Services	0.81%
2	EIH Limited ₹7.17 Cr	Leisure Services	0.73%
3	Bank of Baroda ₹5.37 Cr	Banks	0.55%

#	Stock	Sector	Mar 2026	Apr 2026	Change
1	MTAR Technologies Limited ₹38.03 Cr	Aerospace & Defense	2.09%	3.31%	+1.22%
2	Electronics Mart India Limited ₹15.56 Cr	Retailing	0.77%	1.35%	+0.58%
3	Hindalco Industries Limited ₹27.98 Cr	Non - Ferrous Metals	1.90%	2.44%	+0.54%
4	Prudent Corporate Advisory Services Limited ₹12.72 Cr	Capital Markets	0.67%	1.11%	+0.44%
5	Awfis Space Solutions Limited ₹5.27 Cr	Commercial Services & Supplies	0.12%	0.46%	+0.34%
6	Ahluwalia Contracts (India) Limited ₹24.49 Cr	Construction	1.84%	2.13%	+0.29%
7	Home First Finance Company India Limited ₹8.63 Cr	Finance	0.46%	0.75%	+0.29%
8	PNB Housing Finance Limited ₹20.35 Cr	Finance	1.50%	1.77%	+0.27%
9	Power Mech Projects Limited ₹13.19 Cr	Construction	0.94%	1.15%	+0.21%
10	Multi Commodity Exchange of India Limited ₹37.44 Cr	Capital Markets	3.08%	3.26%	+0.18%
11	Meghmani Finechem Limited ₹9.28 Cr	Chemicals & Petrochemicals	0.63%	0.81%	+0.18%
12	Hindustan Aeronautics Limited ₹27.68 Cr	Aerospace & Defense	2.28%	2.41%	+0.13%
13	Titagarh Rail Systems Limited ₹12.36 Cr	Industrial Manufacturing	0.95%	1.08%	+0.13%
14	Shadowfax Technologies Ltd. ₹8.02 Cr	Transport Services	0.57%	0.70%	+0.13%
15	Bharat Bijlee Ltd. ₹5.51 Cr	Electrical Equipment	0.38%	0.48%	+0.10%
16	GE Vernova T&D India Limited ₹26.35 Cr	Electrical Equipment	2.20%	2.29%	+0.09%
17	Motilal Oswal Financial Services Limited ₹16.01 Cr	Capital Markets	1.30%	1.39%	+0.09%
18	Bansal Wire Industries Limited ₹8.89 Cr	Industrial Products	0.69%	0.77%	+0.08%
19	Pitti Engineering Ltd ₹5.80 Cr	Industrial Manufacturing	0.42%	0.50%	+0.08%
20	Devyani International Limited ₹8.10 Cr	Leisure Services	0.63%	0.70%	+0.07%
21	Amber Enterprises India Limited ₹16.05 Cr	Consumer Durables	1.34%	1.40%	+0.06%
22	Kajaria Ceramics Limited ₹8.40 Cr	Consumer Durables	0.67%	0.73%	+0.06%
23	ABB India Limited ₹16.34 Cr	Electrical Equipment	1.37%	1.42%	+0.05%
24	Amara Raja Energy & Mobility Ltd ₹5.26 Cr	Auto Components	0.41%	0.46%	+0.05%
25	Time Technoplast Limited ₹15.90 Cr	Industrial Products	1.34%	1.38%	+0.04%
26	Pine Labs Limited ₹9.09 Cr	Financial Technology (Fintech)	0.75%	0.79%	+0.04%
27	PNC Infratech Limited ₹4.19 Cr	Construction	0.32%	0.36%	+0.04%
28	PARADEEP PHOSPHATES LIMITED ₹16.78 Cr	Fertilizers & Agrochemicals	1.43%	1.46%	+0.03%
29	Gokaldas Exports Limited ₹12.42 Cr	Textiles & Apparels	1.05%	1.08%	+0.03%
30	Sobha Limited ₹11.78 Cr	Realty	1.00%	1.03%	+0.03%
31	Mold-Tek Packaging Limited ₹10.39 Cr	Industrial Products	0.88%	0.90%	+0.02%
32	Ganesha Ecosphere Limited ₹4.71 Cr	Textiles & Apparels	0.39%	0.41%	+0.02%
33	Hi-Tech Pipes Limited ₹2.40 Cr	Industrial Products	0.19%	0.21%	+0.02%
34	Power Finance Corporation Limited ₹27.05 Cr	Finance	2.34%	2.35%	+0.01%
35	Gujarat Fluorochemicals Limited ₹11.38 Cr	Chemicals & Petrochemicals	0.98%	0.99%	+0.01%

#	Stock	Sector	Mar 2026	Apr 2026	Change
1	Reliance Industries Limited ₹57.48 Cr	Petroleum Products	5.53%	5.00%	-0.53%
2	Aditya Birla Real Estate Limited ₹6.32 Cr	Paper, Forest & Jute Products	1.00%	0.55%	-0.45%
3	HDFC Bank Limited ₹38.09 Cr	Banks	3.70%	3.31%	-0.39%
4	Tata Motors Ltd ₹10.25 Cr	Agricultural, Commercial & Construction Vehicles	1.21%	0.89%	-0.32%
5	Wakefit Innovations Limited ₹10.16 Cr	Consumer Durables	1.15%	0.88%	-0.27%
6	Bharat Electronics Limited ₹29.08 Cr	Aerospace & Defense	2.77%	2.53%	-0.24%
7	TVS Motor Company Limited ₹17.46 Cr	Automobiles	1.72%	1.52%	-0.20%
8	Swiggy Limited ₹17.23 Cr	Retailing	1.70%	1.50%	-0.20%
9	UltraTech Cement Limited ₹22.71 Cr	Cement & Cement Products	2.16%	1.98%	-0.18%
10	Eternal Limited ₹22.05 Cr	Retailing	2.09%	1.92%	-0.17%
11	State Bank of India ₹24.45 Cr	Banks	2.29%	2.13%	-0.16%
12	Kotak Mahindra Bank Limited ₹21.14 Cr	Banks	2.00%	1.84%	-0.16%
13	APL Apollo Tubes Limited ₹9.53 Cr	Industrial Products	0.99%	0.83%	-0.16%
14	InterGlobe Aviation Limited ₹19.33 Cr	Transport Services	1.82%	1.68%	-0.14%
15	Jyoti CNC Automation Ltd ₹11.64 Cr	Industrial Manufacturing	1.15%	1.01%	-0.14%
16	Piramal Finance Ltd ₹14.99 Cr	Finance	1.41%	1.30%	-0.11%
17	Tata Steel Limited ₹14.80 Cr	Ferrous Metals	1.38%	1.29%	-0.09%
18	Lenskart Solutions Limited ₹7.14 Cr	Retailing	0.71%	0.62%	-0.09%
19	Blue Star Limited ₹15.60 Cr	Consumer Durables	1.44%	1.36%	-0.08%
20	Larsen & Toubro Limited ₹26.69 Cr	Construction	2.39%	2.32%	-0.07%
21	Titan Company Limited ₹12.72 Cr	Consumer Durables	1.17%	1.11%	-0.06%
22	KEC International Limited ₹8.94 Cr	Construction	0.84%	0.78%	-0.06%
23	INDO COUNT INDUSTRIES LIMITED ₹8.69 Cr	Textiles & Apparels	0.80%	0.76%	-0.04%
24	Motherson Sumi Wiring India Limited ₹6.08 Cr	Auto Components	0.57%	0.53%	-0.04%
25	ICICI Bank Limited ₹60.01 Cr	Banks	5.25%	5.22%	-0.03%
26	RBL Bank Limited ₹23.90 Cr	Banks	2.11%	2.08%	-0.03%
27	Canara Robeco Asset Management Co Ltd/India ₹16.03 Cr	Capital Markets	1.41%	1.39%	-0.02%
28	Cholamandalam Investment and Finance Company Ltd ₹8.28 Cr	Finance	0.74%	0.72%	-0.02%
29	PB Fintech Limited ₹19.85 Cr	Financial Technology (Fintech)	1.74%	1.73%	-0.01%
30	INDIAN HUME PIPE COMPANY LIMITED ₹10.90 Cr	N.A.	0.96%	0.95%	-0.01%
31	PG Electroplast Limited ₹3.60 Cr	Consumer Durables	0.32%	0.31%	-0.01%

Full Portfolio

69 stocks — Apr 2026

#	Stock	Sector	Weight & Value
1	ICICI Bank Limited ₹60.01 Cr	Banks	5.22%
2	Reliance Industries Limited ₹57.48 Cr	Petroleum Products	5.00%
3	MTAR Technologies Limited ₹38.03 Cr	Aerospace & Defense	3.31%
4	HDFC Bank Limited ₹38.09 Cr	Banks	3.31%
5	Multi Commodity Exchange of India Limited ₹37.44 Cr	Capital Markets	3.26%
6	Bharat Electronics Limited ₹29.08 Cr	Aerospace & Defense	2.53%
7	ICICI Prudential Asset Management Company Limited ₹28.00 Cr	Capital Markets	2.44%
8	Hindalco Industries Limited ₹27.98 Cr	Non - Ferrous Metals	2.44%
9	Hindustan Aeronautics Limited ₹27.68 Cr	Aerospace & Defense	2.41%
10	Power Finance Corporation Limited ₹27.05 Cr	Finance	2.35%
11	Larsen & Toubro Limited ₹26.69 Cr	Construction	2.32%
12	GE Vernova T&D India Limited ₹26.35 Cr	Electrical Equipment	2.29%
13	Ahluwalia Contracts (India) Limited ₹24.49 Cr	Construction	2.13%
14	State Bank of India ₹24.45 Cr	Banks	2.13%
15	RBL Bank Limited ₹23.90 Cr	Banks	2.08%
16	UltraTech Cement Limited ₹22.71 Cr	Cement & Cement Products	1.98%
17	Eternal Limited ₹22.05 Cr	Retailing	1.92%
18	Kotak Mahindra Bank Limited ₹21.14 Cr	Banks	1.84%
19	PNB Housing Finance Limited ₹20.35 Cr	Finance	1.77%
20	PB Fintech Limited ₹19.85 Cr	Financial Technology (Fintech)	1.73%
21	InterGlobe Aviation Limited ₹19.33 Cr	Transport Services	1.68%
22	TVS Motor Company Limited ₹17.46 Cr	Automobiles	1.52%
23	Swiggy Limited ₹17.23 Cr	Retailing	1.50%
24	PARADEEP PHOSPHATES LIMITED ₹16.78 Cr	Fertilizers & Agrochemicals	1.46%
25	ABB India Limited ₹16.34 Cr	Electrical Equipment	1.42%
26	Amber Enterprises India Limited ₹16.05 Cr	Consumer Durables	1.40%
27	Canara Robeco Asset Management Co Ltd/India ₹16.03 Cr	Capital Markets	1.39%
28	Motilal Oswal Financial Services Limited ₹16.01 Cr	Capital Markets	1.39%
29	Time Technoplast Limited ₹15.90 Cr	Industrial Products	1.38%
30	Blue Star Limited ₹15.60 Cr	Consumer Durables	1.36%
31	Electronics Mart India Limited ₹15.56 Cr	Retailing	1.35%
32	Nippon Life India Asset Management Limited ₹15.15 Cr	Capital Markets	1.32%
33	Piramal Finance Ltd ₹14.99 Cr	Finance	1.30%
34	Tata Steel Limited ₹14.80 Cr	Ferrous Metals	1.29%
35	Power Mech Projects Limited ₹13.19 Cr	Construction	1.15%
36	Titan Company Limited ₹12.72 Cr	Consumer Durables	1.11%
37	Prudent Corporate Advisory Services Limited ₹12.72 Cr	Capital Markets	1.11%
38	Gokaldas Exports Limited ₹12.42 Cr	Textiles & Apparels	1.08%
39	Titagarh Rail Systems Limited ₹12.36 Cr	Industrial Manufacturing	1.08%
40	Sobha Limited ₹11.78 Cr	Realty	1.03%
41	Jyoti CNC Automation Ltd ₹11.64 Cr	Industrial Manufacturing	1.01%
42	Gujarat Fluorochemicals Limited ₹11.38 Cr	Chemicals & Petrochemicals	0.99%
43	INDIAN HUME PIPE COMPANY LIMITED ₹10.90 Cr	N.A.	0.95%
44	Mold-Tek Packaging Limited ₹10.39 Cr	Industrial Products	0.90%
45	Tata Motors Ltd ₹10.25 Cr	Agricultural, Commercial & Construction Vehicles	0.89%
46	Wakefit Innovations Limited ₹10.16 Cr	Consumer Durables	0.88%
47	APL Apollo Tubes Limited ₹9.53 Cr	Industrial Products	0.83%
48	Meghmani Finechem Limited ₹9.28 Cr	Chemicals & Petrochemicals	0.81%
49	Pine Labs Limited ₹9.09 Cr	Financial Technology (Fintech)	0.79%
50	KEC International Limited ₹8.94 Cr	Construction	0.78%
51	Bansal Wire Industries Limited ₹8.89 Cr	Industrial Products	0.77%
52	INDO COUNT INDUSTRIES LIMITED ₹8.69 Cr	Textiles & Apparels	0.76%
53	Home First Finance Company India Limited ₹8.63 Cr	Finance	0.75%
54	Kajaria Ceramics Limited ₹8.40 Cr	Consumer Durables	0.73%
55	Cholamandalam Investment and Finance Company Ltd ₹8.28 Cr	Finance	0.72%
56	Devyani International Limited ₹8.10 Cr	Leisure Services	0.70%
57	Shadowfax Technologies Ltd. ₹8.02 Cr	Transport Services	0.70%
58	FSN E-Commerce Ventures Limited ₹7.94 Cr	Retailing	0.69%
59	Lenskart Solutions Limited ₹7.14 Cr	Retailing	0.62%
60	Aditya Birla Real Estate Limited ₹6.32 Cr	Paper, Forest & Jute Products	0.55%
61	Motherson Sumi Wiring India Limited ₹6.08 Cr	Auto Components	0.53%
62	Pitti Engineering Ltd ₹5.80 Cr	Industrial Manufacturing	0.50%
63	Bharat Bijlee Ltd. ₹5.51 Cr	Electrical Equipment	0.48%
64	Awfis Space Solutions Limited ₹5.27 Cr	Commercial Services & Supplies	0.46%
65	Amara Raja Energy & Mobility Ltd ₹5.26 Cr	Auto Components	0.46%
66	Ganesha Ecosphere Limited ₹4.71 Cr	Textiles & Apparels	0.41%
67	PNC Infratech Limited ₹4.19 Cr	Construction	0.36%
68	PG Electroplast Limited ₹3.60 Cr	Consumer Durables	0.31%
69	Hi-Tech Pipes Limited ₹2.40 Cr	Industrial Products	0.21%