Tata Business Cycle Fund
Tata Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
The fund is heavily positioned for cyclical recovery, with pronounced tilts toward banks, financials, and commodity-linked sectors like metals and power. The manager is aggressively rotating into infrastructure and energy plays—adding power and steel names while trimming consumer discretionary—signaling conviction that the business cycle is shifting toward capital-intensive, economically-sensitive businesses. The modest cash buildup and scale of position changes suggest tactical repositioning rather than defensive hedging.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹19.9603 | — | — | — | — | — | — |
| Regular Growth | ₹18.5111 | +3.68% | +0.74% | -3.04% | +1.57% | +16.25% | — |
| Direct IDCW | ₹19.9603 | — | — | — | — | — | — |
| Direct IDCW | ₹19.9603 | — | — | — | — | — | — |
| Regular IDCW | ₹18.5111 | — | — | — | — | — | — |
| Regular IDCW | ₹18.5111 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
56
Top 5 Weight
20.92%
Top 10 Weight
35.13%
Active Share
—
Large Cap
43.76%
Gini
0.327
What Changed2026-03-31 → 2026-04-30
Holdings: 54 → 59+6 added−1 removed24 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| BHARAT HEAVY ELECTRICALS LTD | 1.00% |
| NHPC LTD | 0.50% |
| TALWANDI SABO POWER LTD | 0.34% |
| MALCO ENERGY LTD | 0.34% |
| VEDANTA IRON AND STEEL LTD | 0.34% |
| VEDANTA ALUMINIUM METAL LTD | 0.34% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | RELIANCE INDUSTRIES LTD INE002A01018 | 5.29% |
| 2 | HDFC BANK LTD INE040A01034 | 4.25% |
| 3 | JINDAL STEEL LTD INE749A01030 | 3.87% |
| 4 | METROPOLIS HEALTHCARE LTD INE112L01020 | 3.77% |
| 5 | AXIS BANK LTD INE238A01034 | 3.74% |
| 6 | CASH / NET CURRENT ASSET | 3.40% |
| 7 | LARSEN & TOUBRO LTD INE018A01030 | 3.08% |
| 8 | L&T FINANCE LTD INE498L01015 | 2.94% |
| 9 | DELHIVERY LTD INE148O01028 | 2.90% |
| 10 | CUMMINS INDIA LTD INE298A01020 | 2.66% |
| 11 | AMBUJA CEMENTS LTD INE079A01024 | 2.63% |
| 12 | LUPIN LTD INE326A01037 | 2.38% |
| 13 | PB FINTECH LTD INE417T01026 | 2.36% |
| 14 | APOLLO HOSPITALS ENTERPRISE LTD INE437A01024 | 2.31% |
| 15 | GODREJ PROPERTIES LTD INE484J01027 | 2.16% |
| 16 | TATA STEEL LTD INE081A01020 | 2.13% |
| 17 | ADANI ENERGY SOLUTIONS LTD INE931S01010 | 2.11% |
| 18 | SHRIRAM FINANCE LTD INE721A01047 | 2.05% |
| 19 | NIVA BUPA HEALTH INSURANCE COMPANY LTD INE995S01015 | 2.02% |
| 20 | ADANI POWER LTD INE814H01029 | 2.00% |
Sector Allocation
Banks12.9%
Finance8.0%
Healthcare Services7.5%
Cement & Cement Products6.7%
Power6.4%
Ferrous Metals6.3%
Petroleum Products5.3%
Insurance5.0%
Construction4.5%
Financial Technology (Fintech)3.7%
Top 10 sectors by % to NAV. Excludes derivatives.