Mahindra Manulife Business Cycle Fund
Monthly portfolio · 24 months through Sep-2026
compared to Aug-2026 · as on September 30, 2026
Holdings
68
Scheme AUM
₹1,291 cr
New
6
Exited
5
Increased
5
Reduced
6
| Change | Security | Industry / Rating | Quantity | Δ Qty | % to NAV | Δ % | Market value |
|---|---|---|---|---|---|---|---|
| — | Reliance Industries Limited INE002A01018 | Petroleum Products | 4,18,860 | — | 3.85% | -0.07pp | ₹49.72 cr |
| — | Grasim Industries Limited INE047A01021 | Cement & Cement Products | 1,35,000 | — | 3.20% | -0.14pp | ₹41.34 cr |
| — | ICICI Bank Limited INE090A01021 | Banks | 3,00,000 | — | 3.07% | -0.13pp | ₹39.65 cr |
| — | JSW Energy Limited INE121E01018 | Power | 7,94,000 | — | 3.04% | +0.01pp | ₹39.28 cr |
| — | Axis Bank Limited INE238A01034 | Banks | 2,85,000 | — | 2.71% | -0.01pp | ₹34.94 cr |
| Increased | Bandhan Bank Limited INE545U01014 | Banks | 18,26,000 | +2,60,000 | 2.52% | +0.64pp | ₹32.54 cr |
| — | IndusInd Bank Limited INE095A01012 | Banks | 3,59,474 | — | 2.51% | -0.17pp | ₹32.4 cr |
| — | Adani Enterprises Limited INE423A01024 | Metals & Minerals Trading | 1,10,000 | — | 2.47% | +0.16pp | ₹31.94 cr |
| — | Indus Towers Limited INE121J01017 | Telecom - Services | 8,00,000 | — | 2.31% | +0.03pp | ₹29.86 cr |
| — | Bajaj Auto Limited INE917I01010 | Automobiles | 26,733 | — | 2.25% | -0.13pp | ₹29.07 cr |
| — | Tech Mahindra Limited INE669C01036 | IT - Software | 1,86,715 | — | 2.20% | -0.03pp | ₹28.46 cr |
| — | Divi's Laboratories Limited INE361B01024 | Pharmaceuticals & Biotechnology | 30,000 | — | 2.16% | +0.08pp | ₹27.87 cr |
| — | IDFC First Bank Limited INE092T01019 | Banks | 32,00,000 | — | 2.02% | — | ₹26.06 cr |
| — | Vodafone Idea Limited INE669E01016 | Telecom - Services | 1,92,02,548 | — | 1.93% | -0.09pp | ₹24.87 cr |
| — | Ajanta Pharma Limited INE031B01049 | Pharmaceuticals & Biotechnology | 66,686 | — | 1.87% | +0.11pp | ₹24.15 cr |
| — | Adani Energy Solutions Limited INE931S01010 | Power | 1,76,000 | — | 1.79% | -0.04pp | ₹23.14 cr |
| — | The Ramco Cements Limited INE331A01037 | Cement & Cement Products | 2,70,000 | — | 1.77% | +0.03pp | ₹22.83 cr |
| Increased | Steel Authority of India Limited INE114A01011 | Ferrous Metals | 12,00,000 | +3,00,000 | 1.69% | +0.40pp | ₹21.78 cr |
| — | Kajaria Ceramics Limited INE217B01036 | Consumer Durables | 1,67,666 | — | 1.60% | +0.07pp | ₹20.71 cr |
| — | Glenmark Pharmaceuticals Limited INE935A01035 | Pharmaceuticals & Biotechnology | 86,738 | — | 1.57% | -0.01pp | ₹20.25 cr |
| — | NTPC Limited INE733E01010 | Power | 6,23,333 | — | 1.56% | +0.06pp | ₹20.12 cr |
| — | Carborundum Universal Limited INE120A01034 | Industrial Products | 1,60,602 | — | 1.56% | +0.26pp | ₹20.12 cr |
| — | Bajaj Finance Ltd INE296A01032 | Finance | 2,06,670 | — | 1.54% | -0.06pp | ₹19.83 cr |
| — | Maruti Suzuki India Limited INE585B01010 | Automobiles | 16,000 | — | 1.48% | -0.11pp | ₹19.15 cr |
| — | Coal India Limited INE522F01014 | Consumable Fuels | 4,49,211 | — | 1.48% | +0.16pp | ₹19.09 cr |
| — | Zydus Lifesciences Limited INE010B01027 | Pharmaceuticals & Biotechnology | 1,63,722 | — | 1.47% | +0.08pp | ₹19.02 cr |
| — | Ambuja Cements Limited INE079A01024 | Cement & Cement Products | 5,00,000 | — | 1.45% | -0.02pp | ₹18.7 cr |
| — | Vedanta Aluminium Metal Limited INE1CDF01017 | Non - Ferrous Metals | 4,50,000 | — | 1.44% | — | ₹18.58 cr |
| — | REC Limited INE020B01018 | Finance | 6,20,000 | — | 1.44% | -0.03pp | ₹18.54 cr |
| New | HBL Engineering Limited INE292B01021 | Industrial Products | 2,31,380 | — | 1.42% | — | ₹18.38 cr |
| — | Asahi India Glass Limited INE439A01020 | Auto Components | 1,89,920 | — | 1.41% | +0.08pp | ₹18.21 cr |
| — | Cochin Shipyard Limited INE704P01025 | Industrial Manufacturing | 1,36,361 | — | 1.39% | -0.12pp | ₹17.93 cr |
| — | Shriram Finance Limited INE721A01047 | Finance | 1,80,000 | — | 1.37% | -0.09pp | ₹17.69 cr |
| — | Biocon Limited INE376G01013 | Pharmaceuticals & Biotechnology | 4,62,500 | — | 1.33% | -0.07pp | ₹17.13 cr |
| — | CEAT Limited INE482A01020 | Auto Components | 50,925 | — | 1.29% | +0.01pp | ₹16.62 cr |
| — | JSW Steel Limited INE019A01038 | Ferrous Metals | 1,30,000 | — | 1.26% | +0.01pp | ₹16.29 cr |
| Increased | Sagility Limited INE0W2G01015 | IT - Services | 38,21,008 | +8,00,000 | 1.26% | +0.22pp | ₹16.27 cr |
| — | LMW Limited INE269B01029 | Industrial Manufacturing | 9,185 | — | 1.20% | -0.08pp | ₹15.49 cr |
| — | Deepak Fertilizers and Petrochemicals Corporation Limited INE501A01019 | Chemicals & Petrochemicals | 1,11,252 | — | 1.16% | +0.01pp | ₹15.03 cr |
| — | Supreme Petrochem Limited INE663A01033 | Chemicals & Petrochemicals | 1,85,430 | — | 1.16% | +0.17pp | ₹14.99 cr |
| New | Finolex Cables Limited INE235A01022 | Industrial Products | 98,443 | — | 1.11% | — | ₹14.28 cr |
| — | Manappuram Finance Limited INE522D01027 | Finance | 4,50,000 | — | 1.10% | -0.02pp | ₹14.21 cr |
| — | Kirloskar Brothers Limited INE732A01036 | Industrial Products | 80,066 | — | 1.10% | -0.02pp | ₹14.21 cr |
| — | Hindalco Industries Limited INE038A01020 | Non - Ferrous Metals | 1,50,000 | — | 1.09% | -0.03pp | ₹14.13 cr |
| Reduced | Anthem Biosciences Limited INE0CZ201020 | Pharmaceuticals & Biotechnology | 1,60,004 | -1,00,000 | 1.06% | -0.64pp | ₹13.74 cr |
| Reduced | CESC Limited INE486A01021 | Power | 10,23,186 | -1,96,429 | 1.06% | -0.25pp | ₹13.7 cr |
| — | Punjab National Bank INE160A01022 | Banks | 12,00,000 | — | 1.05% | +0.05pp | ₹13.57 cr |
| — | Ujjivan Small Finance Bank Limited INE551W01018 | Banks | 20,00,000 | — | 1.05% | +0.04pp | ₹13.5 cr |
| New | HEG Advanced Materials Ltd INE545A01024 | Industrial Products | 5,60,533 | — | 1.03% | — | ₹13.32 cr |
| — | MphasiS Limited INE356A01018 | IT - Software | 57,000 | — | 0.95% | -0.06pp | ₹12.28 cr |
| — | Dalmia Bharat Limited INE00R701025 | Cement & Cement Products | 70,000 | — | 0.91% | -0.04pp | ₹11.79 cr |
| New | Jindal Saw Ltd INE324A01032 | Industrial Products | 4,24,000 | — | 0.91% | — | ₹11.77 cr |
| New | Graphite India Limited INE371A01025 | Industrial Products | 1,50,000 | — | 0.89% | — | ₹11.47 cr |
| Reduced | S. P. Apparels Limited INE212I01016 | Textiles & Apparels | 1,14,924 | -238 | 0.86% | -0.03pp | ₹11.09 cr |
| — | K.P.R. Mill Limited INE930H01031 | Textiles & Apparels | 1,00,000 | — | 0.85% | -0.01pp | ₹11.03 cr |
| — | Sarda Energy and Minerals Limited INE385C01021 | Ferrous Metals | 2,20,000 | — | 0.85% | +0.05pp | ₹10.94 cr |
| — | Mazagon Dock Shipbuilders Limited INE249Z01020 | Industrial Manufacturing | 50,000 | — | 0.82% | -0.09pp | ₹10.57 cr |
| — | Elecon Engineering Company Limited INE205B01031 | Electrical Equipment | 2,20,071 | — | 0.79% | +0.13pp | ₹10.16 cr |
| — | Tata Consumer Products Limited INE192A01025 | Agricultural Food & other Products | 1,00,000 | — | 0.74% | -0.02pp | ₹9.5 cr |
| — | Bank of Baroda INE028A01039 | Banks | 4,00,000 | — | 0.71% | +0.01pp | ₹9.22 cr |
| Increased | Garware Hi-Tech Films Limited INE291A01017 | Industrial Products | 12,767 | +8,838 | 0.69% | +0.48pp | ₹8.96 cr |
| — | Foseco India Limited INE519A01011 | Chemicals & Petrochemicals | 12,024 | — | 0.60% | +0.03pp | ₹7.77 cr |
| Increased | Triveni Engineering & Industries Limited INE256C01024 | Agricultural Food & other Products | 3,03,176 | +1,50,000 | 0.55% | +0.22pp | ₹7.15 cr |
| — | Garden Reach Shipbuilders & Engineers Limited INE382Z01011 | Aerospace & Defense | 30,000 | — | 0.51% | -0.05pp | ₹6.55 cr |
| Reduced | Gokaldas Exports Limited INE887G01027 | Textiles & Apparels | 75,392 | -88,813 | 0.40% | -0.54pp | ₹5.19 cr |
| Reduced | NOCIL Limited INE163A01018 | Chemicals & Petrochemicals | 2,69,953 | -3,17,546 | 0.36% | -0.38pp | ₹4.62 cr |
| Reduced | NMDC Limited INE584A01023 | Minerals & Mining | 5,00,000 | -10,00,000 | 0.30% | -0.67pp | ₹3.83 cr |
| New | Smartworks Coworking Spaces Ltd INE0NAZ01010 | Commercial Services & Supplies | 57,555 | — | 0.23% | — | ₹2.99 cr |
| Exited | Infosys Limited INE009A01021 | IT - Software | — | -2,62,703 | — | -2.18pp | — |
| Exited | The Federal Bank Limited INE171A01029 | Banks | — | -4,20,000 | — | -1.10pp | — |
| Exited | Tega Industries Limited INE011K01018 | Industrial Manufacturing | — | -55,165 | — | -0.64pp | — |
| Exited | GAIL (India) Limited INE129A01019 | Gas | — | -4,55,226 | — | -0.59pp | — |
| Exited | Aurobindo Pharma Limited INE406A01037 | Pharmaceuticals & Biotechnology | — | -36,132 | — | -0.45pp | — |
Cash & other
| Triparty Repo | 1.70% | ₹21.94 cr |
| Margin placed with CCIL & ARCL | 0.02% | ₹0.25 cr |
| Net Receivables / (Payables) | 1.46% | ₹18.88 cr |
| Net Receivables / (Payables) | 1.53% | ₹19.13 cr |