Blending Equity, Debt & Arbitrage

by Hansraj Agrawal | Feb 21, 2026 | Share Market

In an environment where investors seek the benefits of equity taxation without fully embracing equity market volatility, equity savings funds offer a balanced solution.

These hybrid schemes typically allocate across three avenues — equities, debt and arbitrage — with roughly 30–35 per cent in each segment.

By combining cash equity and arbitrage positions, they maintain over 65 per cent exposure to equity instruments, thereby qualifying for favourable equity taxation. This structure makes them particularly appealing to conservative investors who aspire for returns superior to traditional fixed income, yet prefer to avoid the sharper swings associated with pure equity funds.

Mirae Asset Equity Savings Fund has now completed seven years, making it eligible for inclusion in the bl.portfolio Star Track MF Rating process. In the latest edition, the fund has secured a 4-star rating under the framework. Since its launch in December 2018, it has delivered a compounded annualised growth rate (CAGR) of 11.3 per cent.

Asset allocation

The fund operates with a defined structure that blends cash equities, arbitrage strategies and high-quality debt to deliver relatively stable returns with moderated downside risk. It typically maintains net equity exposure in the 37–38 per cent range, within a historical band of 36 to 45 per cent. Gross equity exposure is kept above 65 per cent by combining cash equity with arbitrage positions. The arbitrage component is primarily used to bridge the gap between net equity and the 65 per cent threshold, rather than to actively chase arbitrage spreads.

Changes in net equity exposure within the permitted range are guided by a valuation framework that compares prevailing market price-to-earnings and price-to-book ratios with their long-term averages over the past 12–13 years. Currently, the allocation stands at about 40 per cent in cash equity, 25 per cent in arbitrage and 35 per cent in debt.

Portfolio strategy

Within the equity portion, stock selection is anchored in sustainable double-digit revenue growth visibility over four to five years, return on capital employed above 12–12.5 per cent post-tax, rigorous assessment of management quality and balance sheet strength, and discounted cash flow-based valuation approach. The portfolio broadly follows an 80–85 per cent growth and 15–20 per cent value orientation, with a core-plus-tactical overlay and a minimum three-year investment horizon.

Sectorally, the fund is overweight in private financials, pharma, consumption excluding staples, select auto names, cement and telecom, while remaining underweight in capital goods, infrastructure and IT services. The constructive stance on consumption is supported by policy measures such as tax reductions and lower EMIs, which the fund manager believes are gradually translating into improved demand conditions.

The fund maintains a clear large-cap bias, with at least 60 per cent of the equity allocation typically invested in large-cap stocks. Currently, this proportion is closer to 72–73 per cent, reinforcing stability within the equity sleeve.

The arbitrage allocation is mechanically calibrated to ensure the scheme maintains at least 65 per cent gross equity exposure to qualify for equity taxation. The equities deployed for arbitrage trades are entirely separate from the long (cash) equity portfolio and are not influenced by the stocks held in the core investment book. These arbitrage positions are designed to exploit price differentials between the cash and futures markets, thereby generating relatively low-risk, market-neutral returns rather than directional equity gains.

On the debt side, the mandate focuses on G-secs and high-quality corporate bonds, with a modified duration of less than four years, emphasising capital stability over yield enhancement. Over the past three years, the portfolio’s modified duration has ranged between 1.8 and 3.5 years. As of January 2026, it stands at 2.7 years. The latest portfolio shows around 11 per cent in AAA-rated corporate bonds, 7 per cent in papers rated AA+/AA and 10 per cent in G-secs. Among the AA-rated exposures are names such as Piramal Finance, Muthoot Finance and Torrent Pharmaceuticals.

Performance

Performance, measured through three-year rolling returns over the past seven years, indicates that the fund delivered an average three-year CAGR of 11.3 per cent, outperforming the category average of 9.5 per cent. During this period, three-year returns ranged between 8.4 per cent and 17.4 per cent, and in nearly 84 per cent of the observations, the fund delivered returns above 10 per cent.

The regular plan carries an expense ratio of 1.4 per cent, lower than the category average of 1.7 per cent, while the direct plan’s expense ratio stands at 0.4 per cent, below the category average of 0.7 per cent.

The fund is suitable for cautious investors seeking relatively lower drawdowns and for those looking to park surplus funds for a two- to four-year horizon while benefiting from equity taxation.

Published on February 21, 2026

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NSE to cut response time to nanoseconds, targets 100 mn trades per second

by Hansraj Agrawal | Feb 21, 2026 | Share Market

The National Stock Exchange of India (NSE) will reduce its system response time to nanoseconds from April 11, a move that will allow the bourse to handle close to 100 million transactions per second, Managing Director and Chief Executive Officer Ashishkumar Chauhan said on Saturday.

NSE’s current response time is around 100 microseconds, enabling processing of roughly 50–60 lakh transactions per second. One second equals a million microseconds, while one nanosecond is a billionth of a second.

“We are going to give you response time in nanoseconds. Your speed is going to increase manifold — almost 1,000 times from what you are experiencing currently from NSE,” Chauhan said, adding, “We are real-time finance.”

He was speaking at an event organised by the Association of NSE Members of India (ANMI).

How will NSE’s nanosecond upgrade boost trading capacity?

As trading activity intensifies across segments, the enhanced processing capability is expected to help the exchange manage significantly higher transaction volumes with lower latency.

However, Chauhan also cautioned that higher speeds increase cyber risks and urged brokers and vendors to strengthen their cyber security frameworks.

“Ours is an unbelievable scale; not many people can understand. And that also brings me to the issue of cyber security. All this can come to a grinding halt if we are not able to handle cyber security. All vendors must ensure that cyber security is of paramount importance,” he said.

What is NSE doing to expand infrastructure and new products?

To support rising demand, NSE is expanding its colocation infrastructure. It currently operates over 2,000 colo racks, with the capacity to scale up to around 4,500 racks.

Colocation services allow trading members to place their servers within the exchange’s data centre, enabling faster access to market data and order execution by reducing network latency. These services are widely used by high-frequency and institutional traders.

Chauhan also said the use of artificial intelligence could help vendors deliver more efficient solutions at lower costs.

Separately, NSE is expanding into newer asset classes with products such as electricity futures and gold futures. Chauhan said contracts for difference (CFDs) are also under development, while 10 gm gold futures will soon be available for trading on the exchange. The 10 gm gold futures have recently received approval from market regulator Securities and Exchange Board of India (Sebi).

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Mutual Funds returns

by Hansraj Agrawal | Feb 21, 2026 | Share Market

EQUITY – LARGE & MID CAP FUNDS

Bandhan Large & Mid Cap Fund

137.9

13968

1.7

0.5

15.6

23.3

19.4

17.4

0.64

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

38.2

1329

2.0

0.7

12.6

18.6

18.5

–

0.52

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BNP Paribas Balanced Advantage Fund

25.2

4672

1.9

0.8

14.0

14.2

11.7

–

0.50

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

107.4

1909

2.1

0.8

8.5

16.0

13.5

17.3

0.43

EQUITY – LARGE CAP FUNDS

Canara Robeco Large Cap Fund

63.6

17092

1.7

0.5

10.6

15.1

12.2

15.4

0.43

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

144.3

17223

1.6

0.7

14.0

20.6

17.1

17.5

0.60

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

26.2

1223

1.6

0.6

9.7

11.4

9.2

9.5

0.77

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

103.2

13802

1.7

0.4

17.5

25.7

21.5

19.8

0.65

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

531.2

106821

1.4

0.8

10.9

17.9

17.1

16.6

0.89

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

2079.9

97452

1.3

0.7

15.9

22.2

20.4

18.7

0.83

EQUITY – FOCUSED FUNDS

HDFC Focused Fund

240.4

26332

1.6

0.6

15.4

21.8

21.6

16.8

0.92

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

343.4

28240

1.6

0.8

13.6

20.2

18.5

16.4

0.64

EQUITY – MID CAP FUNDS

HDFC Mid Cap Fund

202.7

92187

1.4

0.7

18.6

25.9

22.9

19.7

0.79

EQUITY – VALUE FUNDS

HSBC Value Fund

114.1

14552

1.7

0.7

18.6

23.1

20.1

17.8

0.63

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

54.8

6371

1.8

0.6

15.1

22.8

18.0

0.92

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

409.1

49257

1.5

0.9

14.5

19.1

17.0

0.97

EQUITY – FOCUSED FUNDS

ICICI Prudential Focused Equity Fund

95.9

14935

1.7

0.6

19.3

23.0

19.0

17.0

0.70

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

ICICI Prudential Infrastructure Fund

197.5

8077

1.9

1.2

15.5

25.3

26.7

19.6

0.96

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

1038.4

27445

1.6

0.8

14.6

21.3

20.3

17.3

0.80

EQUITY – LARGE CAP FUNDS

ICICI Prudential Large Cap Fund

113.5

76646

1.4

0.9

13.3

18.0

15.6

16.0

0.60

EQUITY – SECTOR – PHARMA FUNDS

ICICI Prudential Pharma Healthcare and Diagnostics (P.H.D) Fund

37.9

6658

1.9

1.0

6.4

26.4

16.9

–

0.57

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

77.9

3334

1.7

1.0

8.4

10.2

8.7

9.9

0.99

EQUITY – VALUE FUNDS

ICICI Prudential Value Fund

488.9

60353

1.5

1.0

14.6

20.5

20.3

17.0

0.90

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

95.4

5152

1.8

0.6

4.6

19.9

17.4

17.9

0.54

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

59.4

3044

1.7

0.5

6.2

10.0

8.9

9.8

0.75

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

187.9

2521

2.0

0.6

3.1

14.9

15.9

14.1

0.53

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

93.0

50107

1.5

0.7

14.4

19.1

17.5

16.3

0.64

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

162.9

65812

1.4

0.7

10.3

20.8

23.5

21.6

0.64

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

85.0

133970

1.3

0.6

7.5

20.0

17.5

18.3

0.71

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Aggressive Hybrid Fund

426.0

1958

2.1

0.8

13.4

13.3

16.5

16.1

0.56

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

370.3

11736

1.7

0.8

14.4

17.6

19.4

20.9

0.53

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Quant Infrastructure Fund

36.7

2791

2.0

0.8

8.7

18.6

23.3

19.8

0.58

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

196.1

7283

1.8

0.8

-2.0

14.3

19.9

16.4

0.54

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

239.1

27384

1.6

0.8

6.1

19.0

24.7

18.3

0.61

EQUITY – TAX SAVING (ELSS) FUNDS

SBI ELSS Tax Saver Fund

447.5

31862

1.6

0.9

11.4

23.7

19.3

16.5

0.70

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

198.9

5056

1.9

0.9

-6.1

10.2

13.9

16.3

0.43

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

71.7

1195

2.2

0.7

7.5

11.3

10.1

9.9

0.66

EQUITY – SECTOR – BANKING FUNDS

Sundaram Financial Services Opportunities Fund

111.6

1676

2.1

0.8

22.3

20.4

14.8

17.4

0.45

EQUITY – FOCUSED FUNDS

360 ONE Focused Fund

47.0

6853

1.8

0.8

8.6

15.3

14.2

17.2

0.45

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

109.6

8899

1.8

0.7

12.1

13.2

10.7

12.1

0.63

EQUITY – LARGE & MID CAP FUNDS

Axis Large & Mid Cap Fund

33.2

15287

1.7

0.6

12.5

19.4

15.9

–

0.48

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

102.9

25517

1.6

0.6

11.2

17.5

19.5

19.0

0.60

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

156.0

7060

1.8

0.7

12.6

15.8

15.9

16.6

0.54

EQUITY – VALUE FUNDS

Bandhan Value Fund

150.0

10104

1.8

0.7

10.5

17.3

18.8

17.4

0.65

EQUITY – TAX SAVING (ELSS) FUNDS

Bank of India ELSS Tax Saver

161.1

1374

2.0

0.8

12.5

17.7

15.5

17.2

0.42

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

BOI AXA Manufacturing & Infra

59.4

661

2.2

0.6

21.2

24.8

22.8

19.0

0.64

EQUITY – SMALL CAP FUNDS

Bank of India Small Cap Fund

44.0

1829

2.0

0.5

8.6

19.1

19.6

–

0.49

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BNP Paribas Aggressive Hybrid Fund

28.1

1243

2.1

0.5

8.9

14.2

11.8

–

0.46

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BNP Paribas India Consumption Fund

30.7

1440

2.1

0.6

5.1

15.4

13.3

–

0.41

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

178.5

8721

1.7

0.6

13.0

15.6

13.1

16.2

0.44

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Canara Robeco Infrastructure Fund

164.6

878

2.3

1.0

20.5

26.0

23.4

17.5

0.69

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

37.1

2971

1.9

0.7

-2.3

20.2

13.9

–

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

64.4

3453

1.9

0.4

10.8

16.5

14.8

13.7

0.66

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

52.4

13116

1.6

0.5

10.7

12.7

10.5

11.6

0.50

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

39.3

3133

1.9

0.4

14.6

19.0

15.7

16.4

0.51

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Franklin Build India Fund

149.5

3003

2.0

1.0

21.1

28.1

23.9

19.5

0.73

EQUITY – DIVIDEND YIELD FUNDS

Franklin India Dividend Yield Fund

141.2

2417

2.1

1.3

7.0

17.0

17.7

16.9

0.81

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1646.5

19528

1.7

0.9

10.6

18.7

16.1

15.1

0.54

EQUITY – FOCUSED FUNDS

Franklin India Focused Equity Fund

107.8

12255

1.8

1.0

9.5

15.8

14.9

15.6

0.51

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1442.3

16749

1.7

1.1

13.4

21.2

19.5

16.2

0.80

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

68.0

5837

1.9

0.9

8.8

10.5

9.6

10.4

0.73

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

83.7

3322

1.8

1.2

6.5

9.9

9.1

9.5

0.88

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1167.1

39621

1.6

1.0

10.7

15.9

14.4

15.3

0.54

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

77.3

70343

1.4

0.9

13.0

13.5

11.7

12.3

0.90

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

181.3

15439

1.7

1.0

-10.3

8.6

11.7

16.5

0.35

EQUITY – SECTOR – BANKING FUNDS

Invesco India Financial Services Fund

147.1

1628

2.1

0.8

24.5

22.9

15.7

17.8

0.44

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

179.8

10058

1.7

0.5

20.1

26.8

21.0

19.5

0.60

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

41.3

9009

1.7

0.4

14.0

24.1

22.2

–

0.59

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

117.8

753

2.3

0.8

4.8

17.3

15.0

13.1

0.55

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

47.9

216

2.4

1.0

9.5

18.6

15.3

17.0

0.47

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

156.7

444

2.4

0.9

11.2

15.3

13.2

12.5

0.42

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Aggressive Hybrid Fund

63.7

8431

1.7

0.5

13.2

15.3

13.6

14.3

0.57

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

27.1

9619

1.8

0.7

9.8

11.4

10.0

9.7

0.79

EQUITY – LARGE CAP FUNDS

Kotak Large Cap Fund

587.7

10864

1.7

0.6

13.7

15.4

13.1

14.3

0.46

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

34.1

4267

1.9

0.5

15.7

24.8

21.3

–

0.62

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

50.2

26112

1.6

0.6

16.0

17.6

14.4

18.7

0.49

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

21.0

1887

1.4

0.3

11.4

11.7

9.8

–

0.66

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

90.2

4386

1.8

0.4

8.6

16.3

15.2

16.8

0.45

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

91.7

34432

1.6

0.8

-1.7

22.3

23.3

17.5

0.65

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Financial Services Fund

671.7

7753

1.8

1.0

22.5

20.0

16.7

0.52

EQUITY – MID CAP FUNDS

Nippon India Growth Mid Cap Fund

4307.8

41727

1.5

0.7

19.1

26.2

22.7

20.1

0.70

EQUITY – VALUE FUNDS

Nippon India Value Fund

230.4

8962

1.8

1.1

12.4

22.8

19.0

17.5

0.62

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

36.0

6022

1.8

0.5

10.5

12.9

12.1

15.1

0.37

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

107.9

3039

2.0

0.8

1.6

14.8

16.6

16.4

0.46

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

74.7

9761

1.5

1.1

8.7

10.0

9.2

0.91

EQUITY – FOCUSED FUNDS

SBI Focused Fund

375.6

42998

1.5

0.7

17.3

19.4

14.7

16.0

0.54

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

653.2

37497

1.6

0.7

17.2

18.9

17.7

16.7

0.65

EQUITY – LARGE CAP FUNDS

SBI Large Cap Fund

95.4

54821

1.5

0.8

13.6

14.5

12.5

13.8

0.46

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

51.6

2320

2.0

0.9

13.2

15.8

13.7

14.6

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

413.8

6654

1.9

1.2

10.0

16.3

14.8

13.6

0.67

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

19.0

820

1.7

0.7

8.5

10.8

9.7

–

0.78

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

184.9

5615

1.9

0.9

14.0

22.0

18.7

15.8

0.66

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

64.8

3641

2.0

1.0

23.4

18.0

13.0

16.0

0.36

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life Consumption Fund

210.8

6141

1.8

0.8

8.2

15.0

13.5

15.8

0.42

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1862.6

24700

1.7

0.9

16.3

18.4

14.6

15.9

0.47

EQUITY – FOCUSED FUNDS

Aditya Birla Sun Life Focused Fund

148.3

8068

1.8

0.9

15.4

17.6

14.0

14.5

0.49

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Large Cap Fund

534.2

30392

1.6

1.0

12.2

15.5

13.2

13.9

0.47

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

69.1

1533

1.8

0.9

8.9

9.4

8.4

9.2

0.80

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

21.5

3773

1.9

0.7

9.1

14.5

10.8

–

0.58

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

22.7

905

2.3

1.1

7.5

10.2

8.2

9.0

0.46

EQUITY – MID CAP FUNDS

Axis Midcap Fund

113.3

30895

1.6

0.6

14.8

19.3

16.1

17.9

0.48

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

27.0

1632

2.1

0.6

17.0

16.4

13.7

–

0.52

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

211.1

7478

1.9

1.1

12.2

15.9

13.7

12.6

0.44

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Bandhan Infrastructure Fund

47.5

1428

2.1

0.9

8.8

23.6

21.5

17.3

0.56

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

79.1

1980

2.0

0.9

14.8

17.5

13.1

14.2

0.42

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

89.9

446

2.3

1.1

15.3

17.0

15.5

14.1

0.47

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BNP Paribas ELSS Tax Saver Fund

98.3

911

2.2

1.0

14.3

19.3

13.6

13.9

0.42

EQUITY – LARGE CAP FUNDS

Baroda BNP Paribas Large Cap Fund

224.6

2614

2.0

0.8

11.2

16.1

13.1

14.1

0.44

EQUITY – MID CAP FUNDS

Baroda BNP Paribas Mid Cap Fund

105.2

2282

2.0

0.5

15.7

21.4

18.4

16.8

0.58

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

97.4

893

1.9

0.8

5.9

8.0

6.9

8.3

0.52

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

367.7

11164

1.7

0.6

12.0

13.9

11.6

13.8

0.47

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

343.3

13327

1.7

0.6

13.4

15.5

13.1

15.8

0.44

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Large and Mid Cap Fund

247.1

24644

1.6

0.6

8.1

15.8

13.6

16.7

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

357.7

11861

1.7

0.7

8.1

15.5

11.9

13.6

0.47

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

28.4

3702

1.9

0.7

9.9

12.3

8.8

9.7

0.52

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

22.2

3856

1.5

0.7

6.3

10.0

8.7

–

0.71

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

103.9

11989

1.8

0.9

11.9

17.2

13.4

15.8

0.42

EQUITY – FOCUSED FUNDS

DSP Focused Fund

55.4

2611

2.0

1.0

12.0

18.8

13.4

13.8

0.43

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

DSP India T.I.G.E.R. Fund

325.0

5184

1.9

0.8

19.2

25.9

24.5

18.8

0.69

EQUITY – LARGE & MID CAP FUNDS

DSP Large & Mid Cap Fund

637.4

17434

1.7

0.6

13.8

20.8

16.7

17.1

0.58

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

60.0

183

1.2

0.5

7.5

9.9

7.9

7.6

0.68

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

194.6

16135

1.7

0.8

15.3

20.4

18.0

0.55

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

88.4

4442

1.8

0.4

13.7

18.6

15.4

16.0

0.51

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

86.4

1444

2.1

0.6

12.2

15.3

12.9

14.4

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Aggressive Hybrid Fund

271.7

2341

2.0

0.9

8.1

14.6

11.9

12.3

0.51

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Conservative Hybrid Fund

92.2

223

1.4

0.8

6.9

9.3

7.6

7.8

0.62

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1469.7

6440

1.8

1.1

8.9

18.3

15.7

14.3

0.52

EQUITY – LARGE CAP FUNDS

Franklin India Large Cap Fund

1038.7

7704

1.9

1.1

11.2

14.7

11.2

12.5

0.39

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

470.7

1938

2.1

1.1

-8.1

16.0

10.9

15.7

0.32

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

118.6

23821

1.7

1.0

8.7

11.5

11.6

12.9

0.52

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HDFC Infrastructure Fund

47.6

2366

2.1

1.2

15.9

27.3

23.9

14.0

0.73

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

134.3

36941

1.5

0.7

11.4

18.3

20.8

19.2

0.61

EQUITY – VALUE FUNDS

HDFC Value Fund

767.1

7487

1.8

1.0

16.5

20.0

16.7

15.8

0.56

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

43.6

1542

2.1

0.8

7.1

11.3

8.6

8.9

0.43

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

61.5

138

2.1

1.1

6.8

9.6

7.4

7.9

0.40

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

34.7

752

1.5

0.7

12.2

13.8

11.1

9.5

0.51

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

217.9

5318

1.9

1.2

12.9

18.8

14.9

14.6

0.43

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Financial Services Fund

138.4

10951

1.8

1.0

17.3

16.7

12.7

16.5

0.40

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

946.1

14245

1.7

1.1

12.8

16.8

14.1

14.6

0.50

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

319.8

6969

1.9

1.0

25.2

25.1

20.8

17.9

0.63

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

84.3

8123

1.8

0.8

10.4

16.8

19.0

16.8

0.64

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

53.6

1080

2.1

0.8

6.2

12.2

9.9

10.7

0.42

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Invesco India Infrastructure Fund

60.5

1333

2.1

0.8

12.4

23.0

21.3

18.0

0.56

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

99.2

8959

1.8

0.6

16.0

24.4

17.5

17.1

0.51

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

69.7

1666

2.0

0.7

13.5

17.4

14.0

0.45

EQUITY – VALUE FUNDS

JM Value Fund

93.7

885

2.3

1.1

5.4

19.3

17.2

18.0

0.52

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

21.0

17513

1.7

0.6

10.0

11.5

9.8

–

0.54

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

116.8

6301

1.8

0.6

12.5

15.8

14.8

15.9

0.48

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

87.9

56479

1.4

0.6

17.6

14.1

15.6

0.47

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Kotak Infra & Economic Reform

66.5

2252

2.0

0.7

18.9

20.1

22.1

17.2

0.62

EQUITY – LARGE & MID CAP FUNDS

Kotak Large & Midcap Fund

356.9

29991

1.6

0.6

17.9

19.9

17.3

0.58

EQUITY – MID CAP FUNDS

Kotak Midcap Fund

136.2

59041

1.4

0.4

17.2

21.4

19.5

19.3

0.61

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

244.8

16368

1.7

0.6

6.2

14.6

16.5

17.9

0.47

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

30.5

650

2.3

0.8

11.9

21.1

16.7

–

0.52

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

LIC MF Infrastructure Fund

50.4

946

2.3

1.0

21.6

28.7

23.6

18.0

0.63

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

28.6

938

2.2

0.6

11.8

14.3

13.9

–

0.47

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

21.3

556

2.4

0.7

9.4

10.4

8.8

–

0.49

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

33.5

9405

1.7

0.4

15.0

14.6

12.0

13.9

0.49

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

38.2

2640

1.9

0.5

8.4

23.0

15.5

–

0.47

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

154.8

42275

1.5

0.6

17.3

17.7

14.5

18.8

0.47

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

114.8

40371

1.5

0.5

12.6

13.3

11.5

14.9

0.39

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

48.9

4188

1.8

0.7

10.4

21.5

17.0

17.3

0.42

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

181.3

9598

1.7

0.6

10.1

12.9

10.8

12.2

0.62

EQUITY – FOCUSED FUNDS

Nippon India Focused Fund

122.3

8476

1.9

1.2

13.4

15.7

13.3

15.6

0.46

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

505.9

7875

1.8

0.9

7.4

23.0

15.3

14.1

0.47

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Large & Mid Cap Fund

1487.3

6751

1.9

1.2

13.2

21.2

17.2

14.7

0.58

EQUITY – MID CAP FUNDS

PGIM India Midcap Fund

62.8

10751

1.7

0.5

10.1

13.4

15.3

16.7

0.48

EQUITY – FOCUSED FUNDS

Quant Focused Fund

84.6

848

2.3

0.8

7.4

15.0

14.2

14.9

0.43

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

123.2

221

2.1

0.9

4.9

15.9

13.2

0.53

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Financial Services Fund

46.5

10415

1.8

0.7

26.7

22.6

14.4

18.9

0.42

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

292.0

2930

2.0

0.9

1.1

12.6

15.5

15.3

0.49

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

307.1

81242

1.4

0.7

12.8

15.0

12.0

13.0

0.55

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

24.5

5816

1.5

0.9

9.8

11.5

9.0

9.3

0.55

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

110.8

23148

1.7

0.8

10.1

13.7

11.6

14.0

0.40

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

421.0

3823

1.9

0.9

6.1

24.7

16.5

12.1

0.53

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

SBI Infrastructure Fund

49.4

4546

1.9

1.0

11.0

21.3

20.6

17.4

0.66

EQUITY – MID CAP FUNDS

SBI Midcap Fund

234.5

22424

1.7

0.9

9.6

17.1

17.2

15.7

0.59

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

163.1

7934

1.8

0.7

9.9

13.1

11.4

13.6

0.47

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

518.9

1348

2.2

1.5

12.5

15.7

14.1

15.8

0.48

EQUITY – FOCUSED FUNDS

Sundaram Focused Fund

160.2

1056

2.3

1.2

6.5

14.2

12.0

14.8

0.37

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1425.4

12917

1.7

0.9

18.3

24.9

20.0

16.7

0.61

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

255.1

3285

1.9

0.8

15.3

19.9

20.0

15.7

0.54

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Aggressive Hybrid Fund

444.6

4033

1.9

1.0

10.1

11.6

11.0

11.1

0.46

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Financial Services Fund

45.9

3213

1.9

0.5

23.8

18.6

13.2

17.5

0.38

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Fund

46.0

4566

1.8

0.7

14.8

16.6

14.0

15.5

0.45

HYBRID – EQUITY SAVINGS FUNDS

Tata Equity Savings Fund

56.4

285

1.1

0.6

6.9

9.8

8.0

8.1

0.67

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

24.5

3630

1.9

0.6

12.2

17.1

12.7

–

0.42

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

42.6

2532

2.0

0.8

5.1

17.1

14.8

16.6

0.42

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

518.3

2760

2.0

1.0

12.3

15.5

13.2

13.5

0.47

EQUITY – MID CAP FUNDS

Tata Mid Cap Fund

447.2

5356

1.8

0.7

17.8

22.2

18.5

17.7

0.58

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

34.7

10761

1.7

0.4

-2.0

14.1

19.2

–

0.56

EQUITY – VALUE FUNDS

Templeton India Value Fund

734.4

2265

2.1

0.9

11.9

18.2

17.9

16.3

0.64

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

20.7

1301

2.2

1.0

10.2

10.4

8.1

–

0.41

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

65.4

870

2.3

1.3

13.3

15.5

14.2

0.47

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

49.6

1697

2.1

1.0

18.8

19.7

19.1

16.7

0.48

EQUITY – VALUE FUNDS

Union Value Fund

29.0

367

2.5

1.3

15.9

18.8

15.8

–

0.54

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

70.3

1681

1.8

1.3

6.3

9.4

8.7

8.4

0.74

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

181.8

3880

2.0

1.4

11.7

20.0

17.2

15.9

0.62

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

56.8

683

2.5

1.6

7.7

14.8

12.1

12.6

0.34

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

275.7

12839

1.8

0.9

8.2

12.8

11.1

13.3

0.36

EQUITY – VALUE FUNDS

UTI Value Fund

170.7

9836

1.8

1.2

10.6

18.2

15.4

0.54

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

152.9

4723

1.9

0.8

-11.5

7.2

10.5

16.6

0.32

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

460.1

1524

2.2

1.4

10.0

19.0

19.1

14.6

0.63

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1548.4

7334

1.9

1.1

11.3

14.3

11.2

11.5

0.42

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

22.9

1047

1.0

0.5

9.3

9.7

7.2

8.5

0.36

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Aditya Birla Sun Life Infrastructure Fund

97.2

1075

2.3

1.4

19.1

22.2

19.6

16.1

0.55

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

789.7

6041

1.9

1.0

15.1

20.5

18.1

15.3

0.55

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Value Fund

127.6

6246

1.9

1.0

12.8

20.5

16.8

14.0

0.46

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

30.5

233

2.2

1.1

6.3

7.4

6.3

6.9

0.38

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

26.5

12639

1.7

0.7

12.9

15.2

10.8

–

0.30

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

24.7

2240

2.0

0.8

8.9

11.0

8.6

9.2

0.36

EQUITY – FOCUSED FUNDS

Bandhan Focused Fund

87.0

1994

2.1

0.8

9.7

19.0

12.7

14.2

0.38

HYBRID – BALANCED ADVANTAGE FUNDS

Bank of India Balanced Advantage Fund

25.8

144

2.3

1.2

11.9

11.2

10.4

7.9

0.43

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

50.9

379

2.4

0.8

21.2

18.9

11.9

15.1

0.33

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

45.6

816

2.0

0.5

7.0

8.5

6.6

7.6

0.43

EQUITY – FOCUSED FUNDS

Baroda BNP Paribas Focused Fund

21.6

678

2.3

0.5

10.3

13.5

11.6

–

0.31

EQUITY – LARGE CAP FUNDS

DSP Large Cap Fund

479.2

7163

1.8

0.9

9.8

17.8

13.5

0.48

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

113.7

440

2.3

0.7

14.5

16.8

13.6

0.44

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

16.8

673

1.1

0.4

6.5

8.5

7.5

–

0.49

EQUITY – LARGE & MID CAP FUNDS

Franklin India Large & Mid Cap Fund

188.5

3518

2.0

1.3

10.7

16.6

13.5

13.0

0.44

EQUITY – MID CAP FUNDS

Franklin India Mid Cap Fund

2733.0

12223

1.8

1.0

11.8

22.0

16.9

16.3

0.51

EQUITY – SMALL CAP FUNDS

Franklin India Small Cap Fund

162.4

12764

1.8

1.0

7.7

19.0

19.8

16.4

0.53

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

56.1

5430

1.9

0.8

14.8

15.4

11.5

11.9

0.35

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

135.1

3961

1.9

1.2

12.6

19.5

15.2

15.0

0.44

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

493.5

1885

2.1

1.3

13.0

15.8

12.1

14.3

0.37

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

76.3

15029

1.7

0.7

5.8

16.7

21.4

19.1

0.52

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

23.2

18078

1.0

0.5

7.1

8.4

7.7

8.7

1.14

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

21.8

800

2.2

0.7

5.8

15.1

11.3

–

0.42

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

119.7

2637

1.9

0.8

6.1

16.0

11.8

14.3

0.34

EQUITY – FOCUSED FUNDS

JM Focused Fund

19.8

284

2.4

0.8

10.3

17.5

13.8

15.4

0.39

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

38.4

2993

1.9

0.6

10.7

17.8

14.9

16.1

0.47

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

55.9

1434

2.2

1.1

10.8

11.9

10.0

12.2

0.30

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

21.9

512

2.4

0.7

6.5

14.9

13.2

–

0.41

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

57.4

13180

1.7

0.8

3.7

21.5

12.8

13.9

0.37

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

20.8

110

2.3

0.5

9.7

12.6

10.8

–

0.43

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

23.6

253

2.2

0.6

14.9

13.6

12.3

–

0.39

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Aggressive Hybrid Fund

107.3

4025

2.0

1.1

12.2

15.5

13.8

11.2

0.59

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

130.6

14881

1.7

1.0

14.6

18.2

16.1

12.8

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

34.0

731

2.3

0.8

6.8

11.6

12.5

13.9

0.43

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

161.9

34449

1.6

0.8

6.3

13.2

15.9

18.3

0.49

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

35.6

1705

2.1

0.6

8.5

10.9

9.0

8.5

0.43

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

92.5

1461

2.2

1.2

2.6

15.0

13.2

14.4

0.41

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Sundaram Infrastructure Advantage Fund

99.6

917

2.4

1.6

22.5

23.4

20.5

16.6

0.59

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

87.6

6735

1.8

0.7

14.7

17.2

14.8

15.5

0.46

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

29.7

1240

2.1

0.7

6.1

22.6

15.0

11.7

0.46

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Tata Infrastructure Fund

168.2

1928

2.1

1.2

12.3

18.9

19.2

16.6

0.52

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

506.5

8123

1.8

0.7

7.1

12.8

12.6

14.3

0.45

EQUITY – VALUE FUNDS

Tata Value Fund

355.1

8819

1.8

0.8

12.6

19.8

16.3

16.7

0.55

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

116.1

123

2.5

1.9

9.4

15.2

14.4

16.2

0.41

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

17.2

143

2.0

1.5

7.3

8.4

6.6

–

0.38

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

23.8

458

2.5

1.7

11.0

13.1

11.2

–

0.36

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Financial Services Fund

204.4

1400

2.1

1.1

23.9

18.6

13.2

14.5

0.38

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

205.7

3613

1.9

0.9

9.2

13.9

11.5

13.5

0.35

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

305.5

23542

1.7

1.1

1.8

10.2

7.6

12.9

0.20

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

298.0

11493

1.8

0.9

12.6

17.1

15.7

15.5

0.46

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

61.7

14993

1.7

1.0

15.5

15.8

9.6

12.1

0.30

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Large & Mid Cap Fund

923.7

5654

1.9

1.1

15.6

16.0

11.1

13.4

0.29

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

84.9

4778

1.9

0.9

15.8

18.2

15.6

14.4

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

20.7

1497

2.2

1.1

9.6

11.6

9.2

–

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

96.6

32930

1.5

0.8

9.9

15.3

9.2

13.2

0.23

EQUITY – FOCUSED FUNDS

Axis Focused Fund

53.1

11382

1.8

0.9

7.6

11.8

6.4

13.1

0.14

EQUITY – LARGE CAP FUNDS

Axis Large Cap Fund

61.3

32420

1.6

0.7

9.5

12.7

9.1

13.6

0.25

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

32.6

2.0

1.0

6.5

7.9

5.6

7.0

0.29

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

32.0

400

1.1

0.2

5.7

7.7

6.6

6.5

0.58

EQUITY – MID CAP FUNDS

DSP Midcap Fund

149.7

19047

1.7

0.8

17.1

20.8

14.7

16.5

0.43

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

44.3

129

2.5

1.3

15.5

14.8

11.7

13.0

0.36

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HSBC Infrastructure Fund

47.2

2198

2.1

1.0

14.6

22.5

21.5

17.7

0.57

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

403.1

12175

1.7

0.7

20.9

25.0

19.0

17.9

0.50

EQUITY – THEMATIC – CONSUMPTION FUNDS

ICICI Prudential FMCG Fund

443.4

1775

2.2

1.3

-1.5

4.2

10.4

11.7

0.31

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

195.8

515

2.5

1.4

10.5

12.8

9.7

10.7

0.35

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Financial Services Fund

22.4

278

2.5

1.2

24.5

13.9

11.3

12.0

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

150.2

1054

2.2

1.0

7.1

15.1

12.7

13.8

0.42

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

98.7

1010

2.3

1.6

12.2

14.5

11.4

11.6

0.33

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

28.4

331

2.5

1.4

8.8

20.3

14.8

–

0.42

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

28.7

587

2.4

1.0

3.5

16.8

19.4

–

0.48

EQUITY – VALUE FUNDS

LIC MF Value Fund

25.0

192

2.5

1.4

12.4

15.8

13.9

–

0.38

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

18.1

797

2.3

1.1

1.8

6.1

4.3

–

0.09

EQUITY – FOCUSED FUNDS

Motilal Oswal Focused Fund

42.9

1445

2.1

1.0

14.6

10.1

7.1

11.7

0.17

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

35.4

302

2.3

0.5

10.1

13.6

13.1

14.3

0.43

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Conservative Hybrid Fund

60.7

936

1.9

1.1

9.9

9.3

8.3

6.2

1.18

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

16.5

933

1.6

0.5

7.6

8.9

7.6

5.4

0.53

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Aggressive Hybrid Equity Fund

128.3

208

2.3

0.8

5.5

10.8

9.0

9.8

0.30

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

340.3

570

2.4

0.9

10.1

11.4

9.6

11.7

0.29

EQUITY – VALUE FUNDS

Quantum Value Fund

124.1

1178

2.1

1.1

4.8

16.1

13.2

13.1

0.52

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

20.1

132

2.4

0.8

7.1

10.8

9.7

–

0.24

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

138.6

900

2.3

1.0

11.3

16.5

14.6

16.5

0.52

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

41.9

11999

1.7

0.5

-15.6

7.9

11.2

15.5

0.32

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

221.8

342

2.7

2.6

5.8

14.9

11.8

11.3

0.35

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

280.1

1055

2.3

1.3

7.6

24.5

15.2

12.2

0.46

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

UTI Infrastructure Fund

145.1

2111

2.2

1.9

14.6

20.5

17.1

15.7

0.55

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

41.5

5082

1.7

1.1

4.4

8.7

7.2

8.1

0.35

EQUITY – THEMATIC – MNC FUNDS

Aditya Birla Sun Life MNC Fund

–

1288.7

3419

2.0

1.3

8.0

12.5

7.5

9.3

0.21

HYBRID – CONSERVATIVE HYBRID FUNDS

Bank of India Conservative Hybrid Fund

–

34.8

2.1

1.2

6.6

7.5

10.3

7.6

0.85

EQUITY – MULTI CAP FUNDS

Baroda BNP Paribas Multi Cap Fund

–

282.5

3048

2.0

0.9

8.4

18.0

16.6

15.4

0.49

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

37.5

12671

1.7

0.5

9.6

15.9

20.2

–

0.59

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

42.8

5369

1.8

0.5

10.9

19.4

20.1

–

0.60

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

21.2

2.4

1.4

11.0

12.1

10.3

–

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

19.7

2.3

0.9

9.8

13.9

11.2

–

0.34

EQUITY – VALUE FUNDS

Groww Value Fund

–

27.0

2.3

0.9

12.9

16.5

13.4

11.7

0.46

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

27.5

4603

1.9

0.8

17.2

20.8

16.0

–

0.40

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

805.3

15845

1.7

0.9

12.0

20.2

17.1

16.1

0.61

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

133.4

19946

1.6

0.5

9.6

19.3

15.6

17.1

0.52

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

16.6

369

2.3

0.8

3.9

10.0

7.3

–

0.37

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

123.3

3934

1.9

0.7

5.0

16.6

14.3

14.8

0.42

EQUITY – CONTRA FUNDS

Kotak Contra Fund

–

155.8

5087

1.8

0.6

16.4

21.0

17.1

17.6

0.59

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

83.6

2.3

1.4

5.4

6.7

5.7

6.7

0.32

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

27.7

2.4

1.3

8.8

9.0

7.2

6.9

0.34

EQUITY – FOCUSED FUNDS

LIC MF Focused Fund

–

20.8

162

2.5

1.2

8.2

10.2

10.5

–

0.31

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

28.1

2.4

1.1

2.1

20.4

11.6

–

0.32

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

23.5

740

2.3

0.6

11.4

14.7

12.1

–

0.42

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

35.9

6046

1.8

0.4

15.0

20.8

18.7

–

0.55

EQUITY – TAX SAVING (ELSS) FUNDS

Navi ELSS Tax Saver Fund

–

28.9

2.3

0.4

9.1

12.5

10.4

12.0

0.33

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

299.3

48809

1.5

0.7

15.0

21.9

21.8

16.9

0.73

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

50.4

1.3

0.6

6.4

7.1

6.8

7.3

0.72

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

96.7

6221

1.8

0.7

10.0

17.4

20.1

19.8

0.55

EQUITY – MULTI CAP FUNDS

Quant Multi Cap Fund

–

580.7

7456

1.8

0.7

1.3

11.1

15.2

17.5

0.40

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

391.8

48729

1.5

0.7

10.9

19.8

20.6

17.7

0.85

EQUITY – THEMATIC – MNC FUNDS

SBI MNC Fund

–

355.7

5602

1.9

1.3

4.2

8.0

10.0

11.4

0.30

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

32.0

2.4

0.9

9.6

11.7

9.3

10.4

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

21.1

2.3

0.8

7.5

11.2

9.5

–

0.24

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

29.7

1.1

0.8

4.1

6.8

7.0

6.8

0.58

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

381.7

2798

2.0

0.9

13.0

17.7

16.1

16.7

0.51

EQUITY – VALUE FUNDS

Sundaram Value Fund

–

224.4

1389

2.3

1.7

11.7

13.6

12.8

13.4

0.45

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

21.0

9401

1.7

0.5

8.7

11.1

9.8

–

0.60

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Financial Services Fund

–

55.6

2.5

1.9

17.3

14.4

10.9

15.4

0.30

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

178.5

2.5

1.7

2.6

14.3

12.9

14.5

0.44

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Taurus Infrastructure Fund

–

65.4

2.4

1.5

9.8

19.0

16.3

16.2

0.46

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

160.5

2.6

2.3

12.1

17.2

12.4

11.7

0.35

EQUITY – THEMATIC – MNC FUNDS

UTI MNC Fund

–

389.9

2755

2.0

1.3

10.6

13.1

11.4

11.1

0.38

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Fedbank Financial Services allots 21,750 equity shares under ESOS

by Hansraj Agrawal | Feb 21, 2026 | Share Market

Last Updated : Feb 21 2026 | 11:16 AM IST

Fedbank Financial Services has allotted 21,750 equity shares under ESOS on 20 February 2026. As a result of the allotment, the paid-up share capital of the Company is increased from Rs. 3,74,10,35,380/- consisting of 37,41,03,538 equity shares having a face value of Rs. 10/- each to Rs.
3,74,12,52,880/- consisting of 37,41,25,288 equity shares having a face value of Rs. 10/- each.

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Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Feb 21 2026 | 11:16 AM IST

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India Ratings upgrades ratings of Wheels India to 'A+' with 'stable' outlook

by Hansraj Agrawal | Feb 21, 2026 | Share Market

Wheels India said that India Ratings and Research has upgraded its rating on the bank loan facilities of the company to ‘IND A+’ from ‘IND A’ with ‘stable’ outlook.

The agency has affirmed the companys short-term rating at IND A1.

India Ratings and Research stated that the upgrade reflects a notable improvement in WILs EBITDA margins, and thus credit metrics at the consolidated level during FY259MFY26, supported by sustained revenue diversification and working capital efficiencies.

The agency expects this positive momentum to continue over the near to medium term, driven by higher contributions from margin-accretive segments and ongoing cost-optimisation initiatives undertaken by the company.

India Ratings further said that a significant improvement in the profitability along with improving profitability from newer segments, while maintaining the gross working capital cycle, and net adjusted leverage reducing below 2.5x, all on a consolidated and sustained basis, could lead to a positive rating action.

However, a decline in the profitability margins and/or a stretch in the gross working capital cycle, leading to net adjusted leverage exceeding 3.5x, and deterioration in the liquidity position, could lead to a negative rating action.

Wheels India manufactures steel and aluminium wheel rims across the automotive (except two-wheeler), tractor and earth mover segments. It caters to both the domestic and overseas markets. The company also has a presence in air suspension systems for luxury buses in India, supplies fabricated and machined parts for windmills, and produces bogie frame and bogie bolsters for the Indian Railways.

The company had reported 44.05% increase in consolidated net profit to Rs 36.07 crore on a 21.92% increase in revenue to Rs 1,371.45 crore in Q3 FY26 as compared with Q3 FY25.

The scrip had declined 2.03% to end at Rs 899.25 on the BSE on Friday.

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Clean Max Enviro IPO: Long-term growth eyed, but valuation raises eyebrows

by Hansraj Agrawal | Feb 20, 2026 | Share Market

Clean Max Enviro IPO: India’s largest commercial & industrial (C&I) renewable energy service provider, Clean Max Enviro Energy Solutions, has received a mixed response from brokerages ahead of its initial public offering (IPO), with concerns raised over its aggressive valuation. The company’s maiden share sale, valued at around ₹3,100 crore, is set to open for public subscription on Monday, February 24, 2026.

Ahead of the launch, Aditya Birla Money has recommended subscribing to the issue with a long-term perspective, citing the healthy growth potential in an underpenetrated industry. The brokerage pointed out that C&I renewable energy penetration stood at 7.4 per cent in FY23, with expectations for it to rise to 20 per cent by FY30. This will require 15-18 GW of annual capacity additions, translating into a 22-24 per cent compound annual growth rate (CAGR) in installed capacity. “The phasing out of ISTS charges and emerging high energy-consuming sectors like data centres and AI, which require guaranteed RTC power supply, will bolster C&I demand, providing visibility and confidence in business scaling,” said the brokerage in its report.

However, at the upper price band of ₹1,053, the issue is valued at 16x EV/Ebitda, which Aditya Birla Money considers to be expensive.

On the other hand, Swastika Investmart has assigned a ‘Neutral’ rating to the IPO, highlighting that, based on recent financials, the offering appears aggressively priced. “However, considering its superior Ebidta margins and stronger operating metrics compared to industry peers, the IPO valuation seems justified. The IPO may be avoided for short-term or listing gains; however, well-informed investors may consider it for medium- to long-term investment,” said the brokerage in its report.

Amidst these mixed market sentiments, grey market activity also remains subdued ahead of the IPO launch. Sources tracking grey market activity revealed that the company’s unlisted shares were changing hands at around ₹1,053 per share in unofficial markets. This translates to a grey market premium (GMP) of ₹63 or 0.43 per cent over the upper end of the IPO price band of ₹1,000 to ₹1,053 per share.

Clean Max Enviro IPO details

Clean Max Enviro IPO comprises a fresh issue of 11.4 million equity shares worth up to ₹1,200 crore, and an offer for sale (OFS) with promoters and shareholders divesting up to 18 million shares worth up to ₹1,900 crore.

Under the OFS, Kuldeep Jain, BGTF One Holdings (DIFC), and KEMPINC LLP are the promoter selling shareholders, while Augment India I Holdings and DSDG Holding APS are the investor selling shareholders, according to the Red Herring Prospectus (RHP).

The public offering will be available at a price band of ₹1,000 to ₹1,053 per share, with a lot size of 14 shares. Investors can bid for a minimum of 14 shares, and in multiples thereof.

A retail investor would require a minimum of ₹14,742 to bid for one lot (14 shares) of Clean Max Enviro IPO, while ₹1,91,646 is required to bid for a maximum of 13 lots (182 shares) at the upper end of the price band.

Clean Max Enviro IPO is set to conclude its subscription window tentatively on Wednesday, February 25. Following this, the basis of allotment is scheduled to take place on Thursday, February 26. The company’s shares are set to make their D-Street debut on Monday, March 2.

MUFG InTime India is the registrar for the issue, while the book running lead managers include Axis Capital, JP Morgan India, BNP Paribas, HSBC Securities and Capital Markets (India), IIFL Capital Services, Nomura Financial Advisory and Securities (India), BOB Capital Markets, and SBI Capital Markets.

The company will not receive any proceeds from the offer for sale. “Our Company will not receive any proceeds from the Offer for Sale, and the proceeds received from the Offer for Sale will not form part of the Net Proceeds. Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale, in proportion to the equity shares offered by them, after deducting their proportion of offer-related expenses and relevant taxes,” said the company in its RHP.

However, Clean Max plans to utilise the proceeds from the fresh issue for the repayment and/or pre-payment, in part or full, of certain outstanding borrowings of the company and/or certain of its subsidiaries, as well as for general corporate purposes.
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(Disclaimer: The views and investment tips expressed by the brokerages in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.)

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