Investors ditch safe havens, turn to riskier debt on US-Iran truce hopes

by Hansraj Agrawal | Apr 19, 2026 | Share Market

By Tasos Vossos and Davide Barbuscia

Credit investors are loading up on riskier debt, betting that Iran and the US can extend their truce, and leaving behind havens they’ve favoured since the war broke out in late February.

In the first half of April, investors bought a net $500 million of bonds in the lowest tier of investment grade, and sold $7.3 billion of the higher tiers, according to JPMorgan Chase & Co. That helped BBB bonds perform comparatively better than higher-rated notes, pushing the gap between spreads for BBB and A corporates to the tightest since before the war.

There may be good reason for these slightly riskier bonds to be performing better: BBB rated companies have outperformed analysts’ average forecasts more than A companies have, according to a Bloomberg News analysis. Buyers are hoping a more lasting peace in the Middle East can be forged by negotiators, and that companies in the lower edges of investment grade can keep performing well.

“There is some value in the BBB space and issuers there have been good stewards of the balance sheet and generally improving credit quality,” said Gene Tannuzzo, global head of fixed income at Columbia Threadneedle Investments.

Investors have also been snatching up junk bonds, although with a preference for the higher-rated end of the spectrum, implying that money managers still see risk ahead even as they grow moderately more hopeful. Overall spreads for junk bonds are at their tightest since the war began, averaging 2.72 per cent as of Thursday’s close.

On Thursday, cloud infrastructure provider CoreWeave Inc. tapped the US junk-bond market for the second time in just a week, selling $1 billion of additional debt following the successful raise of $1.75 billion. High-yield bonds posted a $2.8 billion inflow this week, the largest amount recorded since June of last year, according to LSEG Lipper.

In the high-grade market, first-quarter results so far bolster the view that companies have withstood the energy shock. Among the first 100 companies to report, those rated within the BBB band by S&P Global have outperformed analysts’ average earnings expectations by 9.3 per cent, based on data compiled by Bloomberg News. The number for firms rated A or above is 6.2 per cent.

Corporate earnings expectations have continued to rise despite the conflict, with lower-rated firms delivering early earnings beats and renewing optimism over artificial intelligence.

To be sure, bets on BBB issuers are becoming crowded, with their spread to A peers in the US at the lowest since before the war.

“We view BBBs as rich,” said Tony Trzcinka, an investment grade portfolio manager at Impax Asset Management.

Energy firms account for about 10 per cent of Bloomberg’s BBB corporate index, but just 3 per cent of A rated peers. That also helps explain some of the outperformance for the former.

AI Binge

Issuers whose debt has ballooned are also stirring concern. Notably, BBB rated Oracle Corp. has taken out $120 billion of bonds for a debt-fueled and still unproven wager on AI, and become the biggest borrower in the Bloomberg US high-grade corporate bond index, outside of banks.

Tannuzzo is wary of companies rapidly increasing leverage to finance AI projects, and sees value in utilities, energy and telecommunications firms.

Likewise, Jon Curran, head of investment grade credit for Principal Asset Management, is looking for companies that are deleveraging and issuers with strong balance sheets and industry positions.

Meanwhile, negotiations to end the war are ongoing, with some Gulf Arab and European leaders warning a peace deal would take about six months to be agreed, though President Donald Trump said he’d won key concessions. On Friday, Iran said it would open the Strait of Hormuz for the duration of a 10-day ceasefire between Israel and Hezbollah in Lebanon, increasing the prospect of a wider peace deal.

These hopeful signs are enough to unleash buyers in both secondary and primary credit markets. Borrowers in the high-grade US market sold nearly $58 billion in bonds this week, led by banks, more than 40 per cent above expected issuance. In Europe, banks and insurers raised the largest amount from junior-ranked bonds since before the war.

“Demand has kept pace with elevated issuance, with the market absorbing supply in an orderly way,” Curran said.

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War stress test reveals winners & losers in factor investing

by Hansraj Agrawal | Apr 18, 2026 | Share Market

The US–Iran military escalation triggered a sharp risk-off phase across global markets, with crude oil prices surging, bond yields hardening, and concerns around global growth intensifying. Indian equities were no exception. Between February 28, 2026 and April 17, 2026, the Nifty 500 fell sharply during the period before recouping most of the losses, ending only 1.3 per cent lower. But beneath the headline index, the factor strategies showed a clear divergence. These are rule-based portfolios built around specific stock traits such as value, quality, momentum, alpha or low volatility. The quality factor emerged as the outperformer, while the low volatility factor, typically viewed as defensive, lagged the most.

To understand how these strategies behaved during the recent turmoil, we analysed the Nifty500 Value 50, Nifty 500 Low Volatility 50, Nifty500 Quality 50, Nifty500 Momentum 50, and Nifty Alpha 50 indices based on total return performance. Following the onset of the conflict, markets saw a sharp drawdown, with indices bottoming out on March 30. The Nifty 500 fell 11.3 per cent during this phase. The Quality index proved relatively resilient, declining the least at 8 per cent, while momentum and alpha saw the steepest falls of 12.2 per cent. Low volatility and value declined 10 per cent and 11 per cent, respectively.

As sentiment improved, markets staged a recovery. Between February 28 and April 17, during the conflict period, the quality index topped the returns chart with a gain of 7.1 per cent, comfortably outperforming the Nifty 500, which remained down 1.3 per cent. In contrast, low volatility (-3 per cent) and value (-1.5 per cent) lagged even the broader market, while momentum (-0.3 per cent) and alpha (0.8 per cent) managed to contain losses.

In India, around 117 factor-based funds, managing nearly ₹51,000 crore as of March 2026, deploy rule-based strategies across momentum, alpha, low volatility, quality, and value. These frameworks aim to capture distinct drivers of returns in a transparent and cost-efficient manner.

Quality

The Quality factor outperformed during the ongoing conflict, driven by its tilt toward companies with strong balance sheets, high return ratios, and stable earnings. Its sector mix, including private-sector financials, IT, consumer businesses, and select pharma, provided resilience in a risk-off environment.

Parts of the portfolio also benefitted from favourable market dynamics. Capital market-linked stocks such as Angel One, BSE and Anand Rathi Wealth surged 38 per cent, 31 per cent, and 20 per cent, respectively during the period between February 27 and April 17. Metals and mining names, including National Aluminium (up 24 per cent) and NMDC (up 10 per cent) gained.

Exposure to defence and industrial themes added further support. Stocks such as ABB India, Mazagon Dock Shipbuilders, and Zen Technologies rose 16–19 per cent during the period, driven by expectations of better earnings growth on possible higher defence spending. These gains helped offset weakness in consumption-oriented names such as Britannia and Colgate-Palmolive, which fell 5 per cent and 7 per cent, respectively, amid cost pressures and subdued demand. Additionally, select IT and pharma names, including Persistent Systems and Natco Pharma, delivered notable gains.

In hindsight, this positioning may have enabled the quality index to provide both downside protection and modest positive returns.

Low volatility

The most notable underperformance came from the Nifty 500 Low Volatility 50 index, which declined by 3 per cent. This outcome highlights that not all defensive factors behave similarly across different types of crises. Low volatility strategies typically select stocks with stable price movements based on historical standard deviation, aiming to limit drawdowns and improve risk-adjusted returns. However, they often carry higher exposure to defensive sectors such as utilities and consumer staples. Utilities are particularly vulnerable to rising yields, as seen during the conflict period, while staples can be hurt when inflation and input costs rise.

Large FMCG names such as Dabur, Colgate-Palmolive, and Godrej Consumer Products saw steep corrections of 7–15 per cent. Insurance and financial stocks also declined as bond yields hardened and growth concerns intensified. ICICI Prudential Life Insurance, HDFC Life Insurance, and SBI Cards and Payment Services fell in the 10–14 per cent range.

Notably, the index had limited exposure to metals, defence, capital market infrastructure, and energy. These are the sectors that drew investor interest during the geopolitical escalation. While select stocks such as Page Industries, Tata Power, and Tech Mahindra gained 11–18 per cent, their weights were insufficient to offset broader losses.

This underperformance suggests that low volatility strategies may fare better in growth slowdowns or earnings-led corrections, but can struggle in inflationary or supply-shock-driven environments.

Momentum

Momentum and alpha factors, though negative, showed relative outperformance compared to the broader market.

The alpha index benefitted from a few standout performers, most notably Adani Power that gained 42 per cent. Exchange and commodity-linked plays such as BSE and MCX, along with metals like National Aluminium, also contributed positively. However, these gains were offset by substantial losses in PSU banks, auto majors, and select financial stocks, which form a significant part of the alpha basket. Stocks such as Ashok Leyland (-17 per cent), Bank of India (-16 per cent), Karur Vysya Bank (-15 per cent), and Eicher Motors (-10 per cent) were a drag on performance.

Momentum strategies, which chase recent outperformers, drew some support from exposure to capital markets and select pharma, capital goods, and energy names. However, names such as Bajaj Finance, Cholamandalam Investment Finance, and Mahindra Finance recorded steep declines of 9–20 per cent. Auto stocks, which had strong prior momentum, also corrected sharply.

Overall, the episode highlights a key limitation of momentum investing: during sudden external shocks, past trends can break down quickly, exposing these strategies to drawdowns.

Value

The Nifty 500 Value 50 index, which tracks relatively undervalued stocks, is often seen as better placed in market corrections. Yet, it fell 1.5 per cent and lagged the Nifty 500.

Top gainers included National Aluminium, Reliance Power, Hindalco Industries, and NMDC, which delivered gains of 10–24 per cent. However, Indian Oil, BPCL, and HPCL declined sharply by 16–22 per cent as rising crude prices stoked concerns over their marketing margins.

Value indices also carry significant weights in PSU banks. Stocks such as Bank of Baroda, Punjab National Bank, SBI, and Bank of India posted double-digit losses of up to 16 per cent. Thus, losses in OMCs and PSBs more than offset the gains in metals, causing the index to lag.

Takeaway

The US–Iran conflict offered a live stress test for factor strategies, revealing how differently they behave under geopolitical and inflationary shocks.

Quality emerged as the clear winner, rewarding investors with both downside protection and positive returns. Momentum and alpha, while negative, managed to contain losses better than the broader market, aided by select sector tailwinds. Low volatility was a disappointment, showing that a defensive tag does not always mean safety in such crises. Value, too, underwhelmed, showing that lower valuations alone do not guarantee resilience in every correction.

The lesson for investors is that they should evaluate factor strategies not just on historical risk metrics, but also on their underlying sector composition and macro sensitivity before investing.

Published on April 18, 2026

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Mutual Funds returns

by Hansraj Agrawal | Apr 18, 2026 | Share Market

EQUITY – LARGE & MID CAP FUNDS

Bandhan Large & Mid Cap Fund

136.8

14109

1.7

0.5

10.1

23.7

19.4

16.4

0.54

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

39.7

1282

2.0

0.7

12.9

20.0

17.7

–

0.46

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BNP Paribas Balanced Advantage Fund

24.9

4365

1.9

0.8

8.6

13.9

11.6

–

0.38

EQUITY – LARGE CAP FUNDS

Canara Robeco Large Cap Fund

61.1

15235

1.7

0.6

1.8

13.9

11.8

13.8

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

137.9

15044

1.7

0.7

3.3

19.1

16.0

15.7

0.45

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

26.3

1233

1.6

0.6

7.7

11.3

9.4

9.2

0.67

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

102.9

13554

1.7

0.5

13.0

25.7

21.2

18.6

0.55

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

519.2

98458

1.4

0.8

4.6

16.5

17.4

15.0

0.73

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

1994.7

91335

1.4

0.7

5.7

20.7

20.4

16.7

0.65

EQUITY – FOCUSED FUNDS

HDFC Focused Fund

228.3

24170

1.6

0.7

4.6

19.7

21.3

14.9

0.69

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

335.0

25295

1.6

0.9

6.7

19.3

18.3

15.0

0.50

EQUITY – MID CAP FUNDS

HDFC Mid Cap Fund

198.9

85358

1.4

0.8

14.2

24.7

22.1

18.2

0.64

EQUITY – VALUE FUNDS

HSBC Value Fund

113.3

13371

1.7

0.7

12.2

22.8

19.8

16.6

0.54

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

53.2

5912

1.8

0.6

6.3

21.8

21.7

16.4

0.72

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

403.9

46700

1.5

0.9

7.4

18.6

18.8

16.0

0.79

EQUITY – FOCUSED FUNDS

ICICI Prudential Focused Equity Fund

92.9

14571

1.7

0.6

8.9

21.8

18.7

15.6

0.54

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

ICICI Prudential Infrastructure Fund

200.3

7554

1.9

1.2

11.4

25.0

27.1

18.6

0.82

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

1024.4

27005

1.6

0.8

8.4

21.2

20.1

16.2

0.63

EQUITY – LARGE CAP FUNDS

ICICI Prudential Large Cap Fund

109.0

69948

1.4

0.9

4.5

16.8

15.4

14.5

0.47

EQUITY – SECTOR – PHARMA FUNDS

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

38.8

6293

1.9

1.1

6.1

26.5

15.9

–

0.56

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

77.9

3225

1.7

0.9

5.8

9.9

8.8

9.4

0.83

EQUITY – VALUE FUNDS

ICICI Prudential Value Fund

468.8

55852

1.5

1.0

6.0

19.0

19.1

15.5

0.70

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

92.9

4504

1.9

0.7

-0.8

19.1

17.3

16.4

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

58.9

2863

1.7

0.5

2.3

9.3

8.7

9.1

0.63

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

183.6

2186

2.0

0.7

-4.4

13.7

15.6

13.2

0.42

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

89.8

46521

1.5

0.7

6.2

17.8

17.6

14.9

0.52

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

167.5

61809

1.4

0.7

8.8

21.3

22.9

20.8

0.54

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

84.0

128966

1.3

0.6

6.3

18.1

16.4

17.4

0.59

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Aggressive Hybrid Fund

435.4

1809

2.1

0.8

9.7

14.1

14.8

15.6

0.46

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

377.8

10978

1.7

0.8

11.2

18.1

20.0

0.44

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Quant Infrastructure Fund

38.4

2489

2.0

0.9

9.1

19.9

21.6

19.6

0.47

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

208.9

7002

1.8

0.9

0.3

16.9

18.8

16.6

0.48

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

248.7

25821

1.7

0.8

5.4

20.1

22.6

18.5

0.52

EQUITY – TAX SAVING (ELSS) FUNDS

SBI ELSS Tax Saver Fund

431.6

28441

1.6

1.0

5.2

22.0

18.8

14.9

0.56

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

194.1

4027

1.9

0.9

1.2

13.3

11.8

15.4

0.28

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

70.5

1071

2.2

0.8

3.3

10.8

10.0

9.3

0.53

EQUITY – SECTOR – BANKING FUNDS

Sundaram Financial Services Opportunities Fund

107.2

1439

2.1

0.8

5.4

17.5

15.8

15.4

0.37

EQUITY – FOCUSED FUNDS

360 ONE Focused Fund

45.9

6047

1.8

0.8

2.9

14.5

14.3

16.0

0.36

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

109.6

8540

1.8

0.7

8.0

13.1

10.8

11.0

0.49

EQUITY – LARGE & MID CAP FUNDS

Axis Large & Mid Cap Fund

32.7

13973

1.7

0.6

9.1

19.1

15.2

–

0.38

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

103.9

23919

1.6

0.6

6.6

18.0

18.6

18.1

0.50

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

151.1

6274

1.8

0.7

5.2

14.8

14.9

15.2

0.41

EQUITY – VALUE FUNDS

Bandhan Value Fund

144.6

9042

1.8

0.7

3.4

15.9

17.1

15.8

0.49

EQUITY – TAX SAVING (ELSS) FUNDS

Bank of India ELSS Tax Saver

163.9

1260

2.0

0.8

9.3

17.8

15.6

16.5

0.37

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

BOI AXA Manufacturing & Infra

61.6

647

2.2

0.6

21.8

26.0

22.9

18.4

0.58

EQUITY – SMALL CAP FUNDS

Bank of India Small Cap Fund

47.5

1770

2.0

0.5

10.1

21.8

20.6

–

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BNP Paribas Aggressive Hybrid Fund

27.7

1146

2.1

0.5

5.0

13.8

12.0

–

0.38

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BNP Paribas India Consumption Fund

29.6

1301

2.1

0.7

-3.5

13.9

12.9

–

0.32

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

103.4

1705

2.1

0.9

-1.0

14.4

13.6

15.7

0.33

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

174.4

7810

1.7

0.6

6.5

14.9

13.3

14.8

0.36

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Canara Robeco Infrastructure Fund

170.0

864

2.3

1.1

16.5

26.6

24.8

16.9

0.66

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

38.1

2892

1.9

0.6

2.5

21.3

13.4

–

0.42

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

63.4

3309

1.9

0.4

5.5

15.8

14.7

12.7

0.54

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

51.9

12234

1.6

0.5

7.0

12.4

10.5

11.0

0.41

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

38.2

2957

1.9

0.5

7.5

18.4

15.6

14.9

0.41

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Franklin Build India Fund

147.6

2858

2.0

1.0

12.4

27.0

24.8

18.0

0.66

EQUITY – DIVIDEND YIELD FUNDS

Franklin India Dividend Yield Fund

137.3

2141

2.1

1.3

3.4

15.5

16.5

15.3

0.59

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1589.1

17536

1.7

0.9

2.3

17.5

15.9

13.7

0.43

EQUITY – FOCUSED FUNDS

Franklin India Focused Equity Fund

102.0

10716

1.8

1.0

0.5

14.4

14.5

13.8

0.39

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1372.5

14615

1.7

1.1

2.5

19.3

18.8

14.4

0.60

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

67.1

5576

1.9

1.0

4.9

9.8

9.5

9.7

0.57

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

83.1

3198

1.8

1.2

2.4

9.1

9.0

8.7

0.72

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1111.3

35458

1.6

1.0

1.5

14.0

14.4

13.4

0.41

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

77.1

66398

1.5

0.9

9.0

13.3

11.8

11.5

0.62

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

177.8

12575

1.8

1.0

-1.0

12.2

9.9

15.6

0.21

EQUITY – SECTOR – BANKING FUNDS

Invesco India Financial Services Fund

144.9

1480

2.1

0.8

12.2

21.1

17.3

16.2

0.39

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

179.0

9895

1.7

0.6

15.8

26.7

21.5

18.4

0.51

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

41.7

9208

1.7

0.5

11.0

24.8

22.2

–

0.51

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

116.1

652

2.4

0.9

0.5

17.3

14.9

12.3

0.44

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

47.0

196

2.4

1.0

4.3

18.3

15.4

15.7

0.38

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

150.6

390

2.4

0.9

3.8

14.6

12.7

11.3

0.33

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Aggressive Hybrid Fund

63.3

7812

1.7

0.5

9.6

15.1

13.3

13.1

0.43

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

27.0

9468

1.8

0.7

6.7

10.9

10.0

9.3

0.63

EQUITY – LARGE CAP FUNDS

Kotak Large Cap Fund

563.8

9794

1.7

0.6

4.9

14.4

12.6

12.9

0.34

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

34.4

4099

1.9

0.5

13.1

24.8

20.6

–

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

48.7

22940

1.6

0.6

8.1

16.6

14.0

17.2

0.37

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

20.9

1832

1.4

0.4

7.3

11.3

9.7

–

0.54

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

92.8

31047

1.6

0.9

2.1

22.5

23.9

16.8

0.55

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Financial Services Fund

640.6

6721

1.9

1.0

6.2

17.4

17.9

14.9

0.42

EQUITY – MID CAP FUNDS

Nippon India Growth Mid Cap Fund

4333.6

39676

1.6

0.8

15.2

26.4

22.8

19.2

0.60

EQUITY – VALUE FUNDS

Nippon India Value Fund

224.5

7993

1.8

1.1

5.8

21.9

18.7

16.1

0.50

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

35.3

5332

1.8

0.5

4.1

12.6

11.3

14.0

0.28

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

112.6

2782

2.0

0.8

1.8

16.8

16.4

15.5

0.40

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

75.0

9546

1.5

1.1

6.1

9.8

9.3

8.8

0.80

EQUITY – FOCUSED FUNDS

SBI Focused Fund

377.5

39739

1.6

0.8

13.9

18.6

14.8

15.0

0.43

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

636.8

34871

1.6

0.7

10.7

17.5

17.3

15.2

0.52

EQUITY – LARGE CAP FUNDS

SBI Large Cap Fund

93.0

48926

1.5

0.8

6.3

13.6

12.5

0.34

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

50.0

2079

2.1

1.0

5.0

14.9

13.4

0.34

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

405.3

6115

1.9

1.2

4.9

15.6

14.5

12.5

0.54

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

18.9

788

1.7

0.7

5.3

10.3

9.6

–

0.62

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

182.6

5234

1.8

0.9

9.4

21.7

18.3

14.6

0.54

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

62.2

3155

2.0

1.0

6.3

15.9

14.2

14.0

0.30

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life Consumption Fund

202.8

5478

1.8

0.8

-1.4

13.3

13.0

14.3

0.32

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1840.8

23018

1.7

0.9

10.1

18.6

14.4

0.38

EQUITY – FOCUSED FUNDS

Aditya Birla Sun Life Focused Fund

143.6

7132

1.8

0.9

8.5

17.2

13.8

13.2

0.38

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Large Cap Fund

514.5

26702

1.6

1.0

3.3

14.4

12.9

12.5

0.35

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

68.8

1456

1.8

0.9

5.7

9.0

8.3

8.5

0.65

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

21.2

3558

1.9

0.6

4.2

14.1

10.8

–

0.47

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

22.5

850

2.3

1.1

4.2

10.0

8.2

8.4

0.38

EQUITY – MID CAP FUNDS

Axis Midcap Fund

114.2

28835

1.6

0.5

12.0

20.1

16.0

16.8

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

26.7

1676

2.1

0.6

10.3

16.1

13.4

–

0.42

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

206.4

6651

1.9

1.2

6.3

15.8

13.1

11.3

0.34

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Bandhan Infrastructure Fund

48.3

1278

2.2

1.0

2.6

23.8

21.3

16.3

0.46

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

76.5

1821

2.1

0.9

6.0

16.2

13.2

13.0

0.34

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

90.2

422

2.3

1.1

10.9

17.4

15.3

13.1

0.41

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BNP Paribas ELSS Tax Saver Fund

96.5

809

2.2

1.0

7.6

18.8

13.8

12.9

0.35

EQUITY – LARGE CAP FUNDS

Baroda BNP Paribas Large Cap Fund

217.7

2344

2.0

0.8

4.3

15.2

13.2

12.8

0.36

EQUITY – MID CAP FUNDS

Baroda BNP Paribas Mid Cap Fund

106.0

2129

2.0

0.5

13.8

21.4

17.9

15.8

0.48

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

97.1

849

1.9

0.8

2.5

7.6

6.8

7.8

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

361.3

10253

1.7

0.6

5.9

13.5

11.5

12.6

0.37

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

333.8

11922

1.7

0.6

6.0

14.7

12.9

14.3

0.34

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Large and Mid Cap Fund

245.7

22203

1.6

0.7

2.4

15.7

13.9

15.4

0.36

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

348.1

10883

1.7

0.7

0.3

14.5

11.5

12.4

0.36

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

28.3

3548

1.9

0.7

5.7

12.4

8.9

9.0

0.42

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

22.1

3573

1.5

0.7

3.0

9.7

8.4

8.1

0.61

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

100.5

10726

1.7

0.7

3.2

16.3

13.0

14.4

0.32

EQUITY – FOCUSED FUNDS

DSP Focused Fund

53.3

2295

2.1

1.0

2.7

18.4

12.5

12.2

0.32

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

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

339.0

4979

1.9

0.9

17.7

27.4

25.3

18.1

0.63

EQUITY – LARGE & MID CAP FUNDS

DSP Large & Mid Cap Fund

616.6

15780

1.7

0.7

5.2

19.7

16.0

15.3

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

60.1

176

1.2

0.5

4.0

9.5

7.7

7.2

0.56

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

201.1

15300

1.7

0.8

16.7

21.4

20.2

16.7

0.48

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

88.0

4067

1.9

0.5

10.3

18.9

15.7

14.9

0.42

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

82.5

1322

2.1

0.6

3.4

13.6

12.5

12.9

0.33

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Aggressive Hybrid Fund

266.0

2164

2.1

0.9

2.5

13.8

12.0

11.2

0.40

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Conservative Hybrid Fund

91.4

187

1.4

0.7

3.1

8.7

7.3

7.2

0.46

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1418.6

5684

1.9

1.1

1.2

17.2

15.6

12.9

0.42

EQUITY – LARGE CAP FUNDS

Franklin India Large Cap Fund

1007.5

6821

1.9

1.2

4.6

13.8

11.3

11.2

0.29

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

460.7

1556

2.1

1.1

0.7

17.2

10.1

14.8

0.22

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

113.8

21286

1.7

1.0

0.4

9.8

11.3

0.36

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HDFC Infrastructure Fund

47.1

2132

2.1

1.2

5.9

25.9

24.9

12.6

0.65

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

133.5

33724

1.6

0.8

8.8

17.9

19.8

17.6

0.49

EQUITY – VALUE FUNDS

HDFC Value Fund

753.0

6588

1.9

1.0

9.5

19.6

17.0

14.3

0.45

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

43.2

1448

2.1

0.8

3.0

10.6

8.3

8.4

0.33

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

62.2

134

2.1

1.1

4.4

9.6

7.8

7.6

0.41

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

35.3

796

1.5

0.7

11.9

14.0

11.4

9.3

0.48

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

218.7

4724

2.0

1.2

9.2

18.9

15.6

13.4

0.36

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Financial Services Fund

131.2

9367

1.8

1.1

2.4

13.8

13.5

14.6

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

925.0

12810

1.7

1.1

4.3

16.4

14.0

13.5

0.39

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

327.9

6569

1.9

1.1

27.3

26.7

21.1

17.5

0.56

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

84.6

7538

1.8

0.8

7.4

16.3

18.6

16.0

0.51

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

52.1

984

2.1

0.8

1.9

11.2

9.4

9.6

0.32

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Invesco India Infrastructure Fund

62.9

1215

2.2

1.0

8.2

24.1

22.4

17.5

0.52

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

98.8

8436

1.8

0.6

10.3

24.2

18.2

16.1

0.43

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

68.7

1537

2.0

0.7

6.1

17.2

14.5

13.0

0.37

EQUITY – VALUE FUNDS

JM Value Fund

91.7

721

2.4

1.3

0.3

18.9

17.2

16.2

0.41

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

20.6

16204

1.7

0.6

5.0

10.9

9.4

–

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

113.1

5587

1.8

0.6

4.4

14.5

13.9

14.4

0.36

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

85.4

50146

1.5

0.6

9.1

16.5

13.8

14.2

0.35

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Kotak Infra & Economic Reform

66.7

2055

2.0

0.7

13.2

19.8

22.2

16.0

0.52

EQUITY – LARGE & MID CAP FUNDS

Kotak Large & Midcap Fund

346.6

27373

1.6

0.6

10.3

18.6

16.2

15.8

0.44

EQUITY – MID CAP FUNDS

Kotak Midcap Fund

137.8

55676

1.4

0.4

16.4

22.1

19.1

18.0

0.50

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

247.3

15157

1.7

0.6

3.9

15.3

15.7

16.5

0.36

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

30.3

583

2.4

0.8

5.8

21.2

16.6

–

0.43

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

LIC MF Infrastructure Fund

51.4

905

2.3

1.0

17.9

29.3

24.7

17.0

0.58

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

27.4

828

2.2

0.8

2.0

12.9

13.0

–

0.34

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

21.2

513

2.4

0.8

6.9

10.4

8.8

–

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

33.0

8682

1.7

0.4

8.1

14.0

12.0

12.8

0.39

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

88.3

4018

1.9

0.4

1.1

14.8

14.5

15.5

0.36

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

39.1

2754

1.9

0.5

7.9

23.3

14.2

–

0.47

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

151.4

38138

1.5

0.6

10.3

17.0

14.2

17.3

0.36

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

110.3

35343

1.5

0.6

3.8

12.3

11.2

13.3

0.28

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

52.7

3969

1.8

0.7

15.0

24.8

19.3

17.1

0.41

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

179.6

9032

1.7

0.6

5.3

12.5

10.6

11.0

0.46

EQUITY – FOCUSED FUNDS

Nippon India Focused Fund

120.3

7512

1.9

1.1

5.7

15.3

13.9

14.3

0.35

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

504.7

7898

1.8

0.9

3.6

21.9

13.5

14.2

0.46

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Large & Mid Cap Fund

1466.2

6299

1.9

1.1

7.0

20.6

17.2

13.4

0.47

EQUITY – MID CAP FUNDS

PGIM India Midcap Fund

62.6

9681

1.7

0.5

5.5

14.1

14.7

15.7

0.37

EQUITY – FOCUSED FUNDS

Quant Focused Fund

82.6

703

2.4

0.9

1.9

14.2

12.2

13.6

0.29

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

118.6

193

2.1

0.9

0.0

15.4

12.7

11.7

0.38

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Financial Services Fund

44.2

9380

1.8

0.7

10.4

20.0

15.2

16.9

0.35

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

290.0

2644

2.0

1.0

-5.0

12.3

15.7

14.4

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

307.9

76292

1.4

0.7

8.1

15.0

12.3

0.44

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

24.5

5609

1.5

0.9

5.9

11.2

9.2

8.8

0.52

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

107.4

20626

1.7

0.9

4.4

12.4

11.5

12.4

0.29

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

430.6

4064

1.9

0.9

4.2

24.4

15.8

12.0

0.57

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

SBI Infrastructure Fund

49.3

4109

2.0

1.0

4.1

20.7

20.9

15.9

0.55

EQUITY – MID CAP FUNDS

SBI Midcap Fund

232.7

20576

1.7

0.9

4.2

16.3

16.7

14.3

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

158.6

7653

1.8

0.7

2.4

12.3

11.0

12.2

0.36

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

498.9

1183

2.2

1.6

3.8

14.7

13.9

0.38

EQUITY – FOCUSED FUNDS

Sundaram Focused Fund

156.0

948

2.3

1.3

3.3

13.5

11.8

13.5

0.30

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1419.1

11898

1.7

0.9

13.6

24.8

20.1

15.4

0.52

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

262.8

2983

2.0

0.9

13.1

20.6

19.4

14.7

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Aggressive Hybrid Fund

430.0

3608

1.9

1.0

2.8

10.5

10.9

10.0

0.33

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Financial Services Fund

43.7

2743

1.9

0.6

5.4

16.3

13.9

15.6

0.32

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Fund

45.2

4091

1.8

0.8

8.9

16.6

14.6

14.2

0.38

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

23.7

3310

1.9

0.6

3.0

16.0

12.3

–

0.32

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

43.2

2261

2.0

0.8

2.0

17.6

14.8

16.0

0.35

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

501.3

2448

2.0

1.0

4.9

14.3

13.0

12.2

0.35

EQUITY – MID CAP FUNDS

Tata Mid Cap Fund

443.3

4993

1.9

0.7

13.2

21.9

17.8

16.4

0.48

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

34.8

9621

1.7

0.4

-5.1

13.7

18.0

–

0.42

EQUITY – VALUE FUNDS

Templeton India Value Fund

706.3

2005

2.1

1.0

4.2

16.2

17.9

14.6

0.52

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

20.2

1192

2.2

1.1

4.0

9.4

7.7

–

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

63.4

772

2.4

1.4

6.2

14.8

13.9

13.0

0.36

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

50.9

1666

2.2

1.1

17.8

20.3

18.9

15.9

0.42

EQUITY – VALUE FUNDS

Union Value Fund

28.3

337

2.5

1.2

8.9

18.3

16.0

–

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

69.6

1617

1.8

1.3

2.5

8.9

8.5

7.9

0.59

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

177.0

3497

2.0

1.5

7.3

20.1

15.9

14.5

0.48

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

264.3

11203

1.8

0.9

1.3

12.0

10.4

11.9

0.25

EQUITY – VALUE FUNDS

UTI Value Fund

164.1

8663

1.9

1.2

4.7

17.7

14.9

14.0

0.42

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

150.9

3590

1.9

0.8

-0.5

10.5

8.8

15.4

0.17

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

460.1

1339

2.2

1.4

11.2

19.4

18.1

13.5

0.52

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1507.1

6592

1.9

1.1

5.2

13.3

10.6

10.4

0.30

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

22.9

1029

1.0

0.5

7.0

9.6

7.3

8.0

0.32

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Aditya Birla Sun Life Infrastructure Fund

100.0

1001

2.3

1.4

14.6

22.5

20.7

15.4

0.48

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

790.3

5493

1.9

1.0

10.6

20.9

17.7

14.1

0.44

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Value Fund

129.1

5639

1.9

1.0

11.9

20.6

16.5

12.8

0.39

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

30.2

215

2.2

1.2

2.2

6.8

6.1

6.6

0.30

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

26.1

11413

1.7

0.7

4.5

15.0

11.1

–

0.24

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

24.6

2071

2.1

0.8

5.3

11.1

8.5

8.8

0.27

EQUITY – FOCUSED FUNDS

Bandhan Focused Fund

87.4

1810

2.1

0.8

7.9

18.9

14.2

13.4

0.35

HYBRID – BALANCED ADVANTAGE FUNDS

Bank of India Balanced Advantage Fund

26.2

140

2.3

1.2

10.0

11.8

10.8

7.6

0.40

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

48.2

346

2.4

0.8

4.1

16.0

12.9

13.1

0.27

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

45.6

791

2.0

0.5

4.2

8.1

6.8

7.1

0.37

EQUITY – FOCUSED FUNDS

Baroda BNP Paribas Focused Fund

20.8

596

2.3

0.5

0.3

12.4

11.4

–

0.24

EQUITY – LARGE CAP FUNDS

DSP Large Cap Fund

458.8

6620

1.8

0.9

0.4

16.2

12.6

11.8

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

112.4

395

2.3

0.7

9.9

16.9

14.0

12.6

0.36

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

16.8

632

1.1

0.4

4.6

8.4

7.9

–

0.46

EQUITY – LARGE & MID CAP FUNDS

Franklin India Large & Mid Cap Fund

185.9

3135

2.1

1.4

6.7

16.2

13.9

11.8

0.36

EQUITY – MID CAP FUNDS

Franklin India Mid Cap Fund

2678.2

10899

1.8

1.0

5.6

21.3

16.7

14.9

0.41

EQUITY – SMALL CAP FUNDS

Franklin India Small Cap Fund

166.4

11724

1.8

1.0

6.1

19.0

20.3

15.4

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

55.8

5005

1.9

0.8

11.4

15.3

11.4

11.1

0.30

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

134.5

3561

1.9

1.2

8.4

19.5

14.8

14.0

0.35

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

473.6

1667

2.2

1.3

5.4

14.5

12.0

12.7

0.29

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

78.0

13882

1.7

0.8

6.3

17.0

20.4

18.3

0.44

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

23.0

16875

1.0

0.5

4.7

8.1

7.6

8.1

0.87

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

21.2

713

2.3

0.7

-1.5

13.8

11.1

–

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

117.3

2293

2.0

0.9

-0.2

15.4

11.9

13.0

0.26

EQUITY – FOCUSED FUNDS

JM Focused Fund

19.3

248

2.4

0.8

2.9

17.1

14.1

13.5

0.32

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

37.6

2710

2.0

0.9

3.8

17.6

14.2

14.7

0.38

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

53.3

1253

2.2

1.1

-0.9

10.8

9.7

10.8

0.22

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

56.7

11679

1.7

0.8

0.6

21.1

12.6

12.8

0.28

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

20.8

101

2.2

0.5

7.3

12.7

11.4

–

0.35

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

23.5

232

2.2

0.5

11.4

13.9

12.8

–

0.32

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Aggressive Hybrid Fund

105.6

3701

2.0

1.0

6.5

14.5

13.3

10.2

0.45

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

130.2

13422

1.7

1.0

7.4

18.4

15.9

11.5

0.43

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

32.9

638

2.3

0.8

-0.9

10.4

11.9

12.7

0.31

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

165.5

32286

1.6

0.8

3.0

14.3

15.7

17.6

0.40

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

34.9

1565

2.1

0.7

2.8

10.1

8.6

7.7

0.29

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

89.1

1294

2.2

1.2

-4.6

13.6

12.8

12.6

0.31

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Sundaram Infrastructure Advantage Fund

100.3

873

2.4

1.6

15.5

23.5

20.4

15.6

0.53

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

85.1

6031

1.8

0.7

6.8

16.6

14.5

14.6

0.36

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

29.4

1229

2.2

0.7

1.6

21.9

13.4

11.9

0.45

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Tata Infrastructure Fund

174.1

1790

2.2

1.2

9.5

19.3

19.7

15.5

0.45

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

481.9

7040

1.8

0.7

-3.6

11.0

11.9

12.6

0.29

EQUITY – VALUE FUNDS

Tata Value Fund

350.3

7909

1.8

0.8

6.7

18.7

16.6

15.3

0.46

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

116.3

109

2.6

2.2

5.0

15.8

13.7

15.0

0.32

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

17.1

138

2.0

1.5

4.0

8.1

6.6

–

0.28

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

23.0

403

2.6

1.8

3.2

12.3

11.2

–

0.27

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Financial Services Fund

193.1

1213

2.2

1.1

5.3

15.7

14.0

12.5

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

199.1

3175

1.9

1.0

2.3

13.4

11.2

12.2

0.26

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

298.0

20438

1.7

1.1

-2.8

10.0

7.0

11.8

0.11

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

55.2

609

2.5

1.6

0.6

13.7

11.7

11.4

0.26

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

297.8

10482

1.8

0.9

10.3

17.7

15.2

14.4

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

60.5

13117

1.7

1.0

8.8

15.9

9.7

11.0

0.22

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Large & Mid Cap Fund

911.8

5103

1.9

1.1

9.5

15.9

11.0

12.1

0.22

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

86.0

4449

1.9

0.9

11.3

19.0

15.0

13.1

0.32

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

20.3

1377

2.2

1.1

3.6

11.5

9.4

–

0.25

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

93.3

29076

1.6

0.8

1.5

14.0

9.0

12.1

0.17

EQUITY – FOCUSED FUNDS

Axis Focused Fund

51.5

9967

1.8

0.8

-1.6

11.2

6.5

11.5

0.10

EQUITY – LARGE CAP FUNDS

Axis Large Cap Fund

58.5

28661

1.6

0.7

0.4

11.5

8.7

12.1

0.18

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

32.5

2.0

1.0

3.2

7.3

5.7

6.5

0.23

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

31.9

392

1.1

0.2

4.0

7.5

6.7

6.4

0.50

EQUITY – MID CAP FUNDS

DSP Midcap Fund

148.8

17492

1.7

0.7

14.3

20.6

14.3

15.2

0.35

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

42.8

117

2.5

1.3

7.1

13.8

11.7

11.4

0.28

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HSBC Infrastructure Fund

48.5

2058

2.1

1.0

11.5

22.3

22.1

16.8

0.51

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

415.7

11342

1.7

0.7

22.0

26.3

18.8

17.2

0.43

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

193.6

470

2.5

1.4

5.7

12.8

9.7

9.5

0.27

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Financial Services Fund

21.4

239

2.5

1.2

7.8

11.8

12.1

10.2

0.26

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

144.7

915

2.2

1.1

-1.8

13.9

12.2

12.3

0.31

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

96.1

895

2.4

1.7

7.6

13.9

11.0

10.2

0.26

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

28.6

301

2.5

1.4

8.6

20.6

15.1

–

0.34

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

30.3

552

2.4

1.1

6.5

19.2

19.3

–

0.42

EQUITY – VALUE FUNDS

LIC MF Value Fund

25.7

181

2.5

1.4

14.8

17.5

14.7

–

0.33

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

21.2

456

2.4

0.8

-1.5

13.4

12.7

–

0.32

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

17.9

702

2.4

1.1

-0.3

6.5

4.3

–

0.04

EQUITY – FOCUSED FUNDS

Motilal Oswal Focused Fund

44.3

1332

2.2

1.0

15.2

11.4

8.4

11.4

0.15

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

35.1

267

2.3

0.5

6.1

12.9

13.2

0.31

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Conservative Hybrid Fund

60.7

932

1.9

1.1

7.8

8.4

8.1

5.7

1.01

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

16.4

850

1.6

0.5

4.8

7.6

4.9

0.43

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Aggressive Hybrid Equity Fund

126.2

190

2.3

0.8

1.6

10.1

8.5

8.8

0.21

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

327.8

501

2.4

0.9

1.3

10.2

9.2

10.4

0.21

EQUITY – VALUE FUNDS

Quantum Value Fund

119.4

1018

2.1

1.1

-0.1

15.6

12.7

11.7

0.38

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

19.5

118

2.4

0.5

0.4

10.5

9.4

–

0.18

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

134.5

810

2.3

1.1

3.8

15.7

13.7

14.9

0.42

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

41.1

9239

1.7

0.6

-2.7

11.2

9.2

14.8

0.19

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

219.2

306

2.7

2.6

13.6

11.7

10.0

0.28

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

285.4

1056

2.3

1.3

6.5

24.5

14.0

12.5

0.45

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

UTI Infrastructure Fund

143.6

1914

2.2

2.0

6.0

19.7

17.4

14.1

0.44

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

41.1

4762

1.7

1.1

0.3

8.3

6.9

7.5

0.24

EQUITY – THEMATIC – MNC FUNDS

Aditya Birla Sun Life MNC Fund

–

1268.2

3030

2.0

1.3

4.1

12.6

7.0

8.3

0.13

HYBRID – CONSERVATIVE HYBRID FUNDS

Bank of India Conservative Hybrid Fund

–

35.0

2.1

1.2

4.8

7.4

10.3

7.3

0.83

EQUITY – MULTI CAP FUNDS

Baroda BNP Paribas Multi Cap Fund

–

281.2

2861

2.0

0.9

4.8

18.1

16.7

14.5

0.41

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

37.9

11603

1.7

0.6

7.2

16.2

19.4

–

0.48

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

43.1

5108

1.8

0.5

8.4

19.6

19.8

–

0.49

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

20.4

2.5

1.5

2.8

10.9

9.6

–

0.26

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

18.9

2.4

0.9

3.6

12.5

10.9

–

0.25

EQUITY – VALUE FUNDS

Groww Value Fund

–

26.6

2.5

1.1

6.0

16.4

13.7

10.6

0.36

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

27.5

4238

1.9

0.8

14.8

20.9

16.5

–

0.35

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

816.5

14681

1.8

1.0

9.1

21.1

18.2

15.4

0.51

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

129.9

17664

1.7

0.5

2.8

19.0

15.9

15.6

0.41

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

16.4

327

2.3

0.7

0.2

9.4

7.1

–

0.28

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

121.9

3550

1.9

0.7

0.2

16.4

14.7

13.6

0.34

EQUITY – CONTRA FUNDS

Kotak Contra Fund

–

149.5

4679

1.9

0.6

7.5

19.6

16.7

16.2

0.46

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

82.9

2.3

1.4

3.2

6.3

5.5

6.3

0.25

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

27.9

2.4

1.3

4.7

9.6

7.6

6.7

0.30

EQUITY – FOCUSED FUNDS

LIC MF Focused Fund

–

20.2

146

2.4

0.5

0.1

9.7

10.3

–

0.25

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

28.4

2.4

0.6

0.8

20.1

10.5

–

0.32

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

22.3

653

2.4

0.8

0.3

13.2

11.5

–

0.30

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

36.2

5661

1.8

0.5

11.0

21.3

18.5

–

0.46

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

296.0

46321

1.5

0.7

8.4

21.3

21.7

15.8

0.61

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

50.1

1.3

0.6

3.6

6.6

6.7

7.0

0.50

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

100.8

5687

1.9

0.7

7.6

18.6

19.2

19.3

0.48

EQUITY – MULTI CAP FUNDS

Quant Multi Cap Fund

–

612.5

6574

1.8

0.7

2.9

12.8

14.1

17.1

0.33

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

374.8

43754

1.5

0.8

3.2

17.3

19.8

16.2

0.66

EQUITY – THEMATIC – MNC FUNDS

SBI MNC Fund

–

363.1

5329

2.0

1.3

5.7

8.0

9.3

10.7

0.23

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

31.5

2.4

0.9

4.0

11.3

9.1

9.6

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

20.5

2.3

0.7

1.2

10.6

9.4

–

0.18

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

29.3

1.1

0.8

-0.4

6.0

6.8

6.3

0.46

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

369.6

2525

2.0

0.9

5.1

16.6

15.7

14.9

0.41

EQUITY – VALUE FUNDS

Sundaram Value Fund

–

215.5

1212

2.3

1.7

3.4

12.6

12.3

11.6

0.33

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

20.6

8725

1.7

0.5

4.7

10.2

9.6

–

0.40

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Financial Services Fund

–

53.9

2.6

2.5

2.9

12.3

12.4

13.6

0.26

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

177.2

2.5

2.2

0.6

14.2

13.1

13.3

0.37

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Taurus Infrastructure Fund

–

64.9

2.5

4.3

18.0

15.0

14.8

0.34

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

157.0

2.6

2.3

5.1

15.1

12.4

10.7

0.31

EQUITY – THEMATIC – MNC FUNDS

UTI MNC Fund

–

381.6

2428

2.1

1.3

7.4

12.5

10.6

10.1

0.27

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Marsons bags Rs 15-cr order from Inox Solar

Texmaco Rail & Engineering bags Rs 3-cr order from Modern Coach Factory

by Hansraj Agrawal | Apr 18, 2026 | Share Market

Last Updated : Apr 18 2026 | 5:51 PM IST

Texmaco Rail & Engineering announced that it has secured an order worth Rs 3.06 crore from Modern Coach Factory, Raebareli.

According to an exchange filing, the order is for the supply of bogie frame assemblies for non-AC air spring type LHB Fiat bogies. The contract is scheduled to be executed within 301 days from the date of order.

The company clarified that neither its promoters nor promoter group entities have any interest in the awarding entity, and the transaction does not qualify as a related-party transaction.

Texmaco Rail & Engineering (TEXMACO) is a listed company and part of the Adventz Group. Texmaco is a key player in the railway and infrastructure sector. It operates across three business segments: Freight Cars, Rail Infrastructure & Green Energy, and Infrastructure Electrical.

The company reported a 44.65% decline in consolidated net profit to Rs 42.27 crore in Q3 FY26, compared to Rs 76.38 crore posted in Q3 FY25. Revenue from operations fell 21.45% year-on-year (YoY) to Rs 1,041.59 crore in the quarter ended 31 December 2025.

The counter advanced 2.35% to Rs 106.03 on the BSE.

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

First Published: Apr 18 2026 | 5:50 PM IST

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ICICI Bank records PAT of Rs 13,702 crore in Q4; board OKs dividend of Rs 12/share

by Hansraj Agrawal | Apr 18, 2026 | Share Market

ICICI Bank has reported 8.5% rise in standalone net profit to Rs 13,702 crore in Q4 FY26 from Rs 12,630 crore in Q4 FY25.

Net interest income (NII) increased by 8.4% year-on-year (YoY) to Rs 22,979 crore in Q4 FY26. Net interest margin was 4.32% in Q4 FY26 as against 4.41% in Q4 FY25.

Non-interest income added up to Rs 7,415 crore (up 5.6% YoY) and fee income aggregated to Rs 6,779 crore (up 7.5% YoY) during the period under review.

Operating expenses increased by 12.05% YoY to Rs 12,089 crore in Q4 FY26 from Rs 10,789 crore in Q3 FY25.

Provisions (excluding provision for tax) decreased to Rs 96 crore in Q4 FY26 from Rs 891 crore in Q4 FY25, reflecting healthy asset quality and higher recoveries and write-backs.

Profit before tax in Q4 FY26 stood at Rs 18,103 crore, up by 7.9% from Rs 16,773 crore in Q4 FY25.

Total advances increased by 15.8% year-on-year to Rs 15,53,893 crore at 31 March 2025. Total period-end deposits increased by 11.4% year-on-year to Rs 17,94,625 crore at 31 March 2025.

With the addition of 126 branches during Q4-2026 and 528 branches in FY2026, the bank had a network of 7,511 branches and 12,087 ATMs & cash recycling machines at 31 March 2026.

The gross NPA ratio was 1.40% on 31 March 2026 compared to 1.53% on 31 December 2025 and 1.67% on 31 March 2025.

The net NPA ratio was 0.33% on 31 March 2026 compared to 0.37% on 31 December 2025 and 0.39% at 31 March 2025.

The bank has written-off gross NPAs amounting to Rs 1,768 crore in Q4-2026. The provisioning coverage ratio on non-performing loans was 75.8% on 31 March 2026.

As on 31 March 2026, the bank held total provisions, other than specific provisions on fund based outstanding to borrowers classified as non-performing, amounting to Rs 22,710 crore or 1.5% of loans.

The banks total capital adequacy ratio as on 31 March 2026 was 17.18% and CET-1 ratio was 16.35% after reckoning the impact of proposed dividend compared to the minimum regulatory requirements of 11.70% and 8.20% respectively.

For FY26, the bank has registered net profit and net interest income of Rs 50,147 crore (up 6.18% YoY) and Rs 88,075 crore (up 8.51% YoY), respectively.

The board of the bank has recommended a dividend of Rs 12 per share for FY26. The record/book closure dates will be announced in due course.

ICICI Bank (IBL) is a systemically important private sector bank in India. With a presence in banking, insurance, asset management, investment banking and private equity, the ICICI Group is a large player in the Indian financial system.

The scrip had risen 0.15% to end at Rs 1347.50 on the BSE on Friday.

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