Union Budget’s infra boost puts bank stocks in sweet spot; Here’s what MFs are banking on

[ad_1]

Mutual funds focused on banking and financial services have gained the most since Budget 2023. Experts opine that Budget’s added thrust on infrastructure sector has cheered the banking stocks.



Among the equity mutual fund categories, Banking and financial services sector funds were ahead of the pack in terms of return after the Finance Minister unveiled Union Budget 2023 on 1st February. While there were no direct proposals to benefit these sectors, the announcements related to capex and other areas will have a rub-off impact on the banking industry. Kranthi Bathini, Equity strategist at WealthMills securities pvt ltd says, “This budget has a lot of emphasis on infrastructure and CAPEX spending. Both public sector as well as private sector banks lend money to a majority of these infrastructure projects.” An expected borrowing program also cheered the banking sector. Here is the list of banking and financial services stocks that were newly added by the most number of actively managed mutual funds schemes over the last three months. These fund houses are now expected to benefit from new additions in bank stocks. Data as of December 2022. Source: ACEMF


IndusInd Bank
No. of active schemes that newly added the stock: 39
Total no. of active schemes that hold the stock: 163
A sample of schemes that newly added the stock: Tata Quant, HDFC Business Cycle and Invesco India Largecap


RBL Bank
No. of active schemes that newly added the stock: 26
Total no. of active schemes that hold the stock: 41
A sample of schemes that newly added the stock: Quant ESG Equity, Tata Mid Cap Growth and Baroda BNP Paribas Banking and Fin Serv


HDFC Bank
No. of active schemes that newly added the stock: 21
Total no. of active schemes that hold the stock: 380
A sample of schemes that newly added the stock: Quant ESG Equity, IIFL ELSS Nifty 50 Tax Saver Index and HDFC Business Cycle



The Federal Bank
No. of active schemes that newly added the stock: 20
Total no. of active schemes that hold the stock: 118
A sample of schemes that newly added the stock: Canara Rob Mid Cap, Taurus Infrastructure and IDFC Midcap


Power Finance Corporation
No. of active schemes that newly added the stock: 17
Total no. of active schemes that hold the stock: 39
A sample of schemes that newly added the stock: Nippon India Quant, Kotak Multicap and JM Tax Gain


Axis Bank
No. of active schemes that newly added the stock: 15
Total no. of active schemes that hold the stock: 326
A sample of schemes that newly added the stock: SBI Multi Asset Allocation, Bank of India Small Cap and ITI Small Cap


Bank Of Baroda
No. of active schemes that newly added the stock: 15
Total no. of active schemes that hold the stock: 125
A sample of schemes that newly added the stock: Tata Quant, SBI Banking & Financial Services and Bank of India Large & Mid Cap Equity



Union Bank Of India
No. of active schemes that newly added the stock: 15
Total no. of active schemes that hold the stock: 21
A sample of schemes that newly added the stock: Quant Mid Cap, Tata Quant and Bank of India Mid & Small Cap Equity & Debt


State Bank Of India
No. of active schemes that newly added the stock: 13
Total no. of active schemes that hold the stock: 353
A sample of schemes that newly added the stock: Union Multicap, WOC Large Cap and HDFC Business Cycle


CreditAccess Grameen
No. of active schemes that newly added the stock: 12
Total no. of active schemes that hold the stock: 52
A sample of schemes that newly added the stock: Tata Mid Cap Growth, Union Multicap and LIC MF Multi Cap


Karur Vysya Bank
No. of active schemes that newly added the stock: 12
Total no. of active schemes that hold the stock: 39
A sample of schemes that newly added the stock: Baroda BNP Paribas Banking and Fin Serv, Tata Flexi Cap and UTI Multi Asset


Multi Commodity Exchange Of India
No. of active schemes that newly added the stock: 11
Total no. of active schemes that hold the stock: 59
A sample of schemes that newly added the stock: SBI Multi Asset Allocation, Bank of India Small Cap and ITI Small Cap


Bank Of India
No. of active schemes that newly added the stock: 10
Total no. of active schemes that hold the stock: 11
A sample of schemes that newly added the stock: Aditya Birla SL Equity Savings, PGIM India Equity Savings and LIC MF Multi Cap


[ad_2]

Source link

Related posts

Nayanthara: The Meteoric Rise from South to Bollywood and the Bhansali Buzz 1

“Kaala premiere: Stars shine at stylish entrance – see photos”

EXCLUSIVE: Anurag Kashyap on Sacred Games casting: ‘Every time…’