DELHI - MONDAY - FEBRUARY 3, 2025 ₹10 • Pages 14 • Volume 4 • Number 33

LOOKING AHEAD. FLYING HIGH.

Capex growth exceeds overall Budget size. New Udan routes may add
Focus has been maintained for the next year 20 lakh flyers in FY26 as Centre
too, says Expenditure Secretary Manoj Govil p6 targes revival of 13 airports p14
BENGALURU - CHENNAI - COIMBATORE - HUBBALLI - HYDERABAD - KOCHI - KOLKATA - MADURAI - MALAPPURAM - MANGALURU - MUMBAI - NOIDA - THIRUVANANTHAPURAM - TIRUCHIRAPALLI - TIRUPATI - VIJAYAWADA - VISAKHAPATNAM RNI No. UPENG/2022/86886

QUICKLY.
TRADE RELIEF.
‘Over 2 crore taxpayers will ‘₹18,000 cr outlay for
ship building policy,
Four aggregators
register on
e-Shram portal
Import duty cuts will
benefit US exports to India
benefit due to change in rates’ awaiting Cabinet nod’ for gig workers
Dalip Singh
New Delhi
GREEN IPOS. More green subsidiaries of CPSEs will enter stock market: Finance Secretary Abhishek Law
New Delhi
ferent. In other words, Four leading aggregators —
Shishir Sinha growth in terms of others India is in the advanced Urban Company, Zomato,
New Delhi should be seen from a busi- stages of setting up the Blinkit and Uncle Delivery —
New Delhi: Ahead of Prime
We are simply ness point of view. As of now, second phase of the Ship have registered on the e-
Minister Narendra Modi’s visit to Finance Secretary Tuhin making the new there is an aberration in ac- Building Financial Assist- Shram portal, joining an ini-
the US, the government has Kanta Pandey said on Sunday scheme more counting. Coming to corpor- ance Policy (SBFAP) with an tiative of the Ministry of La-
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slashed customs duties on not that over two crore people attractive. Further, it ate tax, we have assumed a outlay of around ₹18,000 bour and Employment to re-
just America’s iconic Harley will benefit from the changes buoyancy of 1.03 and in non- crore, Sarbananda Sonowal, gister themselves and their
Davidson motorbikes but also in slabs and rates under the is not necessary to do corporate tax, it is 1.42. This Union Minister for Ports, Sarbananda Sonowal, Union gig employees for availing
several other items of interest new income tax regime. In an anything regarding means corporate tax collec- Shipping and Waterways, Minister for Ports, Shipping social security benefits.
to American exporters. The interview with businessline, the old tax regime tion is growing according to told businessline in an exclus- and Waterways PTI The Ministry had last year
unilateral lowering of tariffs may he also revealed that more the GDP growth rate and we ive interview. rolled out a pilot project for
green subsidiaries of central TUHIN KANTA PANDEY expect earnings to pick up. The SBFAP 2.0, is “await- 30 per cent for green or tech- registering platform workers
help set a positive tone for
Finance Secretary
Modi’s meeting with US public sector enterprises ing Cabinet approval” and nologically advanced vessels. and aggregators on the e-
President Donald Trump. p6 (CPSEs) will enter the stock DISINVESTMENT PLAN will be financed entirely The subsidy rates will re- Shram portal, which was also
market. able on income up to ₹12 old tax regime. “We are fo- Pandey was DIPAM Secret- through budgetary support. main fixed throughout the meant to formalise the gig
“Nearly five crore people lakh (₹12.75 lakh for salar- cusing on a simple explana- ary before moving to the De- The new policy, men- scheme’s tenure, which is set economy. An aggregator
DIGITAL LEAP were benefiting because of ied) under the new regime. tion — you do not have to partment of Revenue just be- tioned by Finance Minister to run until March 2034, module, too, has been pi-
IndiaAI Mission gets rebates up to ₹7 lakh. As the Additionally, slabs and rates pay tax if your annual income fore the Budget. On the issue Nirmala Sitharaman in her those in the know said. loted, enabling digital plat-
₹2,000 cr Budget boost rebate has now been en- were adjusted across the is ₹12 lakh (₹12.75 lakh in of disinvestment, he said Budget speech, will offer forms to onboard them-
hanced to ₹12 lakh, add one board to benefit all taxpay- the case of a salaried indi- that there is a framework to subsidy on the contracted CREDIT NOTE selves and their workforce
Mumbai: India’s ambitions to crore more taxpayers to that ers. viduals). We are not making separate the green ventures price or fair value for vessels The SBFAP 2.0, Sonowal on India’s national database
launch its own foundational AI number. This means that “The new structure will things complicated by saying as a subsidiary for CPSEs. built in India over a 10-year said, will also push for ship- for unorganised workers.
model over the next 10 months nearly six crore taxpayers are substantially reduce taxes that you will get this much “We said if you want to time frame from 2024 to breaking. Under this, a credit The Ministry’s move was
has been backed by an outlay not required to pay income for the middle class, leaving relief under Sections 80C, raise money to create assets, 2034. “The policy proposes note of 40 per cent of the also captured in Budget
of ₹2,000 crore in the Budget. tax now. With the change in more money in their hands, 80D or 80CCD. Let’s not get then go to the market. Now, subsidies for specialised, ship’s scrap value will be is- 2025. Finance Minister
The allocation is considerably rates and slabs, over two thereby boosting household into micro-management of after NTPC, others are also green and other highly spe- sued to the ship owner when Nirmala Sitharaman, in her
higher than the ₹551 crore crore permanent taxpayers consumption, savings and individual behaviour,” he following the same model, cialised vessels while also in- their vessel is scrapped at an Budget speech on Saturday,
assigned to the Mission in will get the benefit,” Pandey investment,” she said. said. whether it is NHPC or NLC. cluding non-combat defence Indian yard. The note is re- announced that 1 crore gig
Budget 2024. p14 said. Further, he emphasised Indian Oil and ONGC can auxiliary vessels exported to imbursable against the cost workers would get access to
that out of the remaining TAX SIMPLIFICATION CORPORATE TAX also take the same route for friendly foreign nations,” of constructing a new re- healthcare under the PM Jan
permanent taxpayers, each When asked whether the old Non-corporate assessees in- some of their subsidiaries. Sonowal said. placement vessel if the latter Arogya Yojana.
Today’s edition carries one will benefit as rate trans- tax regime will die a natural clude trusts, firms, NGOs We have seen some progress For instance, under the is at an Indian shipyard. She also spoke about
five pages of Portfolio, mission will be for everyone. death, Pandey said: “We are and charitable institutions, in the case of NLC as they proposed policy, shipyards “We plan to set up a Na- measures to facilitate their
including Chart-Gazing, In her Budget speech, Fin- simply making the new apart from individuals. We have already set up a com- would receive around 20 per tional Shipbuilding Mission identification through
Take 500, Fund insight ance Minister Nirmala scheme more attractive.” will have to find a way for a pany. SJVN can also do the cent subsidies for standard for the implementation of unique identity cards and
and Star MF Ratings. Sitharaman announced that Further, it is not necessary separate challan for indi- same thing,” he said. ships, around 25 per cent for SBFAP 2.0,” he said. streamlining their registra-
no income tax would be pay- to do anything regarding the viduals as other rates are dif- Interview on p7 specialised vessels and about Interview on p8 tion on the e-Shram portal.

CM
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DELHI

businessline.
MONDAY - FEBRUARY 3 - 2025

VIEWSROOM. FinMin’s proposed revamp of model BIT may

NIRANJAN HIRANANDANI
Chairman – NAREDCO & Hiranandani Group
shorten wait for international arbitration
Budget fuels India’s SPEEDY RESOLUTION. Scope of investment protection may be widened in line with new India-UAE Bilateral Investment Treaty: Sources
economic engine Amiti Sen
“I think we will wait for the
Finance Minister to spell out
source said. India had unilat-
erally terminated its Bilateral
quirement is met if local rem-
edies are pursued within the
New Delhi what she has in mind. India Investment Protection stipulated three-year time, ir-
India’s Budget for FY26 emerges as a doesn’t make any policy Agreements (BIPAs) with 77 respective of any ongoing
transformative blueprint, placing the nation firmly The Finance Ministry’s based on somebody else’s de- countries, including the proceedings or pending
on a path towards transcending 8 per cent growth promised revamp of the mands. We are open to ideas European Union, and asked appeals.
and achieving a $5 trillion economy. At its core lies a model Bilateral Investment and suggestions. After that, them to renegotiate based on Moreover, the India-UAE
robust strategy centered on investments and fiscal Treaty (BIT) to make it more whatever is of national in- the model BIT but not too BIT explicitly includes port-
incentives aimed at boosting GDP growth, “investment friendly” may terest will prevail,” Com- many were keen. folio investments, which are
enhancing employment, boosting consumption include relaxed rules such as merce Minister Piyush Goyal “There is an expectation excluded under the model
capacity and ensuring sustainable development. shorter local remedies ex- told businessline when asked that the Finance Ministry BIT.
The Budget offers unprecedented clarity in the haustion period before in- about what changes the gov- may reduce the number of “Based on the India-UAE
arena of ease of doing business. By implementing vestors are allowed to seek in- ernment had in mind. years that foreign investors BIT and the demands made
tax rationalisation and streamlining processes, it ternational arbitration and a In her Budget speech on need to wait looking for a by other partners, it can be
lays out a framework to reduce the compliance broader definition and scope Saturday, Finance Minister local remedy to their dispute hoped that the scope of in-
burden. The incorporation of technology into these of investment protection, Nirmala Sitharaman said the before they can go for inter- vestment protection would
processes promises fiscal consolidation, sources said. current model BIT will be re- ADDED BENEFIT. Revamping India’s BIT is also likely to increase national arbitration, which is be widened,” the source said.
maintaining inflation at manageable levels and The Commerce & Industry vamped and made more in- the country’s leverage in the Free Trade Agreements it is at present fixed at five years. The model BITs exclusion
paving the way for potential interest rate Ministry has already given vestor friendly to encourage negotiating with various partners, including the UK and the EU The expectation is based on of key investor protections —
reductions. Such initiatives are poised to invigorate some recommendations to sustained foreign invest- the BIT that India has already such as ‘fair and equitable
consumption across various sectors, boosting the Finance Ministry on the ment. This was largely in re- signed with the UAE last treatment’ and Most-Fa-
economic momentum. measures to be tweaked to cognition of the fact that the strictive by India’s trading leverage in the Free Trade year,” the source said. voured Nation status — left
The real estate and infrastructure sectors stand make the model BIT more ac- model BIT, approved in 2016 partners. Agreements it is negotiating The 2024 India-UAE BIT India with an investment
to gain significantly from the Budget, with a focus ceptable to other countries following adverse arbitration with various partners includ- has reduced the time period treaty framework that was
on harmonising democracy, demography, and based on its interactions with rulings in high-profile cases LEVERAGING FTAS ing the UK and the EU, which to pursue local legal remedies out of sync with global best
demand. Infrastructure enhancements are central, foreign governments and in- such as Cairn Energy and “Revamping India’s BIT is had also been pushing for less to three years. practices, said Ajay Srivastava
with incentives for vestors, a source said. Vodafone, was seen as too re- also likely to increase India’s restrictive conditions,” the It also clarified that this re- from GTRI.
The middle purchasing a second
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flat encouraging real
class, a crucial estate investments.
economic
driver,
The introduction of
SWAMIH Fund 2.0
addresses stalled
Govt rejigs Customs duty to strengthen ₹20,000 crore Nuclear
benefits projects, easing the
burden on component ecosystem for LED TVs, IFPDs Energy Mission announced
enormously homebuyers.
Additionally, the for R&D in small reactors
from tax increase in TDS on Meenakshi Verma Ambwani
said that the reduction in BCD
for open cell parts for LED
incentives rentals to ₹6 lakh is
expected to fortify
New Delhi televisions will only benefit M Ramesh
Chennai
rental investments. certain players.
The Budget also In a bid to strengthen ‘Make- Avneet Singh Marwah,
in-India’, the government has CEO, SPPL, a Kodak and Finance Minister Nirmala
encourages mergers and acquisitions to initiate new Sitharaman, in her budget
real estate projects under innovative business decided to exempt parts used Blaupunkt brand licensee,
to manufacture open cells of said, “This is applicable only speech, announced a ₹20,000
models. Nevertheless, the lack of significant actions crore Nuclear Energy Mis-
towards affordable housing poses challenges for panels of LED TVs from basic to industries with bonded
customs duty (BCD) and re- manufacturing plants and cre- sion for R&D into small re-
inclusive growth. actors and reiterating the If India achieves 22,480 MW by
As of 2023, the construction sector has seen duced the BCD on open cell ates an uneven playing field
and other components used for TV manufacturers without (new) target of 100 GW of in- 2031-32, it would need to add
significant growth, expanding from 40 million LIMITED IMPACT. Industry players said reduction in BCD for stalled nuclear power capa- 77,520 MW in 15 years
workers in 2013 to 71 million. However, 81 per cent to make interactive flat panel open cell parts for LED televisions will only benefit certain players access to such facilities. For
displays to 5 per cent. How- true growth, these benefits city by 2047.
of this workforce remains unskilled. Currently, only The government wants to in nuclear energy. By all ac-
13 million workers are skilled. By 2030, the sector is ever, the duty on IFPD has should be extended more
been doubled to 20 per cent. sion, which is coming up in been corrected and will spur equitably across the sector.” operationalise five small counts, this will be done.
anticipated to employ 100 million individuals, modular reactors (SMRs) by Amending the Civil Liabil-
requiring 33 million skilled workers. This Sunil Vachani, Chairman, Noida region.” manufacturing of IFPDs in In- Arjun Bajaj, Director of
Dixon Technologies, told busi- dia.” Videotex, added, “The exemp- 2033. To enable private sec- ity for Nuclear Damage
underscores a looming gap that could rise to 20 tor participation in SMRs, (CLND) Act is contentious
million if not addressed promptly. Economic and nessline, “To deepen the man- DUTY STRUCTURE Manish Sharma, Chairman, tion of BCD on parts of the
ufacturing for components The parts exempted from Panasonic Life Solutions In- panel is a welcome move, the government also intends and calls for tip-toeing
fiscal policies must be urgently aligned to bridge to amend the Atomic Energy through a legal minefield.
this skill gap vital for GDP growth. for LED televisions, the gov- BCD include chips on film, dia & SA, said, “Aligning inver- though it should be noted that
ernment has decided to re- PCBA and glass board or sub- ted duty structure and the in- there is only one facility in In- Act and the Civil Liability for The very mention of the
duce the BCD on parts for strate cells used in manufac- crease in BCD on interactive dia with limited capacity to Nuclear Damage Act. amendment has got the Op-
MIDDLE-CLASS EMPOWERMENT The Budget announce- position up in arms; Con-
The middle class, a crucial economic driver, benefits open cell from 2.5 per cent to turing open TV panel cells. flat panel displays from 10 per process these parts.”
zero. With this, there is a clear Vachani said, “IFPDs are used cent to 20 per cent will en- “The ongoing reliance on ments can be broken into gress leader Jairam Ramesh,
enormously from tax incentives. With a 40 per cent three elements — the target, has already posted on X, say-
increase reported in retail home loan portfolios arbitrage of 5 per cent across boardrooms and hance manufacturing in India. imported open cells, due to a
wherein parts of the display is classrooms and is a fast grow- Reduction of duty in compon- lack of local manufacturing SMRs and the amendments ing, “To appease Mr Trump,
post-Covid, the potential reduction in home loan to the nuclear law. the FM announces that the
interest rates will sustain this burgeoning demand. at zero and open cell display is ing market estimated about ents for manufacturing open capacity, remains a critical
at 5 per cent. This will encour- ₹7,000 crore. But the sector cell is also in the direction to- challenge. A more substantial Act will be amended.”
Personal income tax relaxations enhance liquidity ‘100 GW BY 2047’ The CLND Act is meant to
for the middle class, stimulating consumption and age manufacturing of open was facing an inverted duty wards making a robust manu- reduction in BCD — perhaps
cell display models in India. structure where the compon- facturing base for LCD/LED on more components — could The ‘100 GW by 2047’ is a re- govern who will pay in the
boosting the housing sector. iteration of the latest target case of a nuclear mishap —
We are putting up a plant to ents were at higher duty than television panels in India.” have better supported the sec-
make display panels for televi- the finished product. That has But some industry players tor’s growth,” he said. the government has been the government, the plant
LOGISTICS HUB speaking about in recent operator or the equipment
The Budget’s focus on creating logistical hubs times. But nuclear power ca- supplier. As it stands today,
through fostering infrastructure development,
improving last-mile connectivity and incentivising
the ‘Make in India’ force via the PLI scheme offers a
comprehensive approach to augmenting
Vedanta demerger: Company to seek pacity targets have been
swinging wildly over the last
several years. Earlier, former
Prime Minister Manmohan
the operator’s liability is
capped at ₹500 crore, beyond
which the government will
pay. The international Con-
commercial and industrial real estate segments.

GIG ECONOMY
approval soon from lenders, investors Singh used to speak of 35 GW
by 2022 and 60 GW by 2032.
Then, under the new govern-
vention on Supplementary
Compensation (CSC) for
Nuclear Damage says that
Amidst evolving employment landscapes, the focus cent and investment made in of ₹11,284 crore, the highest ment, the target was revised the operator’s liability is “ab-
extends to supporting the gig economy with Suresh P. Iyengar the company’s shares had in the last eleven quarters. to 63 GW by 2032. However, solute”. The operator (which
investments in logistics, manufacturing and Mumbai grown five times in the last the target was revised down- has been the public sector
emerging sectors. Measures to support gig workers, five years. NET PROFIT wards to 22,480 MW by 2031- NPCIL) is allowed to add a
coupled with a renewed focus on education, AI and Vedanta plans to seek share- He also emphasised the Vedanta posted a net profit of 32 (Rajya Sabha, August 8, clause in the agreement with
upskilling, aim to foster an ecosystem ripe for holders’ approval to split the company’s efforts to ₹4,876 crore, up 70 per cent 2024). Alongside, the govern- the equipment supplier for
innovation and growth. company’s businesses into strengthen businesses to de- from the same period last ment began speaking of “recourse”, which global
The FY26 Budget outlines a growth-oriented five entities and list them in- liver strong growth. year, while its net debt to 1,00,000 MW by 2047. equipment suppliers, such as
blueprint, fostering inclusive economic growth and dividually on the exchanges. “Anyone who had invested EBITDA ratio was 1.4 times — Today, India has nuclear Westinghouse, do not like. In
enhancing the global competitiveness of India’s The company has also de- in Vedanta at the start of the the lowest in the past seven power capacity of 8,180 MW. the absence of such a clause,
economy. By increasing the FDI limit in insurance livered the highest dividend past five-year period would quarters. If India achieves 22,480 MW the equipment supplier be-
and supporting greater capital flows into real estate, yield among its peers. Anil Agarwal, have seen their investments “Post-demerger, every Ved- by 2031-32, it would need to comes liable only if the mis-
the Budget underscores its commitment to Last September, the com- Chairman, Vedanta Group multiplying over 4.7 times anta shareholder will receive add 77,520 MW in 15 years — hap could be traced to a fault
becoming an integral part of the global economic pany decided to demerge its during this time, both in an additional share in each of a tall order, going by India’s in the equipment.
landscape. Through a light-touch regulatory business into six entities for terms of capital appreciation the four newly demerged nuclear power track record. The government is also re-
approach, it promotes greater corporate listing. In a letter to shareholders, and cash dividends returned,” companies — Vedanta Alu- ported to be thinking of set-
efficiencies, transparency and faster clearances. However, last month it de- Anil Agarwal, Chairman of he said. minium, Vedanta Oil & Gas, NUCLEAR LAW ting up a Nuclear Audit Au-
Fiscal prudence through tight deficit targets crafts a cided not to spin off the base Vedanta, said the company’s The communication comes Vedanta Power and Vedanta The Atomic Energy Act needs thority, which might need to
well-rounded, promising future for the Indian metal business till it achieved wealth creation and dividend after the company delivered a Steel and Ferrous Metals,” he to be amended to allow be anchored in some legislat-
economy. the desired scale. yield was the highest at 81 per record third quarter EBITDA said. private sector participation ive provision.

‘Enhancing investment, turnover limits VC start-up funding up 43% at $11.3 b WeWork files for IPO, to
for MSMEs a boost to textile industry’ The average size improved,” he added.
shed 4.4 cr shares via OFS
man, MATEXIL (Manmade KV Kurmanath Some of the notable VC transferable and exclusive
Our Bureau and Technical Textiles Ex- Hyderabad of VC deals rose funding deals announced in right to sell goods, supplies
Our Bureau
Mumbai port Promotion Council), to $10 million India during 2024 include
Mumbai
and materials bearing the
said that over 80 per of the Shrugging off a funding the $665 million, $350 mil- trade name, logo, symbol,
The revision in classification textiles sector operates winter, Indian start-ups wit- from $7 million lion and $340 million se- design, slogan, trademark or
of MSMEs announced in the within MSME clusters, and nessed an infusion of $11.3 and the number of cured by Zepto in three fund- WeWork India has filed the service mark owned, li-
Budget will be a blessing in this revision would empower billion in 2024, up 43 per deals of $100 ing rounds, Meesho raising draft prospectus with SEBI censed or used by WeWork
disguise for the textile in- these units to achieve scale, cent from $7.9 billion in $300 million, PharmEasy se- for its initial public offer Global within licensed loca-
dustry, which is dominated enhance competitiveness 2023. India accounted for 7.1 million or more curing $216 million, and (IPO), which will be entirely tions in India. WeWork In-
by small businesses.
Finance Minister Nirmala
and contribute significantly
towards making India a
per cent of venture capital
deal volume globally in 2024
increased to 21 PhysicsWallah $210 million. through an offer for sale of
up to 4.4 crore shares.
dia, majority owned by the
Embassy group, provides
Sitharaman had announced, global manufacturing hub against 5.5 per cent in 2023. from 14 STRONG REBOUND The offer for sale com- flexible workspaces to a di-
“To help MSMEs achieve to ₹500 crore from ₹250 for textiles. The share of total dis- “India’s strong rebound in prises up to 3.35 crore shares verse range of customers.
higher efficiencies of scale, crore. The Budget has intro- closed funding value in- GlobalData. “The dent in in- VC funding activity reflects by promoter selling share-
technological upgradation duced important amend- creased to 4.2 per cent from vestor sentiment that the growing investor confidence holder Embassy Buildcon
and better access to capital, IMPROVE ACCESS ments in the basic customs 3.3 per cent. Both the aver- market experienced for the and the market’s resilience. LLP and up to over 1 crore
the investment limit will en- To improve access to credit, duty rates on knitted fabrics, age size of VC deals and deals past few years seems to have The rise in big-ticket deals shares by investor selling
hanced 2.5 times and the the credit guarantee cover covered under nine tariff beyond $100 million surged faded with the renewed ap- and the increase in India’s shareholder 1 Ariel Way Ten-
turnover limit two times for will be enhanced for Micro lines. The revised rates have to 21 from 14 in the previous petite for big-ticket deals, share of global VC invest- ant. Since the entire issue is
classification of all MSMEs.” and Small Enterprises from been changed from 10 per year. The average VC deal further underscoring this re- ments highlight the coun- through OFS, the company
For small enterprises, the ₹5 crore to ₹10 crore, leading cent to “20 per cent or ₹115 size rose to $10 million from covery,” Aurojyoti Bose, try’s expanding influence in will not receive anything
investment limit has been to additional credit of ₹1.5 per kg, whichever is higher”. $7 million. Lead Analyst at GlobalData, the start-up ecosystem,” from the proceeds of the of-
enhanced to ₹25 crore from lakh crore in the next five Also, two more types of The number of deals val- said. Bose said. “As investor senti- fer. It is the exclusive li-
₹10 crore and turnover to years. shuttle-less looms have been ued at $100 million or more ment continues to improve, censee of the WeWork brand
₹100 crore from ₹50 crore. The investment limit to be added to the list of fully ex- increased to 21 from 14 GROWING SHARE India seems to be well-posi- in India under the terms of
For medium enterprises, the classified as micro enter- empted textile machinery. while the total number of “It is noteworthy that, tioned to attract further an operations and manage-
investment criteria has been prises has been enhanced to These moves would enhance deals rose by 6 per cent to driven by the improvement funding and drive innovation ment agreement (OMA)
increased to ₹125 crore from ₹2.5 crore from ₹1 crore. the textile sector’s export 1,168 (1,102), according to in funding activity, India’s across key sectors,” he with WeWork International.
₹50 crore and turnover limit Bhadresh Dodhia, Chair- competitiveness, he said. data and analytics company share in the global space has added. The OMA grants it a non-
CM
YK ... . . . . . . ND-NDE
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DELHI

businessline.
MONDAY - FEBRUARY 3 - 2025

We have heard the voice of the

middle class: Finance Minister
PEOPLE POWER. Budget is by the people and for the people, says Nirmala Sitharaman
8.65 crore income tax return
Press Trust of India filers. The number swells to
New Delhi over 10 crore after people
with TDS liability but not fil-
Finance Minister Nirmala ing returns are included.
Sitharaman on Sunday de-
scribed the Budget being “by CAPITAL SPENDING
the people, for the people, of Sitharaman defended the
the people”, and said Prime modest increase in capital
Minister Narendra Modi was spending at ₹11.21 lakh
fully behind the idea to cut crore in the next financial
taxes for the middle class but year compared to ₹10.18
it took time to convince the lakh crore in the current
bureaucrats. fiscal, saying the quality of
“We have heard the voice spending has also to be seen.
of the middle class” who had “If we are looking at the
been complaining about numbers — because we’ve
their aspirations not being got used to 16 per cent, 17
met despite being honest per cent increase (in capital
taxpayers, she told PTI in an (The new rates would) substantially reduce the spending) every year from
interview. With the taxpay- taxes of the middle class and leave more 2020 — and saying you have
ers also wanting the govern- money in their hands, boosting household not increased it by that num-
ment to do more to limit the consumption, savings and investment ber in the Budget, I would
impact of inflation, the equally want to ask you to
Prime Minister was quick to NIRMALA SITHARAMAN please look at the way in
task Sitharaman to look at Finance Minister which the quality of spend-
ways to give relief. ing has happened, particu-
While Modi was quick to larly capital expenditure,”
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agree, it took a bit of convin- and 2023. “I think the Prime be a bit more user-friendly. she said.
cing to get on board officials Minister put it succinctly, “It wasn’t talking about She was also appreciative
in the Finance Ministry and when he said it’s the people’s rate restructuring, although of the States which received
the Central Board of Direct Budget, it is the Budget for several years now we the 50-year interest-free
Taxes (CBDT), she said. which the people wanted.” have been looking at ways in share of the money which
Sitharaman on Saturday Asked to describe the ethos which the rates can be a lot went from the Central gov-
announced an increase in the of the Budget in her own more taxpayer friendly. And ernment’s side as capital
personal income tax words, she said, “As they say therefore, that work was also expenditure.
threshold to ₹12 lakh, up in democracy in Abraham going on,” she said. “Equally, “They have also shown
from ₹7 lakh, as well as a rejig Lincoln’s words, it is Budget after the July budget, there very great interest in capital
in tax brackets that would by the people, of the people, was this voice of the middle expenditure and the quality
help those earning higher for the people.” class, which felt that they of expenditure, therefore,
than that to save up to ₹1.1 Sitharaman said the new were paying tax... but also has been very good. At the
lakh. rates would “substantially felt they don’t seem to have same time, last year we
reduce the taxes of the much in the way of redress- touched ₹11.11 lakh crore
TAX RELIEF middle class and leave more ing their problems.” and this year building on it, it
The ₹5 lakh hike in exemp- money in their hands, boost- The Finance Minister said is about ₹10.1 lakh crore over
tion limit is the biggest ever ing household consumption, the Prime Minister meets the revised estimate (RE),
and equals all the relief that savings and investment.” and listens to the voices of which is far more realistic,”
were given between 2005 Explaining the thought people from different sec- she said. The spending in
that went behind the big an- tors and industry leaders and FY25 was lower than the
businessline. nouncement, Sitharaman responds to their needs. budgeted ₹11.11 lakh crore
Disclaimer: Readers are requested to verify said the tax cuts were in the Stating that an attempt as four months were due to
& make appropriate enquiries to satisfy
themselves about the veracity of an works for some time. One of had always been to widen the the General Elections.
advertisement before responding to any
published in this newspaper. THG
the ideas was to make direct tax net, Sitharaman said the “But during that year, the
PUBLISHING PVT LTD., the Publisher & tax simpler and easier to efforts were to get more In- election year, which we’ve
Owner of this newspaper, does not vouch for
the authenticity of any advertisement or comply with. Work on this dians, who are in a position just completed, the capital
advertiser or for any of the advertiser’s
products and/or services. In no event can the
started in the July 2024 to pay, to come on board. expenditure did go a bit slow.
Owner, Publisher, Printer, Editor, Director/s, Budget and now a new law is That attempt of widening Otherwise, my RE would
Employees of this newspaper/company be
held responsible/liable in any manner on the anvil, which will sim- the tax net is a continuous, have also been closer to the
whatsoever for any claims and/or damages plify the language, reduce ongoing exercise, she said. budget estimate (BE) num-
for advertisements in this newspaper.
the compliance burden and Currently, there are about ber again,” she added.

CM
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DELHI

businessline.
MONDAY - FEBRUARY 3 - 2025

MONDAY - FEBRUARY 3, 2025

A Budget in challenging times
For the first time since 1997, the middle class has been encouraged to consume more. But the proposals don’t go far enough
Prudence pays LINE&
LENGTH.
Fiscal frugality essential for financial stability
TCA SRINIVASA RAGHAVAN

T
tringent adherence to fiscal consolidation

S
his year’s Budget was made
targets has been one clear area of focus for the in one of the toughest
environments. There are
NDA regime in its successive Budgets, which both domestic and foreign
have otherwise tried to juggle one-too-many constraints.
objectives. In the latest one, the fiscal deficit has been The only question before the Finance
Minister, apart from procedural and
contained at 4.8 per cent for FY25 despite nominal allocative changes, was how to increase
GDP growth undershooting estimates at 9.7 per cent consumption. She had to do it without
(10.5 per cent assumed). The deficit target for FY26 giving up too much tax revenue and give
growth a chance by changing the mood
has been pegged at an even tighter 4.4 per cent despite in the country.
the ₹1 lakh crore giveaway to personal taxpayers. In the event, she has produced a
Budget that will not achieve this
The Statement of Fiscal Policy objective in the measure required. Only
accompanying Budget documents suggests three Budgets in the last 40 years have
that the Centre will continue to be managed to do that, in 1985, 1992 and
1997.
tightfisted. It has laid down the ambition of The Modi government had a golden
trimming the Centre’s debt-to-GDP ratio opportunity this year to do the same
from the current 57.1 per cent to about 50 thing but the suit-boot ki sarkar Congress
per cent by 2031. Critics have questioned the jibe of 2014 still rankles. So it has once
again avoided a sensible but politically
need for such frugality when economic hard decision. It has refused to take any
activity is sluggish. However, fiscal political risk. TAX SOPS. The big question now is whether the middle class will spend the extra disposable income VELANKANNI RAJ_B
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consolidation is absolutely necessary for The Finance Minister said “For
India’s financial stability and the health of its someone earning ₹8 lakh, this means an
bond markets. Much of India’s economic additional ₹1 lakh to spend; for those For the Indian lower middle class it’s For a government that's desperately segments of the voting public and spend
earning ₹12 lakh, nearly ₹2 lakh more; very high, certainly more than 0.50. A in need of money the correct policy is to money where it should be spent. But the
rebound post-Covid has been driven by the and for those with an income of ₹24 high MPS isn’t a bad thing provided the sell off the land of deadwood units while most important bit is that, for the first
government ratcheting up its capital lakh, about ₹2.4 lakh extra.” savings are originating in the upper end. continuing to pay the few remaining time since 1997 the Budget explicitly
expenditure. But government-driven capex She has, if I may, put fuel in two employees till the end of their lives. The tries to please the middle class.
is now beginning to undershoot targets, wheeler tanks when it’s the four BAD POLICY employees have a right to livelihoods, About time, too, since this is the class
wheelers that need refuelling. The other extremely worrying bit is the not assets of the companies they work that pays income tax. But let’s also not
making it the right time for the private sector She has doubtless reduced the tax about turn on PSUs. The BJP was all for for. forget that maybe only 10 per cent of it
to pick up the slack on fixed capital burden for a lot of people. But these dismantling it and had even come out Apparently there are technical does. Indeed, if 100 per cent of
formation. A conservative borrowing aren’t the spending classes. They save with a policy a few years ago. But now difficulties in that many of these units agricultural income is not taxed, 90 per
calendar allows the Centre to get out of the more precisely because they are middle thanks, I am certain, to RSS pressure, the stand on land for which there are no cent of income that would qualify as
class. That plus the fact that it’s not as if Modi government has chosen to throw extant papers. Most were leased — read middle class income isn’t, either, at least
way of private enterprises looking to raise they will spend only on things. Chances good money after bad. donated — from state governments. But not by the government. But many of
capital from the bond markets or banks are they will spend more on school and The Budget says nearly ₹15 lakh crore surely this is not an insurmountable these people do pay an informal tax to
looking to use their funds to bankroll credit. doctors fees. will be thrown away. Not all of it will be problem especially if an arrangement for the tax inspectors.
It is thanks to strict adherence to deficit The Finance Ministry is unable to wasted of course. But a third will be, you sharing the proceeds of the land sales is Last but not least, while everyone is
targets that the government has managed to build sociological factors into its can rest assured. This is welfare by other arrived at. complaining about the Budget largesse
budgets. There is a much greater means. But as always the Modi government to Bihar, let’s not forget the election in
trim its market borrowings in absolute dependency ratio now comprising the which is never afraid of tough political Delhi on February 5. A very large number
terms, from ₹11.77 lakh crore in FY24 to young and the old and the unemployed. The Finance Minister decisions — 370, triple talaq, wakf, CAA of the beneficiaries of the tax
₹11.62 lakh crore in FY25, with a target of There are also a lot more fixed costs like — gets cold feet when economic announcements live in Kejriwal’s
₹11.53 lakh crore in FY26. Lower borrowings transport, communication and has doubtless reduced decisions are concerned. Clearly, when constituency. That’s what I like most
also have the effect of moderating
entertainment that keep increasing. the tax burden for a lot of decisions that affect Muslims are about this Budget.
Also, spending and consumption are concerned the RSS approves but not He is facing anti-incumbency anyway.
government security yields which set the as much about money as about people. But these aren’t the when economic ones have to be taken. The tax reliefs may well be an
floor for interest rates in the market. Fiscal aspirations. And that’s where the idea of spending classes. They save insurmountable challenge. Worse, he
marginal propensity to save comes in. It THE GOOD BITS can’t complain to the Election to
frugality may just have smoothened the path
tells us how much of an extra rupee of more precisely because That said, there are a lot of good Commission because the tax relief is not
for the Monetary Policy Committee to income will be saved. they are middle class changes, too, that aim to please different specific to his New Delhi constituency.
consider easing rates in its upcoming meets.
This apart, the Centre has announced the
constitution of the 8th Pay Commission

Tax sops, a response to demand constraints

recently, which can be expected to
significantly bloat government revenue
expenditure. The 7th Pay Commission,
whose term ends in December, has
contributed to a 24 per cent increase in the But whether the Budget’s tax relief to a small section of the population will revive demand remains to be seen
wage bill. As the impact of the 8th Pay panel
may begin to bite from FY27, the Centre is compulsion that the government faces CAPEX CONUNDRUM
Biswajit Dhar to bolster demand. According to the Controller General of
perhaps creating headroom without
The government seems to have finally Accounts, the government’s capital
upsetting fiscal math.

T
he personal income tax admitted that demand deficiency is spending during April-November during
Finally, government actions on running up concessions announced by indeed a problem that needs to be FY25 was more than 12 per cent below
large deficits are no longer watched only by Finance Minister Nirmala corrected before the growth slowdown the corresponding period in the
domestic institutions and investors. With Sitharaman in her 8th budget would deepens further. previous fiscal year. The Finance
undoubtedly be the most significant Last month, the National Statistics Minister informed today that for the full
the opening up of domestic bond markets to talking point. The increase in the “nil Office had unveiled first advance year, capital spending could be more
foreign investors and the inclusion of Indian slab” rate from ₹7 lakh to ₹12 lakh for estimates of the GDP for the 2024-25 than 9 per cent less than the budgeted
gilts in global benchmarks, Foreign Portfolio salaried class would put increased fiscal showing that the economy could figure.
Investors (FPI) now have a much bigger say purchasing power in the hands of the grow at 6.4 per cent, nearly 2 per cent The Indian economy has struggled
BUDGET. More disposable income
middle class which, according to the slower than that in the previous year. with demand deficiency for several years
in domestic bond movements. Signs of fiscal Finance Minister, is in “recognition of /ISTOCKPHOTO
now, and the question is whether the tax
profligacy can prompt FPIs to vote with their their contribution” in “nation building”. SALES SLIDE spending. In her previous Budget sops offered to less than 5 per cent of the
feet, which can spike up yields and This is largely true as taxes on income By the end of 2024, there were clear speech, the Finance Minister had argued country’s population would be enough
destabilise the Rupee. The Centre must have are projected to contribute to more than indications that a demand slowdown that significant investment her to inject sufficient demand, and to thus
been aware of this risk in the current global a third of the gross tax revenue for the was adversely affecting the Indian government made over the years in ensure a sustained level of growth in the
first time (up from 32.7 per cent in FY25 economy. Sales of products ranging building and improving infrastructure ensuing years.
milieu, where Trump’s whimsical ways have to 33.7 per cent in FY26). from cars to biscuits decreased. had a strong multiplier effect on the It may be argued that the even after
resulted in heightened volatility in FPI flows. In other words, the middle class Automobile sales were on a declining economy, implying that this move had the tax payers get the benefit, their
would be taking the significantly large trend since the end of 2023 but after the injected demand into the economy. purchasing power may not be unleashed
burden of supporting government middle of 2024, the decline became Earlier, she had contended that on the market instantly as inflationary
finances during the next fiscal year, up steep. increased public investment would help expectations have been a major worry
FROM THE VIEWSROOM. by more than 3 percentage points since By December 2024, automobiles sales crowd-in private investment, thus for the consumers.
2023-24 (income tax was 30 per cent of dipped to negative territory on a putting the economy on a sustained This has been substantiated by RBI’s
gross tax revenue). Income tax payers year-on-year basis. FMCG companies, growth path. consumer confidence survey, which
have been filling up the government on the other hand, are expected to However, government’s substantial reported that in November 94 per cent
Ranji Trophy blues coffers more than they have done in the register low single digit growth in their capital expenditure did not quite of the consumers had negative
past. revenues as they hiked prices of their encourage private sector investors, expectations about price rise.
But what happened after that While the government would take products due to rising cost of inputs. much like the way handy tax breaks that Clearly, the government needed to be
B Baskar plenty of credit for reducing the burden Given this slack in consumer demand, Sitharaman had provided in 2019 did not more forthright in its efforts to
was even more incredible. Soon
of direct taxes on over 10.45 crore tax the Finance Minister has made a make them move. overcome demand deficiency, to create

A
fter the recent debacle in after Kohli’s departure the crowd
Australia, the cricketing quickly evaporated as it didn’t payers in the country (7.28 crore significant course correction in her While subdued private sector conditions for generating decent jobs.
establishment, players and have the time to see Ayush Badoni income-tax returns were filed in 2024 Budget proposals today, trying to put investment has almost become a
the media have suddenly woken and Sumit Mathur stitch an and the rest were those from whom TDS money in the hands of the middle class pattern, in the current fiscal year, The writer is former Professor of Jawaharlal Nehru
up to the importance of Ranji important 133-run partnership was deducted), it must be pointed out through the tax sops instead of trying to government’s capital spending has also University and Distinguished Professor, Council for
Trophy, India’s premier first class which proved crucial for Delhi’s that this move was triggered by the create demand through capital been inadequate. Social Development
tournament. eventual victory.
The struggling Indian batters That cricket is a religion for
decided to turn out for their State most Indians is a cliche that has
sides to get into form. The most been done to death. But even the
talked about instance was that of most devout would struggle to BELOW THE LINE
Virat Kohli turning out for Delhi, recall the name of the reigning
after many years, against Railways Ranji champions (Mumbai, since “The comments from Indian being announced, executives might the state treasury. Even just over a humble fox nut bureaucratic
last week. This led to a huge frenzy you asked), spoilt as they are by corporate executives on Budget not have had sufficient time to decade ago, Congress would take “respect” .
among both the fans and the the deluge of international cricket. 2025 do seem to follow a familiar analyze the details and provide more away ₹2.6 lakh out of ₹12 lakh as tax. Expect meetings, reports, and
media. Huge crowds turned up The Ranji Trophy’s devaluation pattern, with phrases like nuanced comments. But hold on to your calculators — committees analysing the crispiness
just to watch Kohli bat at the nets started steadily since the 1990s "growth-oriented budget", "welcome It's interesting to note that these under the BJP government’s latest of each puff.
of the Ferozeshah Kotla ground. when the crowded international move", "positive sentiment", and clichéd responses can make it budget, that ₹12 lakh now comes With official branding, get ready for
On match day, according to media schedule forced international "boost to the economy" being challenging to gauge the genuine with a zero-tax guarantee. organic, premium,
reports, fans lined up out side the cricketers to skip it. To bring back commonly used. impact of the budget on the Yes, you read that right: your government-certified Makhana
stadium since early morning. The crowds to Ranji matches the BCCI These clichéd responses might be corporate sector.” hard-earned salary is apparently now hitting shelves with fancy price tags.
stadium that day was packed should schedule international META AI: Corporate confusion due to various factors, such as: So even Meta AI is finding it difficult immune to the taxman’s grasp. Is it Will it go global? Will Wall Street bet
REUTERS
(unheard of for a Ranji match) and fixtures in such a way that 1. Diplomatic language: Executives to assess the impact of Budget. fiscal wizardry, or just another twist on “Makhana futures”? Or will it just
some even cheered when Delhi international cricketers are might be avoiding any negative Modi regime tax magic in the political narrative? Only time mean another board with a swanky
batter Yash Dhull got out as Kohli available for their State sides at MetaAI is foxed too comments to maintain a positive In a recent political rally, PM Modi (and our next pay slip) will tell. office and endless chai breaks?
was next up. Unfortunately for least in the knock-out stages. Ranji Reactions from India Inc is a relationship with the government. served up a fiscal fairy tale. Picture Bihar’s Popcorn Moment! One thing’s for sure — Bihar’s
Kohli the outing was a largely Trophy can never compete with common feature post Budget. And 2. Standardized responses: this: In the days of Nehru, a ₹12 lakh Move over, Swiss chocolates and legendary snack just got an official
forgettable one — he lasted barely the glitzy IPL. But the devout today when everyone is talking AI, a Companies might have prepared salary would have lost a neat quarter Italian truffles — Bihar’s Makhana is upgrade. Now, let’s hope it doesn’t
for 15 balls, scoring 6, before his would still love to watch Jasprit scribe asked Meta AI why Indian templated responses to ensure to taxes. Fast forward to Indira about to get the VIP treatment! The become the next overcooked policy
off stump was disturbed by an Bumrah having a go at Virat Kohli corporates give cliched comments, consistency and avoid controversy. Gandhi’s era, and you’d be virtually government has announced a popcorn!
ecstatic Himanshu Sangwan. in a Ranji tie. this is the response: 3. Time constraints: With the budget donating ₹10 lakh of that income to Makhana Board, finally giving this Our Bureaus

Published by Nirmala Lakshman and Printed by Praveen Someshwar at HT Media Ltd. Plot No.8, Udyog Vihar, Greater Noida Distt. Gautam Budh Nagar, U.P.201306, on behalf of THG PUBLISHING PVT. LTD. Chennai-600002. Editor: Raghuvir Srinivasan (Editor responsible for selection of news under the PRP Act). ISSN 0971 - 7528

CM
YK . . . . . . . . ND-NDE
 books . bl . 5
DELHI

businessline.
MONDAY - FEBRUARY 3 - 2025

Eye on fiscal rectitude

However, Budget revenue figures are ambitious
7 steps to consumer connect
Aditi Nayar The book presents a simple branding framework to help entrepreneurs present their business proposition

A
midst global uncertainty their prospective consumers want, there The book Storybrand 2.0
the government presented BOOK REVIEW. is often silence in the room: ‘Well we
its Union Budget for think we know what they want but we is highly readable though
FY2026 with high expectations. Ambi Parameswaran are yet to speak with them about this it has clearly been written
The Revised Estimates (RE) great new product of ours!’ is the
as a quasi-promotion piece

S
for FY2025 revealed that revenue tories are universal. In every sheepish reply.
receipts mildly undershot the corner of the world humans for the business Donald
budgeted targets leading the have been telling stories that SEVEN STEP FRAMEWORK
revenue deficit to be higher than have been passed down Miller prescribes a simple seven step Miller runs (storybrand.ai)
expected (1.9 per cent of GDP vs generations to generations. framework that he calls SB7: In short ‘A
1.8 per cent). However, an Often the stories are very similar. The customer has a problem, meets a guide, stories and a more nuanced approach,
inevitable shortfall in capital situations may be different. who gives them a plan and calls them to the book Creating Signature Stories by the
expenditure helped to contain BUDGET. Prioritising fiscal The geographies may be different. action that helps them avoid failure and branding guru David Aaker is one that I
the fiscal deficit to an expected consolidationISTOCKPHOTO The cast of characters may be different. end in a success’. will definitely recommend. What is a
4.8 per cent of GDP, a shade But the underlying theme is pretty much Let me break that up and explain as signature story: It is an intriguing,
below the budgeted 4.9 per cent the same. presented in the book: A character (the authentic, involving narrative that
of GDP. In our view, the tax growth In his book Hero with a Thousand Faces customer is the hero not your brand); delivers or supports a strategic message
The Budget Estimates (BE) for appears a little optimistic, casting (and the companion book Hero’s has a problem (people buy solutions to clarifying or enhancing the brand vision,
FY2026 BE have placed the a pall on the credibility of the Journey), Joseph Campbell, problems, identify the problem and customer relationship, organisational
revenue and fiscal deficits at 1.5 overall fiscal math. author/academic, presents the 12 stages speak clearly in order to sell anything); values and/or business strategy.
per cent and 4.4 per cent of GDP, What if gross taxes were that most stories trace, referred to as the and meets a guide (customers are not The book Storybrand 2.0 is highly
respectively, which is a around ₹0.5 trillion lower than ‘story arc’: common elements of the looking for a hero, they are looking for a readable though it has clearly been
commendable degree of fiscal budgeted? This would imply a net hero's journey include the call to guide; the guide could be a product or a Title: Building a StoryBrand 2.0 written as a quasi-promotion piece for
consolidation. More importantly, tax revenue growth of 9.6 per adventure, refusal of the call, meeting consultant if you are running a Author: Donald Miller the business Donald Miller runs
the fiscal deficit target for cent, which seems more feasible. the mentor, crossing the threshold, consulting organisation); who gives (storybrand.ai) and at the end of every
FY2026 adheres to the extant Further, this entails a shortfall of tests, allies, and enemies, the approach, them a plan (customers trust a guide Publisher: Harper Collins chapter he suggests that the reader go to
medium term fiscal path, which around 0.1 per cent of GDP, inter the ordeal, the reward, the road back, the who gives them a plan); and calls them to Leadership the web site and apply what they have
had aimed to contain it below 4.5 alia implying a fiscal deficit of 4.5 resurrection, the return, and the action (customers need to be challenged Price: ₹484 learnt from the chapter to create a
per cent of GDP. per cent of GDP, our original freedom to live. and nudged to take action); that helps storybrand for themselves. Full
The FY2026 BE pencils in a forecast, instead of the budgeted All famous mythologies, Indian, them avoid failure (customers are trying disclosure: I too belong to the tribe of ad
ABOUT THE AUTHOR
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growth of 6.7 per cent in revenue 4.4 per cent of GDP. Greek, Norse or Chinese, fit this pattern. hard to avoid a tragic ending); and it professionals who wrote books to
spending and a higher 10.1 per Another what if scenario, this So do modern stories like Harry Potter ends in a success (never assume people Donald Miller is the CEO of promote their business (FCB Ulka
cent in capital expenditure. The time on the expenditure side. or the Star Wars series. understand how your brand can change Brand Building Advertising – Concepts
latter is budgeted to go up by ₹1.0 What if capex actually fell short of You can find this arc resonating in their lives for the better; tell them). StoryBrand and Business Made & Cases came out in the year 2000).
trillion to ₹11.2 trillion in FY2026 the FY2026 BE by a similar 0.1 per every Amitabh Bachchan, Rajinikant, The SB7 framework reminded me of Simple. He is the host of the Coach I am all with Donald Miller on his
BE from the pared ₹10.2 trillion cent of GDP, and came in around Vijay or MGR films too. what I use in my own brand training Builder YouTube Channel and is the pursuit for spreading his unique formula
in FY2025 RE, while remaining at ₹10.9 trillion instead, a trickle In his book Building A Story Brand 2.0, sessions: Brand Positioning Statement and also his search for new customers.
3.1 per cent of GDP. below our original projection of Donald Miller draws inspiration from (BPS). This statement does not start author of several books The book provides enough for you to
One quarter of this increase in ₹11.0 trillion. This can’t be ruled the ‘Hero’s Journey’ to present an with the product but with the consumer. apply its principles to your business. But
capex is coming from the interest out if the aforesaid ‘new schemes’ interesting way of looking at brand It does not glorify the product but if you had some spare cash ($39) then
free capital expenditure loans to aren’t unveiled expeditiously. communication. presents it as a solution to a problem business proposition to their you may want to read the book and also
the state governments. Their Coming back to the The first step is not to get obsessed being faced by the customer. And it prospective customers because SB7 has use the power of storybrand.ai to help
offtake is affected to a great borrowings based on the FY2026 with what you make; try to put yourself offers reasons to believe the claim. been tried and tested by thousands of reimagine your brand marketing
degree by the fine print, including BE, the gross and net dated in the shoes of the prospective If I were to create a BPS for SB7 it entrepreneurs’. strategies, from the smallest details to
the mix between untied and tied borrowings have been placed at consumer. Often when I meet my clients would be ‘For an entrepreneur who is the big picture.
loans and the conditions related ₹14.8 trillion and ₹11.5 trillion, they are gushing over their new product, looking at ways to build his business, A SIGNATURE STORY
to the latter. respectively, quite similar to our how it saves energy and works SB7 is a simple branding framework that If SB7 seems too simple and if you are The reviewer is a marketing/branding veteran and a
anticipation. seamlessly. When I ask them what do will help them clearly present their looking for more juice around brand best selling author of 11 books
NEW SCHEMES An update we were keenly
A generous outlay has been built awaiting in the FY2026 Union
in for ‘new schemes’ under the Budget was commentary on the
Ministry of Finance, the details of
which are awaited.
new medium term fiscal path.
In the absence of a major
NEW READS.
Within the revenue macro-economic disruptive
expenditures, encouragingly exogenous shocks, the Title: People-Powered Title: The Indian Title: Best of Thirikkural:
subsidies are quite flat in FY2025 government aims to keep fiscal Startups: Building a Constitution : Wisdom to Enrich
RE and FY2026 BE. deficit in each year from FY2027 Culture of Conversations with Yourself and Humanity
Nominal GDP growth has been till FY2031, such that its debt is Collaboration, Power
projected at 10.1 per cent, similar on a declining path to achieve a Author: R.
Innovation and High
to our forecast of 10 per cent. debt to GDP level of about
Performance Author: Gautam Bhatia Poornalingam
While gross tax revenues are 50±1% by March 31, 2031, which
budgeted to expand by 10.8 per happens to be the last year of the
cent, which seems only slightly 16th Finance Commission cycle, Author: Saurabh Nigam Publisher: Publisher: Rupa
higher than the rise in nominal from 56.1 per cent in FY2026 BE. HarperCollins India Publications India
GDP, this masks over the This approach would afford Publisher: Penguin
substantial revenue foregone operational flexibility to the This book takes a new This book is a detailed
from the tax relief measures that government to respond to This is an essential approach on the commentary covering
the Budget has announced. The unforeseen developments, which handbook for start-up Constitution: as a two significant aspects
latter aggregate to a little over ₹1 have quite frankly abounded in founders and HR document that creates of Thirukkural wisdom —
trillion, rivalling the fiscal push the last six years.
professionals and constrains power wealth and virtue
from enhanced capital spending,
and would no doubt boost The writer is Chief Economist, Head- Research
consumption in the economy. & Outreach, ICRA

thehindu businessline. Short take

TWENTY YEARS AGO TODAY.

February 3, 2005
Budget: Catalysing growth with fiscal prudence
S&P upgrades foreign currency rating from life insurance policies issued by for the infrastructure sector is a consumption and focuses on capex, it
Standard and Poor’s upgraded its long-term foreign currency rating on India by Mehul Pandya IFSC insurance intermediaries without welcome step. Introducing a scheme for also remains committed to a firm grip on
one notch to ‘BB+’ with a stable outlook. The agency also affirmed the long-term premium limits is a game-changer, determining the arm’s length price for fiscal discipline, which has remained the

T
local currency and short-term ratings at ‘BB+’. The ‘BB+’ rating is still below he Union Budget for 2025-26 making the IFSC a competitive transfer pricing for three years is a hallmark of PM Modi’s government.
investment grade, though only one notch. reflects a strategic vision jurisdiction globally. Additionally, the progressive step, providing tax certainty One of the most significant
anchored in fiscal prudence, capital gains exemption for and reducing litigation. announcements is the increase in the
FDI cap in telecom hiked to 74 pc support for consumption, and non-residents and IFSC units on MSMEs receive a robust boost income tax exemption limit to ₹12 lakh
The Union Cabinet today went ahead with the decision to raise the foreign direct enhancing global competitiveness via transferring equity shares of ship-leasing through enhanced credit guarantees. under the new tax regime. This move
investment (FDI) limit in the telecom sector to 74 per cent from the current deregulations. It underscores the companies, coupled with dividend Increasing the credit guarantee cover substantially relieves the middle class
ceiling of 49 per cent. Certain conditions have also been specified while allowing government’s commitment to Viksit exemptions, will catalyse the growth of from ₹5 crore to ₹10 crore for Micro and and simplifies the tax structure,
increase in FDI cap, primarily to address the concerns of security agencies and Bharat 2047, focusing on reforms, niche financial services within IFSC. Small Enterprises is expected to unlock encouraging more individuals to opt for
Left parties. The move will allow companies such as Bharti Tele-Ventures and investments, and sustainability. The Budget extends the investment an additional credit flow of ₹1.5 lakh the new regime.
Hutchison Essar to “regularise” the foreign holdings in their companies. The Budget significantly strengthens window for Sovereign Wealth Funds and crore. For startups, raising the guarantee As India takes decisive strides towards
the IFSC ecosystem. Extending sunset Pension Funds by five years, up to March from ₹10 crore to ₹20 crore with becoming a $5 trillion economy, this
Left parties to discuss hike today dates for exemptions, deductions, and 31, 2030. This move ensures sustained moderated fees for key sectors under Budget lays the groundwork for
Strongly opposing the Government’s decision to increase the foreign direct relocations to March 31, 2030, provides capital flow into India's infrastructure Atmanirbhar Bharat will catalyse sustainable, inclusive, and resilient
investment (FDI) limit in the telecom sector to 74 per cent, the four Left parties much-needed policy stability, enhancing sector, fostering long-term growth. The innovation and entrepreneurship. growth.
have convened a meeting in New Delhi on Thursday to chalk out their course of investor confidence. proposal to set up a partial credit Overall, the Budget is forward-looking
action. Notably, the exemption of proceeds enhancement facility through NaBFID and growth-oriented. While it supports The writer is MD & Group CEO, CareEdge

BL TWO-WAY CROSSWORD 2623 EASY DOWN NOT SO EASY DOWN

01. Dressed in (4) 01. Is dressed in no end of lace confection on the day (4)
ACROSS 02. Malayan boat (4) ACROSS 02. In back-up, an Academician can show Malayan craft (4)
07. Mistake made by 03. Termagants; ticks off (6) 07. Car (Roller) Eric takes out due to mistake 03. Rebukes one for the loss CD makes (6)
clerk (8,5) 04. Makes different (6) in calculation (8,5) 04. Changes the sound made by communion tables (6)
08. System of 05. Instrument fingerboard bar (4) 08. There are twice the number of candidates 05. Worry as to what one may find on a stringed instrument (4)
bookkeeping (6,5) 06. Politically conservative (4) for bookkeeping (6,5) 06. The Right will attempt to conceal nothing (4)
12. Has relation to (6) 09. Person with public duty (7) 12. Turns to marijuana smokes left by the East 09. One holding commission by force, if necessary (7)
14. Hot season (6) 10. Play-clothes for child (7) once (6) 10. Right to promise, having lost one set of child's clothing (7)
16. Irritations (6) 11. Branches of service (4) 14. The whole lot get semi-merged when it's 11. Gets sling in which babe may be carried (4)
18. Makes one irate (6) 12. Devastation (4) hot (6) 12. Run one in and bring about utter collapse (4)
19. Without restraint, 13. Type of bread, whisky (3) 16. It irritates women who spell but lack a 13. In every enterprise necessary, show some spirit (3)
informal (4-3-4) 15. Ballot-box, vase (3) leader (6) 15. One will be soundly deserving of the ballot-box (3)
23. Perpetually (13) 17. Mariner (6) 18. It makes one cross a variety of ranges (6) 17. Naval rating changing name as required (6)
18. Verifies accounts (6) 19. Informal way to let one go : simple, too 18. Checks accounts for fraud, it seems, internally (6)
19. ‘V’ represents it (4) (4-3-4) 19. In iron, four can add one to that (4)
20. Ireland (4) 23. Unceasingly made strange, vilely distorted 20. See Ireland before it takes one in (4)
21. Former Indian coin (4) (13) 21. In India, old money went to the King of Siam (4)
22. Egg yellow (4) 22. Some egg on one's dress, one is told (4)

SOLUTION: BL TWO-WAY CROSSWORD 2622

ACROSS 1. Past masters 7. Revised 9. Edit 11. Mince 12. Charge 14. Letterpress 18. Caring 20. Erato 22. Nigh 23. Insists 24. Centrifugal
DOWN 2. Advance 3. Aids 4. Rider 5. Tramp 6. Steed 8. Sweetens 10. Shortens 13. Cry 15. Swansea 16. Scant 17. Louse 19. Rogue 21. Mini

CM
YK ... . . . . . . ND-NDE
 6 . bl . news
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businessline.
MONDAY - FEBRUARY 3 - 2025

VIEWSROOM.
ANISH SHAH
‘Growth in capex higher than overall Budget size’
Group CEO and MD, Mahindra Group
LOOKING AHEAD. Focus on capex has been maintained for the next year as well: Expenditure Secretary Manoj Govil

Economic momentum bl interview lakh crore, the current es-

timate that we have put as re-
will have a portion which is
untied and a portion which is
jects, the number of projects
in the pipeline, the record of
vised in the Budget is ₹10.18 based on the various reform executing the works, and, of
Last year, our actual
expected to catch up Shishir Sinha
New Delhi
lakh crore, which will be
around 7 per cent growth
over ₹9.49 lakh crore; so the
capex was ₹9.49 lakh
crore, which was
activities carried out by the
State governments.
Now the 0.5 per cent addi-
course, the overall availabil-
ity of funds. As I said, the
good thing is that the overall
The Budget is another decisive step forward in our Expenditure Secretary capital expenditure is grow- raised to ₹11.11 lakh tional borrowing based for allocation has not come
journey towards ‘Viksit Bharat’. It underscores the Manoj Govil has said that the ing. And if it were not for the crore in the Budget the power sector reform is a down for these departments
government’s commitment to a sustainable and focus on capital expenditure election process, which re- separate item that is based and the focus has been main-
inclusive growth path. The stability and continuity for railways, roads and duced the pace of expendit- of FY25 on the borrowing permis- tained. For example, if alloc-
in the reforms agenda are welcome. defence has continued in the ure, then this could have MANOJ GOVIL sion, which is given to the ation for the Railways had
By prioritising agriculture, manufacturing, Budget. been even better. Expenditure Secretary various State governments become less, then one could
MSMEs, exports and ease of doing business — while He said that the actual use Even now, the actual out- to borrow from the RBI or argue that the focus has been
keeping sustainability and digitisation as underlying of 50 years interest-free come might be slightly more otherwise now that dispens- lost. But that is not the case.
themes — the Budget paves the way for continued loans by the States is than ₹10.18 lakh crore, but for capex both together is we have almost reached that ation was available till the That has been maintained at
progress. expected to be higher than that is an estimate we have ₹13.18 lakh crore. That is the figure of ₹1.09 lakh crore and current year which will now the level it is. In defence, of
The emphasis on manufacturing is well-placed revised estimates during the put in as the most probable RE figure, which is slated to we have two months more to be also available for the next course, the allocation has
and much appreciated. The four pillars of Make in current fiscal. estimate for this year. Now, if go up to ₹15.48 lakh crore in go. So the revised estimate financial year. been increased by around
India — new processes, new infrastructure, new Edited excerpts: you see the next year, the the Budget estimate for for that scheme in the cur- ₹22,000 crore.
sectors and a new mindset — have been redefining total amount of capital FY26. rent financial year is ₹1.25 There is criticism that
the country’s manufacturing ecosystem. The For the second spending is actually slated to That means a 17.4 per cent lakh crore; ₹1.25 lakh crore is allocation for the Another issue is about
Budget reinforces the government’s commitment successive year, revised go up to ₹11.21 lakh crore, increase. Now imagine the obviously better than ₹1.09 Railways is almost flat, the overall subsidy and
to further bolster this ecosystem. estimate of capital which is around a 10 per cent overall Budget size is in- lakh crore. So, the capacity and there is a very more specifically, the
The announcement to establish a National expenditure in FY25 is growth ... which is reason- creasing 7.4 per cent and actual utilisation has in- minor change in the fertilizer subsidy, which
Manufacturing Mission by providing policy lower than the Budget able growth. between RE and BE, whereas creased. It might pick up road sector. What do is on the lower side. Any
support, execution roadmaps and governance is estimate. Last year, the You also have to compare capex, both direct as well as even more in the last two you have to say? reason for that?
looked forward to with anticipation. Specific actual was lower than this 10 per cent to the overall grants for capex, aggregate is months of the current fiscal The focus has been on the Overall FY26 subsidies for
measures for labour-intensive sectors such as the revised estimate. growth in the Budget size, increasing 17.4 per cent for and be even more than ₹1.25 Railways as well as roadways fertilizers is very close to the
footwear, leather, food processing and toys — all of Still, the government is which is around 7 per cent the same period. So, if you lakh crore. as well as defence. These number that we have for the
which are dominated by MSMEs — will provide a saying that the focus on from RE of ₹47.16 lakh crore take that into account, it is three are the main depart- revised estimate this year. If
much-needed boost to employment. public expenditure to be for the next year of fair to say that the focus on The Budget has ments or areas where most you see overall, the subsidies
The emphasis on infrastructure development, through capital ₹50.65 lakh crore. So as a capex has been maintained proposed ₹1.5 lakh of the capex is allocated. This for food, fertilizer, petro-
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
ease of doing business, skilling and the expenditure will component of the overall ex- for the next year as well. crore for FY26 under 50 was the case in the current leum, etc, the actual figure
rationalisation of the customs tariff structure for continue. How are these penditure, we are focusing years interest-free loan financial year and in the next for FY23 is ₹4.35 lakh crore.
industrial goods are significant positives that will two related? more on the capital ex- Do States have the scheme for the States. financial year also, that has For this year, it is ₹4.28 lakh
further enhance the competitiveness of India’s Last year (FY24), our actual penditure as compared to absorption capacity to What will be the been maintained. The posi- crore and for the next year, it
manufacturing sector. capex was ₹9.49 lakh crore, other parts of the Budget. spend the amount you modalities for tion of these have been main- is ₹4.26 lakh crore. So it’s
Agriculture sector requires complete and which was raised to ₹11.11 That is one part. The second are providing? distribution? tained, and they will get a very close. There is not much
continuous support for furthering inclusion and lakh crore in the Budget of part is that capital expendit- We have a scheme called 50 The circular for ₹1.5 lakh substantial portion of the change in subsidy but the
ensuring food FY25. In the current finan- ure happens in two ways. years interest-free loan crore scheme has not been overall capex. subsidy allocation or budget
security. The various cial year, because of elections One is this direct capital ex- scheme in which last year, issued yet. In fact, the France also depends on the way the
The emphasis announcements and other political activities
in the first quarter or may be
penditure by the Central
government agencies. The
the aggregate spending was
₹1.09 lakh crore against BE
Minister announced it in the
Budget only on Saturday.
Still the growth in
allocation is flattish or
prices move. Should the
prices of, let us say, petro-
geared towards
on climate-proofing the four months, the expendit- other is when we give money of ₹1.5 lakh crore. This fiscal Now we will consult with the low... leum products go down in
infrastructure agriculture sector and ure was quite low. In fact, the as grants for capex to State also, the Budget estimate concerned ministries and de- The actual number for alloc- the international market,
Economic Survey does some governments, which also was ₹1.5 lakh crore but we cide upon the circular to be ation depends on various then the subsidy allocation
development, emphasising
self-reliance are well analysis about capital ex- results in capital expendit- have the preliminary figures issued for the next financial factors — the number of or subsidy expenditure will
ease of doing noted. penditure in the first four ure. If you also count that in for January-end and those year. But it is safe to say that, sanctions that they have ob- come down. Similarly, if the
months and how it picked up the current year, the RE es- figures indicate that by Janu- as in the present year, the cir- tained from the competent prices go up, the subsidy ex-
business, skilling The new Agri subsequently. Out of ₹11.11 timate for capex, plus grants ary-end in this financial year, cular for the next year also authority for various pro- penditure may go up.
Districts Programme
and is another significant
rationalisation step. In our
pre-Budget
of the customs submission to the
tariff structure government, FICCI
had recommended an
Import duty cuts to benefit American exports to India Trump imposes
tariffs on Canada,
for industrial
goods are
agricultural yield
mission for the Amiti Sen
duty cuts were to satisfy
Trump.
exported items worth $653.4
million to India in FY24.
Mexico, China
New Delhi
significant bottom 100 districts,
similar to the BILATERAL TRADE
Lowering import duties on
synthetic flavoring essences
Press Trust of India
positives Aspirational Districts Ahead of Prime Minister In his phone call with Modi to 20 per cent from 100 per
Washington

Programme, and it is Narendra Modi’s visit to the on January 28, Trump said cent and eliminating duties President Donald Trump on
encouraging to see US, the government has that India needs to move to- on ground installations for Saturday signed an order to
this suggestion incorporated in the Budget. slashed customs duties on wards a fair bilateral trading satellites are also set to bene- impose stiff tariffs on im-
The enhancement of the loan limit under the not just America’s iconic relationship with the US and fit American companies. ports from Mexico, Canada
Modified Interest Subvention Scheme or loans Harley Davidson motorbikes buy more American-made The Budget brought down and China, drawing retali-
taken through the Kisan Credit Card will further but also several other items security equipment. The two tariffs on motorcycles, most ation and an undeniable
empower India’s farm community and thereby of interest to American ex- leaders also discussed plans significantly for the sense of betrayal from the
strengthen rural resilience and financial inclusion. porters. The unilateral STRENGTHENING TRADE. The halving of import duties on for the Indian PM to visit the above-1,600cc category, to country’s North American
lowering of tariffs may help ethernet switches will benefit American companies, which White House. Trump had 30 per cent from 50 per cent, neighbours as a trade war
IMPORTANCE OF SUSTAINABILITY set a positive tone for Modi’s exported items worth $653.4 million to India in FY24 earlier threatened India with a move likely to benefit Har- erupted among the long-
The Budget also underscores the importance of meeting with US President “reciprocal tariffs” if it did ley Davidson, which has time allies.
sustainability as a key economic pillar across Donald Trump, who has been not reduce its tariffs. most of its product line-up in Trump posted on social
sectors. The emphasis of the National a constant critic of India’s across various sectors. With have always been responsive In the Budget announced this category. “US motor- media that the tariffs were
Manufacturing Mission on Clean Tech “high tariffs”, a source track- key tariff cuts on technology, to industry’s requests on re- on Saturday, key tariff reduc- cycle exports to India stood necessary “to protect Amer-
manufacturing, particularly in solar PV cells, EV ing the matter said. automobiles, industrial in- duction of tariffs and duties. tions favouring the US in- at $3 million in FY24, and icans,” pressing the nations
batteries, motors and controllers, electrolysers and India’s plans to amend its puts and waste imports, In- This is a continuation of that clude lowering of import this tariff cut could help ex- to do more to curb the manu-
wind turbines, will move us forward in that nuclear liability law and set dia appears to be taking steps effort and will send a positive duty on fish hydrolysate pand market access for facture and export of illicit
direction and reduce our dependence on imports. up a nuclear energy mission toward facilitating trade message to the business and (used in aquatic feed) to 5 American manufacturers,” fentanyl and for Canada and
The announcements in the Budget are expected is also likely to please the US even as the global trade en- industry. It will help manu- per cent from 15 per cent. US the GTRI analysis said. Mexico to reduce illegal im-
to spur two key engines of growth — consumption as it would boost private and vironment remains tense,” facturing grow because raw exporters, who shipped the India also eliminated tar- migration into the US. The
and investment. Changes in the personal income foreign investments and en- said Ajay Srivastava from the materials and intermediate item valued at $35 million to iffs on specific waste and tariffs could cause inflation
tax structure will give a boost to demand while the courage India-US collabora- Delhi-based research body products will make our India in FY24, directly stand scrap items, reducing duties to significantly worsen,
government’s increased capital expenditure, tion in the civil-nuclear field, GTRI. products more competitive to gain, a GTRI report noted. from 5 per cent to zero. The threatening the trust that
although modest compared to previous years, will sources said. The government is of the in the international market,” The halving of import duties US exported a total of $2.5 many voters placed in Trump
continue to add to the nation’s productive capacity. “These latest reductions view that the customs duty Commerce and Industry on ethernet switches, in the billion worth of waste and to lower the prices of grocer-
The economic momentum is expected to catch up signal a policy shift that rejig will benefit industry Minister Piyush Goyal told ‘others’ category, will benefit scrap of all types to India in ies, gasoline, housing, autos
going ahead. could enhance US exports and businesses at large. “We businessline when asked if the American companies which FY24. and other goods.

Harley-Davidson, Suzuki Hayabusa to

get cheaper with cut in import duties
70 per cent. However, with
S Ronendra Singh 40 per cent of AIDC, the fi-
New Delhi nal rate remains the same.
“For most automotive
With the reduction in ba- parts and vehicles, import
sic customs duties (BCD) duties haven’t really
on the import of motor- changed. The government
cycles with engine capa- just shifted some duties
city up to 1600 cc and around, from basic cus-
above 1600 cc from 50 per toms duty to something
cent to 40 per cent and called the AIDC. The only
from 50 per cent to 30 per real duty cuts are on mo-
cent respectively, Harley- torcycles (including in
Davidsons and Suzuki CKD and SKD form), some
Hayabusas of the world big passenger vehicles (in-
can now become access- cluding CKD and SKD
ible to many bike enthusi- EYE ON IMPORTS. The reduction in basic customs duty form) and goods trans-
asts in the country. aims to attract luxury automakers, including Tesla, portation vehicles,” Saur-
The government has in- Harley-Davidson and others, by enabling them to bring their abh Agarwal, Partner &
troduced Agriculture In- advanced technologies to India at lower costs Automotive Tax Leader at
frastructure and Develop- EY, told businessline.
ment Cess (AIDC) on the This is a step by the gov-
import of such two-wheel- actually the similar reduc- for CKD to 10 per cent (15 ernment to provide a level-
ers in its Budget presented tion and the same percent- per cent). playing field to foreign
on Saturday, whether it is a age has been levied,” manufacturers by redu-
completely built unit Sivakumar Ramjee, Exec- STRUCTURAL CHANGE cing the tariff barrier in
(CBU) or semi-knocked utive Director-Indirect According to analysts, this sectors where India has a
down (SKD) unit or com- Tax, Nangia Andersen LLP, is a structural change so strong supply chain, he REAL ESTATE
pletely knocked down told businessline. that the Centre gets a bet- added.
(CKD) unit, by tax ration- Similarly, the Budget ter pie of the taxes. For in- Currently, Hero Moto- GENERAL
alisation, which would document indicated that stance, BCD was shared Corp imports Harley-Dav-
AFFORDABLE APARTMENTS for Sale at
make these products the rates for SKD motor- between the States and the idson motorcycles Tambaram West, Mudichur Road, adja-
cheaper from earlier rates. cycles up to 1,600cc had Centre but now with intro- through its partnership cent to KVT Green City. Available
in 1BHK and 2BHK , 6 units, total
“There was no AIDC been reduced from 25 per duction of AIDC, the cess and sells products such as built−up area 4371 sqft. with Car
earlier in the auto sector. cent to 20 per cent and for will come to the Centre. Fat Bob 114 (1,868 cc), Fat parking, lift etc. Ideal for Ser-
So it will be a combined CKD to 10 per cent (15 per The government has Boy 114 (1,868 cc), Herit- vice apartments, B&B, or company−
leased accommodation. Price: 2.90
impact of a lower BCD plus cent). also introduced AIDC in age 114 (1,868 cc) and Cr. For inquiries, contact
AIDC. With this, the gov- For motorcycles above the import of some cars Breakout 117 (1,923 cc), 9443453376/ 9841243345.
ernment has made a rate 1,600cc, the SKD rates costing more than $40,000 priced ₹21.49 lakh, ₹25.69
rationalisation, although have been reduced to 20 a unit, reducing the tariff lakh, ₹27.19 lakh and ₹31
in most of the cases, it is per cent (25 per cent) and rate from 125 per cent to lakh respectively.
CM
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DELHI

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MONDAY - FEBRUARY 3 - 2025

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CM
YK ... . . . . . . ND-NDE
 8 . bl . news
DELHI

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MONDAY - FEBRUARY 3 - 2025

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CM
YK ... . . . . . . ND-NDE
 Chart-Gazing . bl . 9
DELHI

businessline.portfolio
MONDAY - FEBRUARY 3 - 2025

Akhil Nallamuthu resistance at 77,100. The weekly

Gurumurthy K gain stood at 1.72 per cent. TECH QUERY
bl. research bureau
Short-term view: Sensex
has moved past a couple of im-
portant hurdles. The next resist- GURUMURTHY K bl.research bureau
Nifty 50, Sensex and the Nifty ance is at 78,800, where both 50-
Bank indices witnessed a good and 200-DMAs coincide. So, the
recovery last week. However, likelihood for the extension of I have bought Bharat Dynamics Ltd shares at
the rise stalled on Saturday as the rally to 78,800 is high. ₹1,150. What is the outlook?
Anish
the Union Budget failed to im- Above 78,800, there is a bar-
press the markets. The expected rier at 80,000. A breakout of
trigger has not come from the 80,000 can reinforce the Bharat Dynamics (₹1,242): The stock is in an
Budget for the markets to rise uptrend, possibly lifting the uptrend since the last week of November last year.
strongly. On Budget day, the Sensex to 82,000. However, a fall The price action since the beginning of this year
benchmark indices closed on a off the 78,800-80,000-resistance indicates that the stock is
mixed note. band can drag the index back to getting strong buying
However, for the week, the 75,600 and 75,300. interest around ₹1,100.

No Budget boost
Sensex and Nifty were up over Medium-term view: A re- Some resistance is at
1.5 per cent each. Nifty Bank in- bound last week is a positive de- ₹1,350. A break above it can
dex had risen over 2 per cent. velopment from a medium-term take the share price up to
Among the sectors, the BSE Re- perspective. However, for Sen- ₹1,550-₹1,600 . Keep the
alty sector surged 10.39 per cent sex to mark a bullish trend re- stop-loss at ₹1,040 and
last week. The BSE Auto and the versal, it ought to surpass the hold the stock. Revise the
BSE FMCG indices were up 4.93 INDEX OUTLOOK. Sensex and Nifty 50 need strong barrier at 80,000. Such a break- stop-loss up to ₹1,310
when the price goes up to
per cent and 3.86 per cent re- follow-through rise to sustain recovery and move higher out will open the door for an up-
₹1,390. Move the stop-loss further up to ₹1,430 when
spectively. The BSE IT index fell swing to 90,000. That said, there
2.93 per cent and was the under- might be a minor correction the price touches ₹1,540. Exit the stock at ₹1,600. If
performer last week. from 82,000, possibly to 80,000, you intend to hold the stock for long-term, say a
before the index moves to minimum of two years, then you can have a target of
SELLING SPREE is stuck inside the 48,000-50,000 higher levels. ₹2,300. In this case, for every ₹200 move above
The Foreign Portfolio Investors range for the third consecutive Key support levels below ₹1,600, revise your stop-loss up by ₹100.
(FPIs) continued to sell Indian week. Immediate support is at 75,300 are at 74,000 and 72,000.
equities for the fourth consecut- 49,000-48,900. The index has to In case Sensex falls to these I have shares of South Indian Bank. My purchase
ive week. They sold about $1.6 sustain above this support and levels, it can be a good oppor- price is ₹25. What is the medium-term outlook?
Subramanian
billion in the equity segment break 50,000 decisively to gain tunity from a long-term
last week. The month of January bullish momentum. If that hap- perspective.
has seen a net outflow of about pens, a rise to 51,000 and 52,000 South Indian Bank (₹25.50): The stock touched a
$9 billion. The FPIs have to start is possible in the short term. DOW JONES (44,544.66)
peak of ₹36.90 in February last year. Since then it has
buying in order to boost the mo- On the other hand, if the in- The Dow Jones Industrial Aver- been in downtrend. A crucial support is in the
₹23-₹22 region. A break below ₹22 can take the share
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
mentum for Nifty 50 and dex continues to stay below age was up by a marginal 0.3 per
Sensex. 50,000 and breaks, 48,900, it can cent last week. Nevertheless, price down to ₹20 and even
fall back to 48,000-47,800 again. barring a rally on Monday, it was lower. Resistance is at
NIFTY 50 (23,482.15) In that case, the 48,000-50,000 largely oscillating sideways ₹27.50. A break above it
Nifty fell breaking below 23,000 range will remain intact for between 44,550 and 45,000 for will give some relief and
to test 22,800 as expected. How- some more time. A break below the rest of the week. take the price up to ₹30. A
ever, the index managed to re- 47,800 if seen can drag it down Outlook: Considering that subsequent rise above ₹30
verse higher from the low of to 47,000. the index has formed a bearish will only turn the outlook
22,786.90 recovering all the loss. Medium-term view: There engulfing pattern on the daily bullish and clear the way
Nifty touched a high of is no major change in the view. chart, although the trend re- for a rise to ₹35. For now
23,632.45 before closing the For now, we expect a rise to side this year. In case the Nifty Strong support is at 46,600. This mains up, we might see a tem- the outlook is unclear.
week at 23,482.15 up 1.68 per 23,800 first and then will have to declines below 22,400, the can be tested if the Nifty Bank porary correction. Keep the stop-loss at ₹21
cent. wait and watch the price action. downside can extend to 22,000 index breaks below 47,800. Strong support can be seen and hold the stock. Move the stop-loss up to ₹27 when
Short-term view: The near- Medium-term view: The big and not more than that. In such However, we expect the index to between 44,000 and 43,800 the price goes up to ₹30. Revise the stop-loss further
term view is positive. Support is picture remains the same. a scenario, the expected reversal sustain above 46,600 and see a which can be tested this week. A up to ₹31 when the price moves up to ₹33. Exit the
in the 23,300-23,200 region. A Strong support is at 22,500 and can then happen from around reversal from there towards recovery off this support region stock at ₹35.
rise to 23,800 is possible this 22,400. This can still be tested as 22,000. 50,000-51,000 initially. An even- can lift the Dow Jones to 45,250
week. If the Nifty manages to long as the Nifty stays below So, we continue to reiterate tual break above 51,000 will in the short term. However, a What is the outlook for Galaxy Surfactants? I
breach 23,800, the upside can 24,400. that the fall to 22,500 is a very then strengthen the bullish case breach of 43,800 can turn the have bought this stock at ₹2,767.
Yunus
extend up to 24,000. However, we reiterate that a good buying opportunity from a for a rise to 54,000 and higher outlook bearish, possibly drag-
On the other hand, failure to fall beyond 22,400 is unlikely. A long-term perspective. levels going forward. The ging the index to 43,000.
breach 23,800 can drag the Nifty reversal from around 22,500- danger of a steeper fall to 44,000 Galaxy Surfactants (₹2,407): The stock has been
down to 23,200 and 23,000 22,400 can take the Nifty up to NIFTY BANK (49,506.95) will come into the picture only if oscillating in a wide range of ₹2,200-₹3,500 for more
again. It will also keep the 25,000-26,000 initially. This rise The Nifty Bank index broke be- the index declines below 46,600. than three years now. Within this, it is now hovering
chances alive of revisiting can happen immediately if the low 48,000 initially but did not around the lower end of the range. Assuming that the
22,800 levels on the downside. Nifty moves above 24,400 from sustain. The index had re- SENSEX (77,505.96)
sideways range will
From a short-term perspect- here itself. This rise will confirm covered sharply from the low of The index recovered on the back continue to remain intact,
ive, Nifty has to get a sustained the trend reversal and will indic- 47,844.15. It touched a high of of the support band of 75,300- we expect the share price
rise above 24,000 to strengthen ate the resumption of the long- 50,009.50 before closing the 75,600 last week. It closed above to rise towards
the bullish case. Only then a rise term uptrend. This leg of up- week at 49,506.95, up 2.36 per the 20-day moving average ₹3,300-₹3,500 over the
to 24,300-24,400 will come into move will have the potential to cent. (DMA), which is now at 76,800, next three-four quarters.
the picture. target 28,000-28,500 on the up- Short-term view: The index and has surpassed a trendline Accumulate on dips at
₹2,280. Keep the stop-loss
at ₹2,140. Move the
stop-loss up to ₹2,520 as
soon as the stock price
Yields rise as Trump’s
tariffs to take effect
Precious metals gain goes up to ₹2,780. Revise the stop-loss further up to
₹3,060 when the price touches ₹3,180. Exit the stock
at ₹3,300. If the stock breaks below ₹2,200, the price

traction, oil finds a base

can fall to ₹1,900. So, make sure to adhere to the
stop-loss and exit accepting the loss.
Reuters
I have bought Prince Pipes and Fittings around
₹670. What is the long-term outlook?
US Treasury yields rose on
Friday, a day ahead of new US
BULLION & CRUDE. Participants can remain in the long side of trade Ramasubramanian, Bengaluru
tariffs due to be levied on im-
ports from Mexico, Canada Akhil Nallamuthu Prince Pipes and Fittings (₹380): The stock is in a
and China, and as traders bl. research bureau strong downtrend. The price has been falling
weighed data showing strong continuously since July last year. There is a support at
consumer spending and a Precious metals posted gains last ₹370. A bounce from there
moderate increase in infla- week whereas crude oil prices and a subsequent rise
tion in December. President saw a decline. In terms of dollars, above ₹400 can give some
Donald Trump will imple- gold ($2,801/ounce) and silver relief. If that happens,
GETTY IMAGES/ISTOCKPHOTO

ment tariffs of 25 per cent on ($31.3/ounce) were up 1.1 per there is a chance of seeing a
Canadian and Mexican im- cent and 2.3 per cent respect- rise to ₹450-₹500 in the
ports and 10 per cent on in inflation before cutting ively. The Brent crude oil futures short-term. But the trend
Chinese goods with immedi- rates but also expressed con- on the Intercontinental Ex- will continue to remain
ate effect, White House fidence that it remains on the change (ICE) ($75.70/barrel) de- down. A strong rise above
spokesperson Karoline Leav- right path to ease back closer preciated 2.4 per cent. ₹500 is needed to turn the
itt said on Friday. to the Fed’s 2 per cent annual In the domestic market, be- outlook bullish. Only then
Uncertainty over the im- target. cause of the Budget announce- a rise to ₹600-₹700 will come into the picture. But
pact of tariffs is muddying ment, there was an additional ₹82,350 and add longs at shows that the contract was such a rise looks unlikely. It does not make sense to
the outlook on the economy, INFLATION DATA trading session on Saturday. For ₹81,000. Target and stop-loss can largely charting a sideways trend wait just with a hope for a recovery. So, exit the stock
with details on the imple- Chicago Fed President Aus- the week, gold futures (₹82,350/ be the same as the above. through the week. It has been and accept the loss.
mentation, including tan Goolsbee said Friday’s 10 gm) was up 2.1 per cent held in the narrow price band of
Send your queries to [email protected]
whether there will be exemp- inflation data was a bit better whereas silver futures (₹93,250/ MCX-SILVER (₹93,250) ₹6,275-6,425.
tions, are not clear. than expected and gives him kg) gained 1.8 per cent. The Silver futures (March) posted a This consolidation means that
The 2-year note yield, comfort that inflation is on a crude oil futures (₹6,359/barrel) gain last week. Yet, it could not the downtrend, which began a
which typically moves in step path to the 2 per cent target, lost 1.1 per cent break out of the resistance at couple of weeks back, has lost BANDU’S BLOCKBUSTERS.
with Fed interest rate ex- adding that he still expects ₹93,600 and so it remains within some momentum.
pectations, was last up 3.5 the US central bank's policy MCX-GOLD (₹82,350) the ₹90,000-93,600 range, which The lower boundary of the On April 1, four years back, piqued by the incessant jokes in the
basis points on the day at rate to be “a fair bit” lower in Gold futures (April) broke out of has been the case since the range at ₹6,275 can offer support village at his expense, Bandu Barve decided he’d had enough. It was
4.232 per cent. The yield on 12 to 18 months. Fed Gov- a resistance at ₹81,000 and second week of January this year. for crude oil futures. A rising time for him to turn ‘smart’. His dead granny’s voice rang in his ears
benchmark US 10-year notes ernor Michelle Bowman said reached a record high of ₹83,360. Given the prevailing chart set trendline coincides with this — “Read the papers, Bandya, they tell you all.” So, off went Bandu to
rose 5.9 basis points to 4.571 on Friday that she still ex- But it then retraced to end the up, the probability of a breakout level, making the base stronger. the stash of newspapers on his father’s desk. As luck would have it,
per cent. pects declining inflation to week at ₹82,350. While the bull of ₹93,600 is high. Nevertheless, A rally from the current level the first paper Bandu got his hands on was The Hindu businessline.
Yields briefly jumped allow further interest rate trend is intact, there is a possibil- before that, the contract might can take crude oil futures back to The stock recos, in particular, had him in thrall. Soon Bandu
earlier on Friday after data cuts this year but feels rising ity of a minor price correction, moderate to ₹91,500. the resistance at ₹6,850. Follow- metamorphosed into an ace investor and trader.
showed that consumer wages, buoyant financial possibly to ₹81,000 or to An eventual breach of ₹93,600 ing this, potential resistance
spending, which accounts for markets, geopolitical risks ₹80,500. A trendline support and can lift the contract to ₹96,500, a levels are at ₹7,000 and ₹7,200.
more than two-thirds of US and upcoming administra- 20-day moving average coincide barrier. Above this, ₹1,02,500 is a On the other hand, if the con- These days, Bandu picks five Last week’s prize
stocks each Sunday, which he winner
economic activity, beat es- tion policies could slow the at ₹80,500 making it a strong notable resistance. tract extends the decline and Rohit Kumar
timates with a 0.7 per cent process and keep price pres- support. Hence, a decline below But note that a break below slips below ₹6,275, we might see believes will be blockbusters
jump during December. sures elevated. this is less likely. ₹90,000 can change the short- the price declining to ₹6,000 and over the next week Last week’s winning
Meanwhile, the core per- The breakeven rate on A rally, either from the current term outlook bearish. then possibly to ₹5,750.
sonal consumption ex- five-year US Treasury Infla- level or after a drop to ₹80,500- Spot silver($31.3): The price The contract is now hovering 1 Phoenix Mills stock
Eicher Motors
BANDU’S PICKS

penditures (PCE) price in- tion-Protected Securities 81,000 region, can lift gold fu- of silver in dollar terms has near support and so there is a
dex rose 0.2 per cent last (TIPS) rose above 2.60 per tures to ₹85,000 in the near term. crossed over a crucial hurdle at chance of a recovery. A rise above 2 Jyothy Labs
Closing price
month, in line with econom- cent to its highest since Resistance above ₹85,000 is at $31. The price action shows that ₹6,425 can be an indication that (Jan 24)
ists’ expectations, for an an- March 2023 and was last at ₹88,000. the spot price of silver can touch the upswing has resumed. 3 Century Textiles ₹5,207.55
nual gain of 2.8 per cent. The 2.596 per cent after closing Spot gold ($2,801): The pos- $32.50 soon. A breach of this can Brent futures: The contract, & Industries
headline PCE price index at 2.535 per cent on itive outlook in domestic gold fu- take it further to $35. Such an up- after a decline, is currently hov- Closing price
rose 0.3 per cent last month
for an annual gain of 2.6 per
Thursday. The 10-year TIPS
breakeven rate was last at
tures is substantiated by the
movement in the international
swing can trigger a rally in MCX
silver futures.
ering in the support band of $75-
76. Until this hold, the upward
4 Mahindra & (Feb 1)
₹5,388.30
Mahindra
cent. 2.429 per cent , indicating price of gold. The spot gold hit a Trade strategy: Exit the bias will remain, possibly leading
“The very strong personal the market sees inflation av- record high of $2,817.6 before longs (recommended at to a fresh rally. Consequently, Return:
income spending data con- eraging above 2.4 per cent a moderating to the current level ₹91,000) at the current level of the MCX crude oil futures can go 5 United Breweries
3.47 per cent
tinues to suggest that the year for the next decade. of $2,801. The chart shows that ₹93,250. Consider buying silver up as well.
consumer remains resilient. Annual inflation data the price can rise further, poten- futures again if the price dips to Trade strategy: Since there is
At the same time, you do should cool in the coming tially to $2,920. ₹91,500. Target and stop-loss can a support nearby for MCX crude Here's your chance to match step with
have inflationary pressures months due to favourable Trade strategy: Stay out for be ₹96,500 and ₹89,500 oil futures, the risk-reward ratio Bandu. Guess the stock that will give the best
continuing to fade,” Gold- comparisons with hot read- now. Go long if MCX gold futures respectively. is favourable for long positions. return by next Friday (BSE prices). By
berg said. ings from a year ago, weigh- soften to ₹81,000. Target and Therefore, we suggest buying at Wednesday noon, mail us your pick and its
Fed Chairman Jerome ing in favour of lower in- stop-loss can be ₹85,000 and MCX-CRUDE OIL (₹6,359) ₹6,350 with a stop-loss at ₹6,170. expected price rise to
Powell said on Wednesday terest rates, said Stan ₹80,300 respectively. The February crude oil futures When the contract touches [email protected] with
that the US central bank Shipley, macro research ana- But traders who can take lost 1.1 per cent last week. But ₹6,600, revise the stop-loss to your name, mobile number and address. Scan to know the winner
wants to see further progress lyst at Evercore ISI. higher risks can buy now at the intra-week price movement ₹6,420. Book profits at ₹6,850. One lucky winner will get a prize of ₹2,000. selection process

CM
YK ... . . . . . . ND-NDE
 10 . bl . Take 500
DELHI

businessline.portfolio
MONDAY - FEBRUARY 3 - 2025

Valuation Radar: The Good, The Bad, The Ugly

Capital Consumer
Nifty 50 Sensex Auto Bankex Goods Durables FMCG Healthcare IT Metal Oil & Gas Power PSU Realty Teck
The Benchmark indices, Sensex
and Nifty 50 were up 1.7 per cent P/E 21.3 22.1 23.3 13.1 41.4 84.3 43.7 41.4 31.6 15.0 11.9 25.9 11.3 52.4 35.1
each last week. BSE Realty gained
P/BV 3.5 4.0 6.0 2.4 7.8 15.8 9.6 6.1 8.7 2.2 1.5 3.8 1.9 6.0 8.7
the most by 10.4 per cent followed
by BSE Auto 4.9 per cent and BSE Dividend Yield 1.4 1.2 0.9 0.9 0.6 0.4 1.6 0.5 1.8 3.5 3.9 1.7 3.0 0.3 1.6
FMCG 3.9 per cent. BSE IT and Weekly Return (%) 1.7 왖 1.7 왖 4.9 왖 2.7 왖 0.6 왖 1.9 왖 3.9 왖 -0.8 왔 -2.9 왔 -1.3 왔 -0.8 왔 -1.2 왔 0.1 왖 10.4 왖 -2.4 왔
BSE Teck declined by 2.9 and 2.4
Monthly Return (%) -1.1 왔 -1.3 왔 0.2 왖 -2.9 왔 -8.8 왔 -8.3 왔 1.4 왖 -8.0 왔 -4.2 왔 -2.5 왔 -4.3 왔 -9.3 왔 -5.5 왔 -8.9 왔 -2.8 왔
per cent respectively last week.
Annual Return (%) 8.2 왖 8.2 왖 18.7 왖 7.6 왖 11.6 왖 18.9 왖 6.1 왖 24.1 왖 11.3 왖 6.2 왖 -3.5 왔 0.3 왖 2.6 왖 10.7 왖 14.6 왖
The sector indices are disseminated by S&P BSE.

Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low
Qty Qty TTM TTM Rtn Qty Qty TTM TTM Rtn

360 ONE [1] 1022.4 27.5 37.2 6.5 202412 20.7 43.9 46.1 49.2 -9.1 14.5 2.5 1317.3 597.8
Takeaways from Take 500
Metro Brands [5] 1236.8 15.1 81.9 17.1 202412 10.6 -3.3 5.6 26.2 1.1 19.8 0.6 1430.1 992.7
3M India 29893.5 542.7 55.1 15.7 202406 -0.3 21.6 3.0 23.3 2.6 39.8 0.0 41000.0 28383.6 Metropolis Healt [2] 1780.0 28.9 61.6 7.7 202409 13.4 31.2 11.4 11.0 -1.1 15.7 0.2 2306.9 1555.6
A ......................................................................................................................................................................................................
Wondering how to choose stocks for your Sales (TTM) and Profit (TTM) make Minda Corp [2] 567.9 10.9 51.9 6.5 202409 7.9 26.5 10.2 -5.9 0.0 14.9 0.4 652.9 367.0
Mishra Dhatu Nig 298.3 4.7 63.5 4.1 202409 15.0 69.1 7.7 -36.0 -7.0 7.0 0.4 547.5 294.4
A B B [2] 5500.2 79.7 69.1 18.4 202409 5.0 21.7 14.4 39.6 -10.8 30.4 0.0 9200.0 4345.0 portfolio from the dozens which are listed? the same comparisons for the trailing MMTC [1] 67.7 1.4 47.9 5.9 202409 -100.7 -58.9 -99.8 56.9 -2.2 9.0 0.1 131.9 62.2
A B Real Estate 2161.1 12.4 173.8 6.0 202412 -3.6 -133.2 28.8 -38.4 14.9 7.8 0.5 3142.0 1284.2
Aadhar Hsg. Fin. 395.5 19.4 20.4 2.9 202409 21.6 15.3 27.5 34.8 2.7 11.4 3.2 516.7 293.4 Or how to keep track of the ones you own? twelve months. Motherson Wiring [1]
Motil.Oswal.Fin. [1]
56.8
661.4 54.9
1.5 38.0
12.0
15.5
3.6
202409 10.8
202412 11.8
-2.4
-14.5
17.8
56.3
26.1
74.7
3.1
-4.7
46.8
20.7
0.2 80.0
1.6 1063.4 325.8
53.0
Aarti Industries [5]
AAVAS Financiers
459.6 10.1 45.6
1685.5 62.0 27.2
3.1
3.5
202412
202403
6.2
21.4
-62.9
12.3
13.4
25.4
-15.9
14.2
4.7
-2.3
7.3
9.9
0.6 769.5 390.3
3.2 1978.3 1307.1
Well, the listings on this page help you sift Wkly Rtn (Weekly Return) gives the Mphasis 2793.9 86.8 32.2 6.1 202412 6.7 14.5 5.3 5.2 -7.2 22.0 0.1 3239.6 2180.1
MRF 114107.7 4592.0 24.8 2.7 202409 10.7 -19.8 10.1 15.2 2.4 16.5 0.2 151283.4110100.0
Abbott India 25911.0 604.6 42.9 15.6 202409 9.3 14.6 7.6 18.8 -5.0 44.7 0.0 30683.425200.1 through the leading companies on their change in the price of a stock in the last Multi Comm. Exc. 5763.4 100.5 57.4 18.6 202412 57.4 2891.4 57.6 74168.1 0.5 4.7 0.0 7046.7 2917.0
ACC 1996.6 128.1 15.6 2.2 202412 20.6 103.1 9.1 43.6 -3.0 18.6 0.0 2843.0 1838.8
Action Const.Eq. [2] 1271.3 30.7 41.4 10.9 202409 12.4 28.2 23.4 55.2 2.9 42.2 0.0 1693.1 945.8 fundamentals and keep an eagle eye on one week. Muthoot Finance 2188.2 116.5 18.8 3.3 202409 36.7 20.0 30.1 17.5 0.7 13.4 2.7 2274.2 1262.3
Adani Energy Sol
Adani Enterp. [1]
746.0 17.8 41.8
2268.4 33.9 66.8
4.3
5.7
202412
202412
27.8
-8.8
72.9
-96.7
44.8
4.1
83.8
3.1
-5.6
-2.1
9.2
8.9
2.9 1347.9 588.3
1.6 3743.0 2030.0
their financial performance. Here’s a short ROCE (Return on Capital Employed) N .....................................................................................................................................................................................................

Narayana Hrudaya 1351.6 38.1 35.5 8.6 202409 7.3 -12.3 6.9 5.6 3.6 25.0 0.5 1445.1 1087.8
Adani Green 996.4 9.8 101.9 14.9 202412 3.1 57.1 16.0 -5.9 -1.5 10.0 7.0 2173.7 870.9 guide to interpreting the numbers: tells you what returns a business is gener- Natco Pharma [2] 1182.6 108.6 10.9 3.0 202409 32.9 83.6 28.0 72.5 -5.9 29.6 0.1 1638.4 828.5
Adani Ports [2] 1083.4 49.2 22.0 4.1 202412 15.1 15.2 12.8 27.0 -1.0 12.0 1.0 1608.0 993.9
Adani Power 514.2 33.8 15.2 3.5 202412 5.2 11.7 17.1 -44.1 -0.1 30.1 1.0 896.8 430.9
CMP (Current Market Price) is the ating on the capital it uses. Natl. Aluminium [5] 197.8 15.2 13.0 2.3 202409 31.5 458.3 4.5 119.0 -2.6 15.8 0.0 263.1 130.5
Navin Fluo.Intl. [2] 4131.6 53.2 77.6 8.3 202412 21.2 131.2 4.2 -10.4 11.5 10.3 0.5 4296.3 2876.5
Adani Total Gas [1] 633.7 6.1 104.4 17.8 202412 12.0 -19.4 9.1 11.8 -1.3 21.1 0.5 1198.0 550.3 closing price of a stock on BSE on its last DER (Debt Equity Ratio), which divides NBCC [1] 95.4 2.1 46.2 11.0 202409 19.4 -1.3 23.9 34.1 4.4 30.9 0.0 139.8 70.1
Adani Wilmar [1] 266.7 9.2 29.1 3.9 202412 31.4 104.4 13.2 762.9 5.9 9.2 0.3 408.7 241.1
Aditya AMC [5] 674.6 31.6 21.4 6.0 202412 30.4 7.2 26.2 28.7 -4.6 34.9 0.0 912.0 450.0 traded day, usually Friday. a company’s total loans by shareholder NCC [2]
Nestle India [1]
231.5 13.6
2327.4 32.5
17.0
71.5
2.1
56.2
202409 10.1
202412 3.9
110.7
-5.3
25.1
4.5
40.0
4.6
-2.0
5.3
22.2
69.2
0.2
0.1
364.5
2777.0
201.0
2131.5
Aditya Bir. Fas.
Aditya Birla Cap
283.0 -5.9
176.7 14.2 12.4
5.4
1.6
202409
202409
12.9
35.7
-216.6
43.0
13.6
30.8
-37.8
39.7
4.0
3.6
0.0
10.1
2.2 364.5 198.5
4.1 247.0 162.9
EPS (Earnings per Share) is the net funds, indicates how indebted a company Netwrk.18 Media [5] 52.8 -2.1 0.5 202412 -23.3 -116.5 4.6 -50.4 1.0 -0.4 0.9 123.0 47.6
New India Assura [5] 178.5 6.0 29.7 1.0 202412 0.9 -51.6 6.1 6.1 -3.4 0.4 0.0 324.0 167.4
Aegis Logistics [1] 684.5 16.6 41.1 5.8 202409 41.8 -0.8 -6.8 14.7 1.3 16.1 0.6 1035.7 358.2 profit that the company has earned in the is. Newgen Software 1095.3 22.0 49.7 11.9 202412 17.8 30.2 22.0 38.0 -6.7 25.9 0.0 1795.5 626.1
Aether Industri. 822.6 8.7 94.2 5.0 202412 41.4 105.0 7.8 -8.2 0.2 7.5 0.1 1066.3 775.0
Affle India [2] 1519.9 24.4 62.3 7.9 202409 25.9 37.8 31.7 29.7 -1.0 15.8 0.1 1883.1 998.0 latest financial period, on each outstand- ROCE and DER give you the latest avail- NHPC Ltd 78.9 3.0 26.6 2.0 202409 4.1 -41.2 -5.9 -23.8 2.6 7.4 0.8 118.5 72.2
Nippon Life Ind. 582.0 21.0 27.7 9.1 202412 38.9 3.9 40.0 38.3 -6.1 36.2 0.0 816.1 430.1
AIA Engineering [2] 3671.6 118.7 30.9 5.4 202409 -15.6 -5.7 -8.2 -1.6 1.2 22.8 0.1 4940.0 3279.0 ing share. Here, we capture each com- able year-end numbers for the company. NLC India 218.2 13.2 16.5 1.7 202409 22.8 -15.9 -9.1 -4.4 -1.3 6.1 1.4 311.7 193.0
Ajanta Pharma [2] 2718.3 71.9 37.8 9.2 202412 3.7 10.9 12.3 22.0 -2.9 31.6 0.0 3485.8 2003.6 NMDC [1] 64.4 7.1 9.0 2.0 202409 22.5 18.1 17.1 25.6 -3.5 28.3 0.1 95.5 59.7
Akzo Nobel 3775.9 95.5 39.5 12.1 202409 2.7 3.9 3.4 9.6 -1.9 39.2 0.1 4649.0 2265.1 pany’s total EPS for the last available trail- Yearly High and Low tell you the range NMDC Steel 40.5 -8.8 0.8 202409 448.8 -554.1 2177.1 -1861.7 1.4 0.0 0.3 73.7 37.0
Alembic Pharma [2] 937.1 32.4 28.9 3.8 202409 3.3 5.0 6.0 19.8 -1.3 12.9 0.1 1296.2 824.5
Alkem Lab [2] 5024.8 181.9 27.6 5.2 202409 -0.7 3.7 2.9 44.1 0.0 18.3 0.2 6440.0 4409.9
ing 12 months. that the company’s stock has spanned in NTPC 317.7 22.7 14.0 1.8 202412 5.2 -1.8 6.1 12.7 -1.9 10.3 1.5 448.3 296.9
Nuvama Wealth 5453.0 254.0 21.5 6.2 202412 22.7 43.0 39.6 72.0 -2.5 15.9 2.4 7648.0 3172.9
Alkyl Amines [2] 1716.4 34.9 49.2 6.7 202412 15.3 30.9 3.1 12.2 -1.4 16.2 0.0 2498.0 1607.9 PE (Price Earnings Ratio) is the single the last one year. Nuvoco Vistas 342.6 -1.2 1.4 202412 -0.5 -297.8 -4.5 -106.6 -2.2 5.4 0.5 385.2 292.0
Alok Industries [1] 18.7 -1.9 -0.5 202412 -31.1 -218.7 -24.7 -3.2 -1.6 0.0 0.0 32.2 17.7
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
Amara Raja Ener. [1] 1077.3 53.7 20.1 2.7 202409 9.8 -1.2 15.1 17.8 1.7 18.8 0.0 1774.9 737.7 most important number to gauge if a stock Face value other than ₹10 per share is O .....................................................................................................................................................................................................
Amber Enterp.
Ambuja Cements [2]
6611.5 65.7 100.7
501.9 16.9 29.6
10.6
2.5
202412
202412
64.8
14.8
7372.9
156.6
30.3
5.8
56.2
36.0
-5.2
-9.1
9.8
16.5
0.8 8167.1 2991.2
0.0 706.9 452.9
is expensive or cheap enough to buy. It di- mentioned in brackets next to the com- O N G C [5] 257.4 32.1 8.0 0.9 202412 -0.8 -19.4 2.5 -18.7 0.4 17.3 0.5 344.6 227.0
Oberoi Realty 1845.7 71.0 26.0 4.5 202412 33.9 71.7 31.6 59.4 5.0 16.3 0.3 2349.8 1273.5
Anand Rathi Wea. [5] 3657.3 67.6 54.1 27.7 202412 29.9 33.2 32.0 34.1 0.2 51.5 0.1 4640.6 3190.3 vides the company’s current market price pany name. As far as possible, consolid- Oil India 410.6 51.5 8.0 1.3 202409 -3.3 0.0 10.6 12.2 -3.3 18.1 0.5 767.3 288.9
Anant Raj [2] 637.6 11.3 56.6 5.7 202412 36.3 53.6 48.5 66.1 -21.3 8.2 0.3 947.3 281.2
Angel One 2480.1 148.2 16.7 4.2 202412 19.2 8.1 48.1 27.1 6.3 38.7 0.6 3502.6 2027.3 by its EPS. ated numbers (latest available) have been Olectra Greentec [4] 1452.3 16.0 90.6 12.1 202412 50.6 71.7 32.3 46.0 5.1 14.4 0.2 2222.0 1240.0
One 97 [1] 743.6 -31.4 3.3 202412 -35.9 -194.8 -27.8 -94.6 -7.9 0.0 0.0 1063.0 310.0
Anupam Rasayan 694.2 6.4 109.2 2.7 202409 -25.0 -59.0 -24.6 -60.9 0.7 9.4 0.4 978.0 633.3 PB (Price to Book value) measures a used for a holistic picture of the company’s Oracle Fin.Serv. [5] 8897.7 264.4 33.7 10.9 202412 -5.9 -26.9 9.2 7.4 -9.3 37.1 0.0 13203.6 6439.8
Apar Inds. 7390.7 201.0 36.8 7.2 202412 17.8 -19.6 13.2 -2.9 -20.6 43.9 0.1 11797.4 5500.6
APL Apollo Tubes [2] 1509.1 22.9 66.0 10.9 202412 30.1 31.1 11.7 -16.9 -3.3 24.5 0.3 1729.5 1253.0 company’s stock price relative to its book finances. P .....................................................................................................................................................................................................
Apollo Hospitals [5] 6838.8 82.3 83.1 13.1 202409 15.3 63.5 14.8 69.9 1.4 15.4 0.7 7545.1 5690.8
Apollo Tyres [1] 426.7 23.9 17.9 1.9 202409 2.5 -37.6 1.7 -3.6 0.7 15.4 0.4 584.7 407.1
value or net worth. PB is the appropriate Given that the top 500 listed companies P & G Health Ltd 5380.1 136.5 39.4 16.6 202409 2.8 25.6 -6.2 -2.1 -0.6 39.8 0.0 5836.0 4640.3
P & G Hygiene 14650.6 208.3 70.3 61.4 202409 -0.2 0.6 4.7 -7.9 0.4 99.8 0.0 17747.913691.2
Aptus Value Hou. [2] 318.4 14.2 22.5 4.0 202412 28.1 20.9 27.3 21.4 12.9 14.7 1.3 401.7 267.8 value measure for banks and asset-heavy are usually the most liquid and well-run, P I Industries [1] 3482.5 117.0 29.8 5.5 202409 4.9 5.8 10.0 18.7 -0.6 23.6 0.0 4801.4 3060.0
Archean Chemical [2] 586.5 20.5 28.6 4.1 202409 -17.2 -25.9 -16.7 -35.9 3.7 26.4 0.1 838.2 505.0
Asahi India Glas [1] 657.6 13.5 48.6 6.5 202412 8.5 28.9 4.5 1.9 1.2 14.7 0.8 833.0 502.2 companies. we’ve restricted the list to the S&P BSE 500 Page Industries 46716.6 556.8 83.9 35.0 202409 10.8 29.9 5.0 21.6 0.8 44.9 0.2 49933.233100.0
Patanjali Foods [2] 1819.2 27.5 66.2 6.1 202409 4.2 21.4 0.2 13.7 0.0 11.1 0.1 2030.0 1170.1
Ashok Leyland [1]
Asian Paints [1]
206.2 8.8 23.5
2350.8 49.0 48.0
5.9
12.5
202409
202409
-2.4
-5.3
13.9
-31.6
4.1
-0.7
21.5
-7.5
0.8
3.9
15.4
37.8
4.1 264.7 157.7
0.1 3394.0 2208.9
Sales (Qty) and Profit (Qty) capture index constituents. PB Fintech. [2] 1712.3 4.5 377.7 12.9 202412 48.3 88.0 41.7 8264.7 1.3 1.5 0.0 2255.0 851.8
PCBL Chemical [1] 389.8 11.8 33.0 3.9 202412 21.3 -36.8 40.6 -7.4 6.1 14.1 1.0 584.5 208.8
Aster DM Health. 476.4 5.3 90.6 7.9 202412 10.0 103.1 16.4 87.5 -3.7 4.8 0.9 558.3 312.3 the growth in a company’s net sales and Persistent Sys [5] 5929.7 84.7 70.0 16.6 202412 22.6 30.4 19.0 28.2 -6.8 28.7 0.1 6788.8 3232.6
Astral [1] 1509.2 19.6 77.1 12.0 202412 2.0 0.5 4.6 -6.9 2.7 25.0 0.0 2454.0 1427.0
Astrazeneca Phar [2] 7441.4 51.5 144.5 27.4 202409 31.2 -5.6 30.1 -25.6 7.4 33.3 0.0 8139.9 4050.2 net profits for the latest reporting quarter, Note: Very large percentage changes in Petronet LNG 308.6 24.3 12.7 2.5 202412 -17.1 -25.7 -0.7 3.9 -4.3 24.8 0.2 384.9 253.4
Pfizer 4555.4 134.5 33.9 5.6 202412 -0.4 2.8 0.8 21.2 -3.3 21.4 0.0 6452.9 4050.1
Atul 6210.1 141.2 44.0 3.3 202412 24.5 53.3 13.5 16.1 -5.1 9.1 0.0 8165.3 5183.1 over the previous year, in percentage sales and profit are reflective of a change Phoenix Mills [2] 1761.6 28.8 61.2 6.3 202412 -1.1 -10.1 20.7 4.5 16.1 14.8 0.5 2068.2 1189.3
AU Small Finance 601.4 27.4 22.0 2.8 202412 50.4 40.8 46.2 28.1 1.3 0.0 0.0 755.0 534.0
Aurobindo Pharma [1] 1143.0 62.2 18.4 2.2 202409 6.9 8.0 11.8 54.1 -5.7 13.5 0.2 1592.6 959.1 terms. We’ve adjusted the numbers for from near-zero or negative value. Pidilite Inds. [1] 2948.3 39.4 74.8 17.2 202412 7.6 8.2 6.0 17.1 3.3 29.3 0.1 3414.4 2503.4
Piramal Enterp. [2] 1013.6 -63.1 0.9 202412 -4.6 -121.6 -12.0 -194.0 2.2 3.9 1.8 1275.4 736.6
Authum Invest [1]
Avenue Super.
1700.3 236.4 7.2
4016.5 41.8 96.1
2.3
13.0
202412
202412
-10.8
17.7
-10.3
4.8
51.0
17.6
47.7
11.8
-3.3
12.1
33.9
19.5
0.2 2010.0 576.2
0.0 5484.0 3400.0
one-off and exceptional items. Source: Capitaline database Piramal Pharma 229.7 0.4 580.2 3.9 202412 12.5 -59.2 15.0 252.4 -1.4 5.4 0.7 307.9 114.5
PNB Housing 893.5 70.2 12.7 1.5 202412 10.7 42.8 8.4 35.4 3.4 9.2 4.2 1201.5 600.4
Axis Bank [2] 998.6 91.0 11.0 1.7 202412 11.4 3.9 16.8 18.9 5.3 0.0 0.0 1339.6 934.0
PNC Infratech [2] 304.8 48.3 6.3 1.3 202409 -25.3 -43.6 1.6 101.8 -0.5 15.0 1.5 574.5 280.0
B .....................................................................................................................................................................................................
Poly Medicure [5]
Polycab India
2428.9
5847.7
29.1
122.3
83.5
47.8
9.5
10.2
202409 24.5
202412 20.4
40.6
10.8
21.8
25.3
26.2
10.6
-0.6
-1.2
23.4
32.2
0.1 3350.0 1373.0
0.0 7607.2 4250.0
B H E L [2] 199.9 1.5 134.1 2.9 202412 32.2 123.3 17.7 15.2 -0.2 2.3 0.3 335.4 185.2
Poonawalla Fin [2] 309.0 2.2 140.5 3.0 202412 38.6 -92.9 42.1 -82.5 -2.5 10.8 1.8 514.0 270.0
BPCL 255.6 32.3 7.9 1.4 202412 -2.0 19.3 -0.9 -53.0 -3.1 31.3 1.0 376.0 248.2
Power Fin.Corpn. 404.3 64.2 6.3 1.2 202409 14.9 9.7 18.4 18.1 -1.0 10.2 8.7 580.4 351.9
Bajaj Auto 9148.2 269.8 33.9 8.3 202412 6.7 8.0 17.3 1.8 8.9 33.4 0.0 12772.2 7635.4 Company CMP EPS PE PB Year End Sales Profit Sales Profit Wkly ROCE DER Yr.High Yr.Low Power Grid Corpn 290.0 16.9 17.2 2.9 202409 0.1 0.3 -0.1 2.4 -2.0 12.7 1.5 366.2 257.8
Bajaj Finance [2] 8001.4 258.2 31.0 5.7 202412 26.8 16.7 28.5 15.9 7.6 11.9 3.9 8250.0 6190.0 Qty Qty TTM TTM Rtn Praj Industries [2] 626.1 13.5 46.2 8.9 202412 2.9 -41.6 -1.9 -11.0 -13.0 29.8 0.1 874.3 448.0
Bajaj Finserv [1] 1754.2 53.7 32.7 4.1 202412 9.3 3.4 26.5 10.0 1.5 13.2 4.7 2029.0 1419.0
Prestige Estates 1431.5 13.5 105.9 3.7 202412 -7.9 -84.8 -4.3 -65.6 14.0 15.0 1.1 2072.8 967.1
Bajaj Holdings 11745.4 674.9 17.4 2.2 202412 16.9 6.3 234.5 27.2 4.1 15.2 0.0 13221.5 7667.2
Prism Johnson 136.1 -2.2 5.3 202409 -5.3 -870.8 -3.8 -181.8 -1.4 3.1 1.7 246.1 126.8
Balaji Amines [2] 1709.2 62.2 27.5 3.1 202409 -8.8 18.1 -19.6 2.2 1.7 18.3 0.0 2550.2 1558.9
Guj.St.Petronet 335.8 26.3 12.8 1.7 202409 -6.4 -38.0 6.0 -2.4 -4.5 28.5 0.0 469.6 260.2 PTC Industries 14718.1 30.0 490.0 16.4 202409 25.8 112.7 -0.4 29.7 -4.9 10.4 0.4 17978.0 7025.1
Balkrishna Inds [2] 2749.5 91.7 30.0 5.7 202412 12.6 47.2 15.2 42.5 3.7 17.8 0.4 3378.0 2193.9
Gujarat Fluoroch [1] 3570.6 41.5 86.0 6.4 202412 15.7 57.5 0.6 -31.5 -0.8 9.6 0.3 4875.0 2480.0 Pun. & Sind Bank 48.0 1.2 38.6 3.0 202412 17.7 146.7 15.9 -7.7 4.6 0.0 0.0 77.5 40.9
Balrampur Chini [1] 482.1 21.4 22.5 2.7 202409 -15.7 -59.6 -0.3 -20.1 1.0 13.4 0.6 692.9 343.5
Gujarat Gas [2] 457.4 17.9 25.6 4.0 202409 -1.7 4.2 6.9 -2.0 -7.5 20.8 0.0 689.5 442.8 Punjab Natl.Bank [2] 99.4 14.6 6.8 0.9 202412 14.5 97.3 14.8 120.6 1.8 0.0 0.0 142.9 92.4
Bandhan Bank 151.2 15.4 9.8 1.0 202412 17.4 -41.8 20.9 -16.8 1.6 0.0 0.0 232.5 137.1
PVR Inox 1123.5 -31.3 1.6 202409 -18.9 -107.1 4.2 -34.5 5.6 0.0 1.1 1748.3 1027.1
Bank of Baroda [2] 210.9 39.5 5.3 0.8 202412 8.4 8.9 10.6 8.1 -6.3 0.0 0.0 298.5 207.6
Bank of India 108.3 18.7 5.8 0.7 202412 19.6 36.6 18.3 33.1 10.1 0.0 0.0 158.0 90.0 H .....................................................................................................................................................................................................
Q .....................................................................................................................................................................................................
Bank of Maha 50.4 6.9 7.4 1.5 202412 22.3 35.9 21.3 43.1 1.4 0.0 0.0 73.5 46.3 HPCL 344.9 28.3 12.2 1.6 202412 -0.7 256.8 2.7 -64.4 -2.2 21.1 1.7 457.2 295.4
HUDCO 217.2 13.4 16.2 2.5 202412 37.1 41.6 25.9 30.4 -1.1 9.2 4.3 354.0 152.7 Quess Corp 613.9 25.5 24.1 3.1 202412 14.0 19.8 10.6 59.9 1.2 10.6 0.3 875.0 460.0
BASF India 4460.5 147.8 30.2 5.5 202409 69.5 11.1 72.5 197.7 -3.8 22.4 0.1 8748.1 3000.0
Happiest Minds [2] 695.7 14.6 47.7 7.0 202409 28.3 -15.3 17.5 -6.0 -1.6 21.9 0.5 955.0 666.0
Bata India [5]
Bayer Crop Sci.
1377.1
5135.4
27.1 50.9
129.0 39.8
12.1
7.5
202409
202409
2.2
7.4
-11.4
-38.9
0.8
-4.9
10.6
-24.5
7.5
3.5
18.6
32.3
0.9 1632.0 1228.0
0.0 7189.9 4786.2 Hatsun Agro [1] 955.2 12.9 73.9 13.0 202412 6.5 -28.7 10.0 19.9 1.5 13.5 1.5 1380.0 913.7 R .....................................................................................................................................................................................................

BEML Ltd 3669.8 68.6 53.5 5.7 202409 -6.2 -1.5 3.5 42.2 1.0 11.7 0.1 5489.2 2675.2 Havells India [1] 1656.5 22.3 74.1 13.3 202412 10.8 -3.3 14.8 18.5 8.7 24.1 0.0 2105.0 1308.0 RCF 161.1 3.4 48.0 1.9 202409 3.2 54.7 -8.6 -56.9 -3.1 6.0 0.6 245.0 119.0
Berger Paints [1] 491.9 9.8 50.1 10.3 202409 0.3 -7.5 3.1 10.9 2.5 27.2 0.2 629.6 437.8 HBL Engineering [1] 574.7 12.5 46.0 11.6 202409 -6.4 26.7 27.9 93.2 8.5 33.5 0.1 738.7 379.0 R R Kabel [5] 1307.3 23.1 56.6 7.4 202412 9.1 -3.4 12.5 -8.3 4.7 21.8 0.3 1903.3 1180.8
Bharat Dynamics [5] 1256.5 15.1 83.2 12.3 202409 -12.2 -16.7 0.4 30.1 1.3 12.0 0.0 1794.7 776.1 HCL Technologies [2] 1692.8 62.9 26.9 6.7 202412 5.1 5.5 6.7 8.7 -5.6 28.6 0.1 2011.0 1235.0 Radico Khaitan [2] 2383.4 23.0 103.7 12.4 202412 11.5 27.1 19.5 22.5 7.8 13.1 0.3 2637.0 1429.0
Bharat Electron [1] 281.8 6.8 41.3 11.7 202412 38.6 52.5 27.5 39.8 4.3 32.6 0.0 340.4 171.7 HDFC AMC [5] 3909.2 110.5 35.4 12.3 202412 39.2 31.4 35.5 32.9 0.9 37.7 0.0 4862.0 3419.0 Rail Vikas 433.5 6.5 67.0 10.3 202409 -1.2 -27.2 -4.2 -8.9 5.7 17.6 0.8 647.0 213.0
Bharat Forge [2] 1174.4 21.8 54.0 6.3 202409 -2.3 6.6 8.1 51.2 -3.4 12.6 1.1 1826.2 1063.4 HDFC Bank [1] 1689.9 91.0 18.6 2.6 202412 9.0 2.3 30.7 17.9 2.4 0.0 0.0 1880.0 1363.5 Rainbow Child. 1422.9 22.8 62.4 10.8 202409 25.5 25.4 14.6 7.5 -1.9 19.5 0.6 1708.5 1079.3
Bharti Airtel [5] 1623.4 24.9 65.1 10.6 202409 12.0 92.8 6.3 25.3 -1.2 13.7 2.8 1779.0 1098.0 HDFC Life Insur. 625.2 8.1 77.0 8.5 202412 10.2 14.6 9.0 14.6 0.7 0.4 0.1 761.0 511.1 Rajesh Exports [1] 186.1 1.3 143.5 0.4 202409 75.8 0.6 -14.8 -96.6 -5.6 3.2 0.1 361.1 183.1
Bharti Hexacom [5] 1364.1 18.8 72.6 13.1 202409 20.7 -5.4 12.4 176.6 3.8 13.3 2.0 1606.2 755.2 HEG [2] 382.0 9.4 40.5 1.7 202409 -7.6 -14.3 -7.6 -58.6 -6.6 8.6 0.2 619.3 317.4 Ramkrishna Forg. [2] 799.3 21.0 38.0 4.9 202412 7.9 17.8 11.7 22.5 -0.8 18.5 0.6 1064.0 601.7
Bikaji Foods [1] 727.0 11.6 62.6 13.7 202409 15.8 13.0 16.8 60.3 5.7 28.5 0.2 1005.0 475.5 Hero Motocorp [2] 4402.9 206.9 21.3 4.6 202409 10.0 5.7 14.8 23.1 8.7 28.4 0.0 6245.0 3999.0 Ratnamani Metals [2] 2849.3 75.7 37.6 6.1 202409 -14.1 -38.7 0.1 -14.8 -0.4 27.5 0.1 3971.8 2580.8
Biocon [5] 370.5 6.4 57.5 2.1 202412 6.3 -96.9 3.3 -35.7 -4.6 6.4 0.9 404.6 244.4 HFCL [1] 106.1 2.6 40.5 3.7 202409 -1.6 6.4 -0.3 23.6 7.1 13.3 0.3 171.0 81.3 RBL Bank 166.6 16.4 10.2 0.7 202412 10.8 -80.7 18.9 -16.7 7.0 0.0 0.0 279.1 146.0
Birla Corpn. 1164.0 39.6 29.4 1.5 202409 -14.6 -143.0 -0.7 118.5 -0.5 9.1 0.8 1801.3 1074.2 Himadri Special [1] 495.0 10.4 47.4 7.2 202412 8.4 30.5 15.3 38.5 -3.7 18.8 0.3 688.5 272.8 REC Ltd 428.1 56.5 7.6 1.5 202409 17.1 6.5 20.3 16.9 -4.1 10.1 6.5 653.9 408.0
Birlasoft Ltd [2] 534.9 22.3 24.0 4.6 202409 4.5 -12.1 7.6 63.5 -1.9 29.4 0.0 861.6 513.5 Hind. Unilever [1] 2507.1 44.1 56.9 11.6 202412 1.9 2.9 1.7 0.4 5.8 25.0 0.0 3034.5 2170.3 Redington [2] 203.9 15.4 13.2 2.1 202409 12.0 -3.5 6.0 -3.0 -8.6 19.8 0.4 237.3 159.1
BLS Internat. [1] 437.3 10.1 43.1 12.6 202409 21.4 75.5 11.7 54.6 -0.2 35.0 0.0 522.3 262.6 Hind.Aeronautics [5] 3775.7 127.3 29.7 8.1 202409 6.0 21.8 12.4 41.0 -1.9 26.3 0.0 5675.0 2826.0 Relaxo Footwear [1] 556.4 7.0 78.9 6.9 202412 -6.4 -14.4 -3.1 -13.3 -0.3 13.6 0.1 949.9 525.0
Blue Dart Expres 6579.8 115.9 56.8 11.0 202412 9.3 -8.9 9.0 -6.0 1.9 19.8 0.9 9483.9 5490.0 Hindalco Inds. [1] 586.8 58.1 10.1 1.1 202409 7.4 96.2 3.6 55.2 -3.3 10.7 0.6 772.0 496.8 Reliance Industr 1264.7 51.1 24.7 2.1 202412 6.6 7.4 7.1 -1.0 1.5 10.5 0.6 1609.0 1202.1
Blue Star [2] 2057.9 26.7 77.1 15.5 202412 25.3 22.8 25.6 53.2 11.7 24.8 0.2 2420.0 1132.7 Hindustan Copper [5] 240.8 4.2 57.9 9.7 202409 35.9 67.5 5.7 25.6 -0.5 16.0 0.1 415.6 217.1 RHI Magnesita [1] 470.3 9.6 48.8 2.5 202409 -12.1 -35.6 5.2 27.6 -0.7 8.6 0.3 754.9 452.6
Bombay Burmah [2] 2154.4 179.7 12.0 2.9 202409 4.4 61.1 3.5 412.3 -0.4 32.8 1.0 2972.6 1322.6 Hindustan Zinc [2] 445.8 22.4 19.9 24.7 202412 17.7 32.1 8.3 13.8 -4.4 44.1 0.7 807.0 285.0 Rites 254.7 7.9 32.4 4.7 202412 -15.7 -16.7 -10.0 -18.0 -1.9 24.2 0.0 413.1 243.4
Bosch 28686.1 686.5 41.8 6.6 202412 6.2 4.4 5.2 20.2 -5.5 20.3 0.0 39052.023718.8 Hitachi Energy [2] 12215.6 74.0 165.0 36.9 202412 27.8 498.1 27.8 210.9 6.9 17.8 0.2 16534.5 5678.1 Route Mobile 1198.4 54.6 21.9 3.2 202412 15.6 -11.6 10.0 -8.6 -3.7 20.7 0.1 1942.0 1134.1
Home First Finan [2] 963.9 40.2 24.0 3.8 202412 36.9 23.5 35.9 26.0 -2.9 11.3 3.1 1383.1 777.0
Brigade Enterpr.
Britannia Inds. [1]
1160.4
5198.4
26.4 43.9
89.3 58.2
5.5
39.0
202412 24.7
202409 4.5
221.5
-9.5
31.7
3.5
107.4
-3.6
12.3
1.9
12.2
48.4
1.5 1451.9 826.3
0.7 6473.1 4643.3 Honasa Consumer 229.0 2.4 95.3 6.6 202409 -6.9 -163.1 14.1 41.0 -6.1 16.1 0.1 546.5 205.3 S ......................................................................................................................................................................................................

Honeywell Auto 39350.8 596.8 65.9 9.2 202409 -7.3 -5.6 2.6 19.0 -5.5 19.7 0.0 59700.036238.4 SAIL 106.4 7.6 13.9 0.8 202409 -17.0 -44.3 -7.6 -5.2 -1.7 7.3 0.6 175.7 99.6
C ......................................................................................................................................................................................................
I .......................................................................................................................................................................................................
Sammaan Capital [2]
Samvardh. Mothe. [1]
142.9 -21.9
142.6 5.4 26.5
0.6
3.1
202409
202409
8.8 -1026.5
18.8 183.6
5.1
23.4
-258.1
149.2
-7.8
-0.3
10.1 2.7 208.9 130.3
13.1 0.7 217.0 107.1
CPCL 541.5 25.0 21.7 1.0 202412 -25.6 -94.3 -10.3 -88.1 -2.6 35.0 0.4 1274.0 508.2
C.E. Info System [2] 1701.7 25.1 67.8 12.7 202412 24.5 5.5 23.7 10.1 2.4 28.0 0.1 2745.1 1514.7 IOB 50.3 1.6 30.5 3.6 202412 15.1 20.9 20.0 24.0 2.6 0.0 0.0 83.8 45.1 Sanofi India 5491.5 183.0 30.0 18.5 202409 6.8 2.0 -9.2 -8.5 3.0 70.6 0.0 10526.1 5172.6
Campus Activewe. [5] 292.4 3.2 91.8 12.9 202409 28.9 4368.8 5.8 -5.6 8.2 16.4 0.4 371.2 212.8 IOCL 125.5 6.4 19.7 1.0 202412 -2.9 -82.0 -2.6 -80.8 -2.1 21.2 0.9 196.8 121.3 Sapphire Foods [2] 315.5 0.9 346.8 7.4 202409 8.3 -47.0 10.5 -86.0 3.4 6.5 0.8 400.5 259.2
Cams Services 3540.4 93.0 38.1 17.0 202412 27.6 40.5 28.0 41.5 -13.6 45.7 0.1 5367.5 2707.0 I R C T C [2] 793.9 15.0 52.8 18.0 202409 7.2 4.5 14.9 11.3 0.9 48.9 0.0 1148.3 736.3 SBI Cards 824.6 21.5 38.4 6.0 202412 -0.1 -30.2 8.3 -12.7 8.8 12.5 3.2 832.9 649.0
Can Fin Homes [2] 660.5 62.5 10.6 1.9 202412 9.4 6.0 13.3 17.6 -3.2 9.3 7.6 951.5 648.2 IRFC 141.4 5.0 28.3 3.6 202412 0.4 2.0 2.0 9.2 0.4 5.7 8.9 229.1 116.7 SBI Life Insuran 1454.6 24.1 60.5 8.8 202412 11.3 71.2 13.2 29.6 0.9 0.5 0.0 1935.0 1307.0
Canara Bank [2] 92.7 18.1 5.1 0.9 202412 7.9 11.2 13.1 12.0 -4.2 0.0 0.0 129.4 87.8 ICICI Bank [2] 1255.2 69.7 18.0 3.1 202412 15.1 16.6 19.3 15.9 3.8 0.0 0.0 1361.4 985.2 Schaeffler India [2] 3448.8 58.5 58.9 11.1 202409 14.2 1.6 11.2 -0.6 8.0 26.4 0.0 4950.0 2699.6
Caplin Point Lab [2] 2089.6 64.9 32.2 6.3 202409 17.8 13.9 16.9 18.1 -2.3 26.7 0.0 2636.0 1221.0 ICICI Lombard 1881.7 50.8 37.0 6.7 202412 17.2 67.9 16.8 37.2 3.6 21.9 0.0 2285.9 1477.5 Schneider Elect. [2] 666.3 8.2 80.9 39.9 202409 21.0 17.3 21.9 15.7 -4.2 29.7 1.0 980.0 450.0
Capri Global [1] 176.5 4.6 38.0 3.6 202412 36.0 88.4 39.2 46.5 -12.0 9.5 2.4 289.4 167.1 ICICI Pru Life 606.5 6.7 90.0 7.6 202412 23.5 43.2 15.3 6.8 2.7 0.4 0.1 795.0 498.5 Sh.Renuka Sugar [1] 37.4 -2.2 -3.1 202409 -7.2 -110.9 22.3 -65.0 -0.6 0.0 0.0 56.5 34.3
Carborundum Uni. [1] 1185.4 20.9 56.7 6.8 202409 7.6 13.7 0.8 -10.2 0.0 20.4 0.1 1835.7 1026.0 ICICI Securities [5] 832.5 64.5 12.9 6.1 202412 19.9 8.3 47.5 47.4 3.6 18.1 3.3 921.5 671.6 Sheela Foam [5] 908.1 7.8 115.8 3.3 202412 10.0 -39.0 19.8 -49.5 -2.5 7.9 0.5 1170.0 775.2
Castrol India [5] 177.6 9.1 19.6 8.2 202409 8.9 6.7 5.8 10.1 1.5 56.9 0.0 284.4 162.8 IDBI Bank 79.3 6.7 11.8 1.8 202412 19.4 29.1 14.9 35.0 3.1 0.0 0.0 108.0 65.9 Shoppers Stop [5] 608.7 3.2 189.5 25.5 202412 11.5 41.7 9.9 -51.2 2.2 9.1 10.2 943.7 562.7
CCL Products [2] 646.5 20.5 31.5 4.8 202409 21.5 21.5 25.2 -2.1 5.9 12.4 0.8 854.0 551.4 IDFC First Bank 62.0 2.6 23.5 1.2 202412 18.6 -53.5 23.8 -36.3 -0.5 0.0 0.0 86.1 56.5 Shree Cement 27345.2 339.1 80.7 4.7 202412 -12.0 -72.4 -4.7 -45.5 6.0 14.6 0.1 29628.123500.2
CEAT 2917.9 127.4 22.9 2.8 202412 11.4 -46.5 8.1 -23.6 -1.1 19.2 0.6 3581.5 2211.0 IFCI 54.0 0.5 112.6 2.4 202409 1.7 -12.8 22.3 160.9 0.2 11.0 1.4 91.4 35.9 Shriram Finance [2] 531.4 43.2 12.3 1.9 202412 20.1 18.2 18.9 24.6 0.8 11.3 3.9 730.4 438.8
Central Bank 50.5 4.2 12.0 1.5 202412 8.9 31.2 13.0 49.3 0.3 0.0 0.0 76.9 46.7 IIFL Finance [2] 357.1 34.2 10.4 1.3 202409 3.8 -36.6 17.6 -14.1 -5.0 12.1 4.4 615.7 304.3 Shyam Metalics 780.4 32.5 24.0 2.1 202412 13.2 55.3 12.2 -15.3 0.5 11.4 0.1 956.1 516.2
Century Plyboard [1] 807.3 10.0 80.3 8.0 202409 18.7 -58.7 12.0 -41.4 1.2 18.0 0.3 938.6 614.3 India Cements 272.0 -17.5 1.7 202412 -15.5 -748.2 -20.0 -73.5 -7.9 -0.8 0.5 385.5 172.6 Siemens [2] 5751.1 76.3 75.4 13.3 202409 11.4 45.4 14.0 38.5 -2.2 24.2 0.0 8130.0 4113.2
Cera Sanitary. [5] 6775.8 185.2 36.6 7.2 202409 6.4 17.1 -0.2 1.5 4.3 24.1 0.0 11499.7 6129.0 Indiamart Inter. 2172.5 78.2 27.8 7.0 202412 16.0 47.7 17.1 61.1 4.3 18.8 0.0 3199.0 2025.3 SignatureGlobal [1] 1241.6 3.9 321.8 27.4 202409 660.5 -79.4 84.5 184.0 11.5 1.7 5.4 1645.9 1038.5
CESC [1] 138.9 10.5 13.2 1.5 202412 9.8 -5.7 10.0 -0.9 -0.1 10.3 1.3 212.7 109.7 Indian Bank 535.8 78.5 6.8 1.2 202412 11.0 31.9 14.2 38.4 7.0 0.0 0.0 626.4 467.2 SJVN 97.4 2.4 41.3 2.6 202409 16.8 0.3 12.0 -10.7 2.1 5.2 1.2 170.5 88.3
CG Power & Ind [2] 612.0 6.2 99.4 26.6 202412 27.1 22.5 20.5 9.5 -1.5 37.6 0.0 874.5 420.0 Indian Energy Ex [1] 169.0 4.6 36.9 14.4 202412 14.5 16.9 18.7 19.4 -0.3 51.5 0.0 244.4 129.2 SKF India 3981.9 113.4 35.1 8.6 202409 10.6 4.7 6.7 15.8 -3.8 28.8 0.0 7349.0 3910.9
Chalet Hotels 781.0 4.6 168.6 6.1 202412 22.5 36.7 20.7 -58.2 2.3 9.9 1.5 1051.2 652.0 Indian Hotels Co [1] 801.5 10.9 73.6 11.2 202412 29.0 28.8 20.4 32.5 2.5 15.9 0.3 894.2 497.8 Sobha 1378.2 5.7 240.9 3.7 202409 25.9 74.5 -18.9 -49.5 21.2 7.1 0.8 2178.7 1109.0
Chambal Fert. 490.1 38.5 12.7 2.4 202409 -19.3 40.8 -28.9 35.4 -1.2 21.0 0.4 575.0 330.9 Indian Renewable 193.9 5.7 34.0 5.6 202412 34.9 26.8 35.2 31.3 -0.5 9.3 6.2 310.0 121.0 Solar Industries [2] 10088.5 111.7 90.3 24.1 202409 27.3 42.8 -4.9 25.1 6.4 30.8 0.4 13300.0 6275.0
Chemplast Sanmar [5] 472.5 -8.1 32.8 202409 0.5 -220.0 -5.6 -462.3 -0.2 -2.8 5.2 633.0 413.8 Indraprastha Gas [2] 194.3 12.1 16.0 2.6 202412 5.7 -31.5 3.3 -13.0 1.4 28.8 0.0 285.3 153.3 Sona BLW Precis. 503.5 9.6 52.3 6.0 202412 11.0 17.1 17.2 20.2 -4.1 24.3 0.1 767.8 494.0
Chola Financial [1] 1515.7 109.4 13.9 2.5 202409 28.1 24.9 35.5 34.1 6.3 11.6 12.9 2151.5 989.1 Indus Towers 352.4 37.1 9.5 3.3 202412 4.8 159.9 5.1 79.2 -4.2 21.3 0.8 460.7 206.9 Sonata Software [1] 537.8 14.1 38.1 10.1 202409 13.5 -14.2 15.8 -16.8 -4.4 31.8 0.5 867.1 469.1
Cholaman.Inv.&Fn [2] 1266.1 48.4 26.2 5.0 202412 34.5 24.8 38.7 26.7 3.5 10.4 6.8 1650.0 1011.5 IndusInd Bank 1009.7 93.1 10.8 1.2 202412 10.6 -39.1 15.3 -16.4 6.2 0.0 0.0 1576.0 923.4 SPARC [1] 158.9 -12.7 41.3 202409 -39.3 -224.6 -73.2 -62.0 -7.1 0.0 0.1 474.0 156.5
CIE Automotive 462.7 21.6 21.4 2.8 202409 -6.4 4.3 -2.1 6.7 1.4 17.7 0.2 628.5 401.0 Info Edg.(India) 7782.8 40.3 193.1 2.4 202409 12.0 -102.8 8.8 38.8 4.5 4.2 0.0 9195.0 4967.1 SRF 2826.6 38.7 73.1 7.0 202412 13.8 7.0 4.0 -22.3 9.4 12.5 0.4 2893.2 2088.6
Cipla [2] 1437.9 61.8 23.3 4.1 202412 7.0 31.2 6.4 26.2 1.8 22.3 0.0 1702.0 1317.6 Infosys [5] 1851.9 66.6 27.8 10.1 202412 7.6 11.5 4.4 13.4 -1.2 44.7 0.1 2006.8 1359.1 St Bk of India [1] 766.1 86.1 8.9 1.6 202409 12.7 22.9 17.9 12.6 2.9 0.0 0.0 912.1 637.8
City Union Bank [1] 170.7 14.7 11.6 1.4 202412 11.5 13.0 10.8 11.4 1.7 0.0 0.0 187.8 125.4 Ingersoll-Rand 3736.8 76.4 48.9 18.5 202409 16.6 21.4 5.7 10.4 -1.1 50.8 0.0 4998.4 3153.7 Star Cement [1] 208.0 3.3 63.0 3.1 202412 10.3 -87.7 7.0 -56.0 -5.4 16.3 0.0 256.0 171.6
Clean Science [1] 1438.7 24.5 58.7 11.8 202412 23.7 4.8 19.2 2.5 3.6 29.5 0.0 1690.0 1244.5 Inox Wind 171.9 2.2 79.4 8.4 202412 145.9 372.0 135.4 157.5 20.1 0.0 1.7 262.1 107.0 Star Health Insu 442.2 13.4 33.0 3.7 202412 15.4 -25.7 15.8 -2.1 -3.0 15.8 0.1 647.7 426.5
Coal India 385.4 55.9 6.9 2.5 202412 -2.0 -17.0 -3.2 -3.6 0.6 30.5 0.1 544.7 361.3 Intellect Design [5] 823.2 19.5 42.2 4.4 202412 -3.9 -16.7 -4.8 -20.2 -7.6 19.9 0.0 1198.8 693.1 Sterling & Wils. [1] 319.8 1.2 271.4 7.7 202412 215.2 -76.7 154.9 104.4 -5.5 0.0 3.4 828.0 305.5
Cochin Shipyard [5] 1466.1 32.9 44.5 7.3 202409 13.0 4.1 56.0 123.3 0.5 21.1 0.1 2977.1 712.9 Interglobe Aviat 4491.0 157.5 28.5 45.7 202412 13.7 -18.3 17.2 -15.4 7.9 19.5 0.0 5033.2 2982.4 Sumitomo Chemi. 509.2 10.3 49.3 9.4 202412 18.4 58.9 11.4 55.3 4.9 20.6 0.0 628.0 336.4
Coforge 8075.0 114.5 70.5 9.0 202412 42.8 -9.5 23.9 4.0 -12.6 27.8 0.2 10018.0 4291.1 Ipca Labs. [1] 1415.1 26.5 53.5 5.4 202409 15.8 35.9 27.8 30.1 -6.6 12.9 0.2 1757.7 1061.0 Sun Pharma.Inds. [1] 1742.7 49.2 35.4 6.1 202412 10.5 22.7 9.4 25.7 -4.3 17.2 0.1 1960.2 1376.8
Colgate-Palmoliv [1] 2901.2 53.7 54.0 47.7 202412 4.7 -2.2 9.5 14.6 5.5 94.5 0.0 3893.0 2475.1 IRB Infra.Devl. [1] 55.7 1.2 45.0 2.4 202412 2.9 69.3 8.0 36.4 7.3 6.8 1.3 78.1 45.1 Sun TV Network [5] 625.2 46.6 13.4 2.2 202409 -10.9 -11.9 0.2 -1.3 -2.4 26.3 0.0 921.6 567.7
Concord Biotech [1] 2097.5 31.3 66.9 13.8 202409 18.2 18.2 11.9 7.7 -0.2 29.1 0.0 2658.0 1326.9 Ircon Intl. [2] 200.9 9.8 20.5 3.1 202409 -18.1 -17.9 -4.0 4.2 -2.2 15.1 0.4 351.7 175.3 Sundram Fasten. [1] 1048.3 26.1 40.2 6.1 202412 5.4 1.3 4.3 6.6 0.7 18.5 0.2 1504.1 970.1
Container Corpn. [5] 755.4 21.9 34.5 3.8 202412 -0.1 10.9 4.8 9.0 0.1 13.9 0.1 1194.0 706.6 ITC [1] 462.5 16.4 28.2 7.7 202409 16.7 2.0 7.1 2.1 4.7 37.3 0.0 500.0 377.7 Sunteck Realty [1] 469.1 13.7 34.1 2.2 202412 281.1 337.0 474.8 444.9 -0.8 4.7 0.2 698.4 379.9
Coromandel Inter [1] 1786.9 55.9 32.0 5.2 202412 26.9 121.6 -2.6 -4.7 -1.5 25.9 0.1 1977.1 1025.1 ITI 324.6 -4.9 19.2 202409 312.3 -155.1 67.0 -22.1 -5.9 0.0 0.9 592.9 210.2 Supreme Inds. [2] 3749.0 80.4 46.6 9.0 202412 2.5 -27.0 7.2 -4.9 -1.4 29.4 0.0 6482.4 3455.2
Craftsman Auto [5] 4305.5 82.3 52.3 3.7 202412 39.5 -74.0 16.6 -38.6 -5.5 20.5 1.0 7107.2 3782.1 Supreme Petroch. [2] 621.6 22.1 28.2 5.6 202412 18.1 5.4 19.0 10.9 4.6 23.8 0.0 926.3 556.6
CreditAcc. Gram. 1025.4 55.2 18.6 2.3 202412 6.8 -128.2 21.5 -34.5 12.2 14.8 3.3 1660.0 750.1 J ...................................................................................................................................................................................................... Suven Pharma [1] 1108.3 9.5 116.1 14.3 202409 11.5 3.3 -26.2 -43.7 10.2 18.7 0.0 1359.0 586.1
CRISIL [1] 5458.0 91.5 59.6 17.8 202409 10.3 12.9 7.2 10.4 3.2 40.8 0.0 6955.4 3880.8 J & K Bank [1] 100.8 19.4 5.2 0.9 202412 11.4 25.0 13.2 32.5 11.5 0.0 0.0 152.5 86.7 Suzlon Energy [2] 58.1 0.9 67.3 17.6 202412 91.2 90.6 54.1 152.3 10.6 3.7 0.4 86.0 35.5
Crompton Gr. Con [2] 369.5 7.8 47.5 7.7 202409 6.4 28.5 10.4 16.0 8.8 16.9 0.3 483.7 262.1 J B Chemicals & [1] 1782.7 39.3 45.4 8.6 202409 13.5 15.9 11.3 25.6 0.2 24.9 0.2 2029.0 1474.0 Swan Energy [1] 565.0 10.6 53.4 2.7 202409 -15.6 -39.4 68.6 83.4 -3.9 9.5 1.0 809.7 437.8
Cummins India [2] 2799.0 70.4 39.8 11.1 202409 30.2 36.5 17.2 35.0 -0.2 33.8 0.0 4169.5 2239.2 J K Cements 4719.7 80.9 58.4 6.6 202412 -0.2 -33.2 1.6 -9.8 -0.7 14.7 1.1 4970.0 3639.2 Syngene Intl. 738.7 11.9 62.3 6.8 202412 10.6 14.5 -0.7 -6.1 -7.2 13.6 0.2 960.0 608.0
JBM Auto [1] 780.3 8.1 96.4 15.0 202412 3.7 8.2 17.2 26.6 5.6 14.5 1.7 1208.7 663.4
Cyient [5] 1456.1 57.2 25.5 3.1 202412 5.8 -33.3 3.9 -11.6 8.3 20.3 0.3 2266.0 1294.8
Jindal Saw [1] 241.6 30.5 7.9 1.4 202412 -6.8 -5.0 2.3 27.2 -1.7 20.0 0.6 383.9 189.4 T ......................................................................................................................................................................................................

D ..................................................................................................................................................................................................... Jindal Stain. [2] 623.1 29.3 21.2 3.3 202412 8.5 -5.4 -0.8 -16.7 -1.5 22.2 0.4 848.0 526.6 T N Merc. Bank
Tanla Platforms [1]
438.2 72.2 6.1
559.3 38.6 14.5
0.8
3.6
202412 8.3
202412 -0.2
5.6
-15.4
11.6
6.7
6.7
-3.4
-0.2
-8.2
0.0
38.2
0.0 513.5
0.1 1086.1
418.5
539.3
Dabur India [1] 538.0 10.1 53.1 9.2 202412 3.1 1.6 2.3 0.2 3.1 23.1 0.1 672.0 489.0 Jindal Steel [1] 776.6 40.1 19.4 1.7 202412 0.4 -50.7 -0.3 -26.4 -12.0 13.1 0.4 1097.1 708.8
Dalmia BharatLtd [2] 1827.8 34.5 52.9 2.0 202412 -11.7 -76.8 -0.7 -46.8 1.6 7.0 0.3 2319.8 1664.2 Jio Financial 241.4 0.8 289.6 6.2 202412 2.5 6.7 54.2 61.6 -1.2 2.2 0.0 394.7 231.1 Tata Chemicals 964.5 23.6 40.9 1.1 202409 0.0 -43.9 -10.6 -69.6 0.7 7.5 0.3 1349.7 929.8
Data Pattern [2] 2110.2 33.1 63.8 8.8 202409 -16.0 -10.4 4.4 24.8 0.2 19.0 0.0 3654.8 1757.4 JK Lakshmi Cem. [5] 813.4 29.8 27.3 2.9 202409 -21.6 -115.1 -6.6 -1.8 -0.5 16.5 0.7 998.4 686.7 Tata Comm 1617.0 39.1 41.4 25.9 202412 3.8 897.0 15.4 16.8 -0.9 12.1 6.0 2175.0 1551.0
DCM Shriram [2] 1145.4 34.8 32.9 2.7 202412 10.8 9.0 3.1 5.3 -0.9 9.2 0.3 1370.0 840.2 JM Financial [1] 112.1 11.8 9.5 1.2 202412 -10.3 -24.8 8.0 62.0 1.6 11.3 1.9 168.9 69.0 Tata Consumer [1] 1069.5 13.3 80.3 5.5 202412 16.8 -17.4 13.7 2.5 7.8 10.6 0.2 1254.0 884.0
Deepak Fertiliz. 1132.9 69.0 16.4 2.5 202412 39.2 335.6 3.3 80.5 -3.2 10.7 0.8 1443.4 453.2 JSW Energy 472.0 10.8 43.5 3.0 202412 -4.1 -27.4 -0.8 15.3 -13.2 8.7 1.4 805.0 452.1 Tata Elxsi 6381.2 130.0 49.1 16.0 202412 2.7 -3.6 7.0 1.6 0.1 42.0 0.1 9082.9 5924.0
Deepak Nitrite [2] 2326.3 58.3 39.9 6.2 202409 14.3 -5.3 11.1 -0.4 1.5 21.6 0.0 3168.7 2022.8 JSW Infrast [2] 267.0 6.3 42.3 6.6 202412 25.7 31.6 19.8 17.5 -2.3 16.7 0.8 361.0 205.1 Tata Inv.Corpn. 6020.3 72.8 82.7 0.8 202409 15.0 -0.6 14.2 13.0 -1.6 1.7 0.0 9744.4 5155.0
Delhivery [1] 320.6 0.4 757.8 2.6 202409 12.8 -90.1 14.3 105.8 -0.3 0.0 0.1 488.1 306.5 JSW Steel [1] 934.8 14.4 64.7 2.9 202412 -1.3 -67.7 -3.1 -67.3 0.3 13.5 1.2 1063.4 762.0 Tata Motors [2] 706.1 86.5 8.2 2.6 202412 2.8 -23.0 4.5 57.8 -3.8 17.4 1.9 1179.1 684.3
Devyani Intl. [1] 181.8 0.3 679.2 18.8 202409 49.1 -100.0 35.0 -83.8 6.2 0.0 2.2 222.8 142.1 Jubilant Food. [2] 739.1 3.7 200.2 22.3 202409 42.8 -29.0 28.9 3.6 10.2 11.2 1.6 796.8 420.9 Tata Power Co. [1] 368.4 11.9 30.9 3.5 202409 -0.3 15.7 10.3 12.3 1.4 10.5 1.7 494.9 338.5
Divi's Lab. [2] 5622.3 69.2 81.3 10.9 202409 22.5 46.6 17.3 37.9 -2.5 16.4 0.0 6448.8 3350.1 Jubilant Ingrev. [1] 697.7 13.0 53.8 4.0 202412 8.9 79.9 -0.6 0.2 1.5 9.6 0.2 885.0 421.6 Tata Steel [1] 133.0 2.4 54.7 1.9 202412 -2.7 -34.7 -5.0 23.3 2.3 6.6 0.9 184.6 122.6
Dixon Technolog. [2] 14700.8 104.3 140.9 39.6 202412 117.0 77.5 106.4 77.4 -5.7 28.4 0.3 19149.8 6097.2 Jubilant Pharmo [1] 978.4 21.2 46.2 2.6 202412 8.9 72.3 7.1 791.7 6.0 6.4 0.7 1309.0 538.8 Tata Technolog. [2] 775.8 15.9 48.8 9.8 202412 2.2 -0.9 -0.7 -12.6 -0.9 28.1 0.1 1179.0 737.3
DLF [2] 760.8 15.2 50.1 4.7 202412 0.5 23.0 21.8 58.0 9.5 5.7 0.1 967.0 689.9 Jupiter Wagons 377.5 9.1 41.7 6.3 202412 15.0 19.5 24.5 44.7 -10.7 31.5 0.3 748.1 301.0 Tata Tele. Mah. 73.3 -6.6 -0.8 202412 12.4 -202.4 15.2 -6.9 -1.4 0.0 0.0 111.5 65.3
Dr Lal Pathlabs 2860.6 49.9 57.4 12.0 202412 10.7 18.9 10.7 26.3 1.2 25.6 0.2 3645.0 1943.2 Just Dial 858.7 16.9 50.7 1.8 202403 16.2 100.1 23.5 88.3 -4.9 4.7 0.0 1395.0 769.9 TCS [1] 4073.8 134.8 30.2 14.6 202412 5.6 5.1 5.6 7.0 -1.9 62.9 0.1 4585.9 3593.3
Dr Reddy's Labs [1] 1205.3 64.4 18.7 3.3 202412 15.9 2.4 14.7 2.7 -1.6 26.6 0.1 1420.2 1120.0 Jyothy Labs [1] 416.2 10.1 41.0 8.1 202412 4.0 -3.8 4.6 6.3 12.8 26.8 0.0 595.0 356.3 Tech Mahindra [5] 1645.9 38.3 43.0 6.1 202412 1.4 92.6 -0.7 33.1 -4.4 11.0 0.1 1807.4 1163.7
Jyoti CNC Auto. [2] 1029.5 12.1 85.3 15.7 202409 42.5 352.7 35.6 1137.0 -8.9 21.0 0.8 1501.7 511.4 Techno Elec.Engg [2] 1039.0 27.2 38.1 3.5 202409 -4.5 27.7 28.2 129.2 -6.5 15.6 0.0 1825.0 607.2
E ......................................................................................................................................................................................................
K .....................................................................................................................................................................................................
Tejas Networks
The Ramco Cement [1]
887.0 37.8 23.4
895.7 11.7 76.6
4.2
2.9
202412 346.0
202409 -12.7
269.2
-64.3
441.8
-2.4
798.1
-20.8
-10.7
0.8
3.5
8.1
0.3 1495.1
0.7 1059.8
652.1
700.0
Easy Trip Plann. [1] 14.4 0.5 31.6 7.6 202409 2.1 -45.2 20.0 10.0 -1.2 40.5 0.1 27.0 13.1
K E C Intl. [2] 826.4 15.8 52.2 4.4 202409 13.7 53.0 11.6 124.3 -1.0 16.0 0.9 1312.0 636.2 Thermax [2] 3866.2 54.1 71.4 10.0 202409 13.4 24.9 15.0 21.2 3.8 17.9 0.3 5835.0 3050.0
eClerx Services 3203.5 106.0 30.2 7.7 202412 13.4 -2.1 13.4 0.9 4.4 31.4 0.1 3875.2 2116.0
K P R Mill Ltd [1] 930.5 23.7 39.3 6.8 202409 -2.1 1.6 -7.7 2.6 -0.2 21.0 0.3 1192.6 700.1 Timken India 2882.6 52.5 54.9 8.4 202409 10.4 -3.3 8.4 10.3 0.7 22.8 0.0 4816.0 2490.1
Eicher Motors [1] 5388.3 155.7 34.6 7.8 202409 3.8 8.3 9.4 19.2 3.5 30.0 0.0 5425.0 3675.0
Kajaria Ceramics [1] 991.9 23.9 41.5 5.9 202409 5.1 -21.9 4.5 -5.1 -4.6 21.9 0.1 1578.3 975.6 Titagarh Rail [2] 955.0 22.6 42.3 5.5 202409 13.0 15.0 10.6 43.4 -1.4 23.8 0.2 1896.5 782.1
EID Parry [1] 811.6 41.4 19.6 1.9 202409 3.0 -32.4 -10.5 -25.8 -1.0 29.8 0.3 997.6 540.0
Kalpataru Proj. [2] 1027.8 30.7 33.5 2.8 202409 9.1 41.2 15.5 21.9 -2.6 14.6 0.8 1449.2 799.1 Titan Company [1] 3552.7 36.5 97.3 32.4 202409 25.8 -23.1 21.3 -1.8 4.5 22.5 1.2 3866.2 3059.0
EIH [2] 371.1 10.8 34.4 5.7 202409 11.0 41.1 15.4 46.3 -2.1 23.8 0.1 566.0 327.0
Kalyan Jewellers 505.2 6.4 78.4 12.0 202412 39.5 21.2 34.7 20.5 10.2 14.0 1.1 794.6 329.1 Torrent Pharma. [5] 3205.2 55.0 58.3 14.5 202412 2.6 31.9 7.6 30.0 -1.3 23.2 0.7 3590.0 2481.2
Elgi Equipments [1] 535.2 10.3 51.8 9.8 202409 7.8 3.8 7.0 -18.5 -1.1 22.4 0.4 799.0 513.3
Kama Holdings 2612.1 239.5 10.9 1.2 202409 7.7 -31.3 -0.2 -14.0 5.4 20.3 0.8 3098.0 2349.0 Torrent Power 1397.7 44.5 31.4 4.2 202409 3.1 -8.5 8.7 3.1 -4.7 14.5 1.0 2037.4 1057.0
Emami [1] 626.1 18.2 34.5 10.4 202412 5.3 5.7 6.1 9.5 13.5 31.9 0.0 859.2 417.6
Kansai Nerolac [1] 240.1 7.7 31.1 3.4 202409 -0.3 -30.7 1.3 2.1 -0.8 16.6 0.1 352.8 230.6 Trent [1] 6182.4 38.4 161.2 47.0 202409 39.4 44.3 59.5 147.5 12.6 23.5 0.9 8345.9 2956.9
Endurance Tech. 2038.9 54.7 37.3 5.4 202409 14.4 31.3 17.8 36.7 -2.7 17.1 0.1 3059.1 1718.0
Kaynes Tech 4888.3 40.4 120.9 12.0 202412 29.8 47.1 55.0 80.4 -13.0 14.6 0.1 7825.0 2425.0 Trident [1] 30.8 0.6 53.5 3.7 202412 -9.2 -26.7 1.6 -30.6 -0.9 10.5 0.4 49.1 28.1
Engineers India [5] 169.1 6.6 25.7 4.0 202409 -12.8 -21.8 -10.4 -21.7 1.2 22.1 0.0 304.0 153.1
KEI Industries [2] 3921.1 66.8 58.7 6.9 202412 19.8 9.4 17.9 16.0 -7.7 27.0 0.1 5040.4 2883.6 Triveni Turbine [1] 658.1 10.7 61.7 19.2 202412 16.6 35.5 23.0 36.4 1.3 41.5 0.0 885.0 351.2
Equitas Sma. Fin 66.7 2.7 24.3 1.3 202412 12.8 -67.2 17.6 -60.0 -1.8 0.0 0.0 109.7 61.4
KFin Technolog. 1101.9 18.7 58.8 15.6 202412 32.6 34.9 30.8 40.9 -5.4 30.2 0.1 1640.0 540.0 TTK Prestige [1] 745.7 15.3 48.8 5.5 202412 -1.5 -6.5 0.8 -7.6 -3.9 14.6 0.1 1022.0 647.4
ERIS Lifescience [1] 1237.0 25.6 48.3 6.1 202409 47.6 -25.8 40.0 -9.6 2.6 12.1 0.8 1593.0 810.1
KIOCL 331.9 -2.0 11.2 202409 -96.3 -423.6 -44.5 -298.1 -2.0 -2.0 0.2 576.6 307.0 Tube Investments [1] 3176.5 31.4 101.1 11.5 202409 14.7 -21.5 16.6 -29.4 -1.6 26.6 0.2 4807.1 3070.3
Esab India 5008.7 110.3 45.4 22.2 202409 11.9 12.4 12.0 6.8 0.3 74.9 0.0 6991.2 4618.7
Kirl. Brothers [2] 1947.9 49.6 39.3 8.4 202409 13.4 89.7 9.3 30.1 8.5 26.3 0.2 2684.7 888.0 TVS Holdings [5] 9469.7 550.3 17.2 5.8 202412 14.4 72.1 12.5 40.8 -0.7 16.8 5.8 15115.3 7875.5
Escorts Kubota 3452.6 103.8 33.2 3.9 202409 0.4 54.0 4.3 29.4 -0.3 16.1 0.0 4422.0 2647.5
Kirloskar Oil [2] 874.2 36.1 24.2 4.4 202409 15.0 56.0 13.5 41.5 -1.6 14.7 1.5 1450.0 699.7 TVS Motor Co. [1] 2557.7 41.6 61.5 15.7 202412 10.1 18.2 15.5 20.7 12.6 15.1 3.9 2958.2 1873.1
Exide Inds. [1] 382.3 9.3 41.0 2.4 202412 0.9 -21.7 4.9 -9.1 3.6 10.4 0.1 620.0 290.4
KNR Construct. [2] 293.8 39.8 7.4 2.0 202409 87.3 208.4 29.0 121.8 -0.3 25.4 0.3 415.0 236.7
F ...................................................................................................................................................................................................... Kotak Mah. Bank [5] 1903.1 98.9 19.2 3.4 202412 14.8 10.2 20.7 12.7 0.9 0.0 0.0 1953.0 1544.2 U .....................................................................................................................................................................................................

KPIT Technologi. 1415.8 27.7 51.2 15.5 202412 17.6 21.2 23.2 40.5 7.1 34.6 0.2 1928.8 1223.8 UCO Bank 42.9 2.0 21.9 2.0 202412 12.0 26.7 15.3 38.4 1.9 0.0 0.0 70.7 38.3
FDC [1] 481.1 19.4 24.7 3.4 202409 5.7 3.2 11.0 26.0 2.0 19.2 0.0 659.0 405.1
Krishna Institu. [2] 614.9 8.3 74.3 12.3 202409 19.1 16.7 12.9 -3.1 1.6 18.4 0.6 674.0 350.0 Ujjivan Small 36.7 5.0 7.3 1.2 202412 8.2 -63.8 18.3 -22.9 11.0 0.0 0.0 61.3 30.9
Federal Bank [2] 184.3 16.5 11.2 1.4 202412 19.4 -8.8 22.9 4.5 -2.0 0.0 0.0 216.9 139.8
UltraTech Cem. 11269.9 217.2 51.9 5.3 202412 2.7 -17.3 3.1 -2.2 -0.2 15.0 0.2 12143.9 9250.1
Fine Organic [5] 4452.3 143.5 31.0 6.4 202409 10.2 13.6 -10.8 -4.1 2.1 31.3 0.0 5950.0 4005.0
Finolex Cables [2] 997.5 45.7 21.8 2.9 202409 10.5 -23.5 8.4 8.5 0.2 18.5 0.0 1700.0 833.0 L ...................................................................................................................................................................................................... Union Bank (I) 112.6 21.4 5.3 0.8 202412 6.3 27.5 11.5 23.1 4.9 0.0 0.0 172.5 100.8
L&T Finance Ltd 146.1 10.3 14.2 1.5 202412 15.9 -2.2 17.9 13.0 4.5 8.2 3.6 194.2 129.2 United Breweries [1] 2232.7 17.9 125.0 14.0 202409 12.0 23.2 13.3 66.0 8.1 13.4 0.0 2260.0 1645.8
Finolex Inds. [2] 203.2 7.7 26.3 1.9 202409 -6.2 -58.5 -2.4 4.2 -2.9 11.8 0.1 355.7 195.4
L&T Technology [2] 5410.6 122.5 44.2 10.2 202412 9.5 -4.1 7.9 -0.5 -0.4 34.0 0.1 5990.0 4228.0 United Spirits [2] 1498.0 20.2 74.2 14.3 202412 14.4 8.6 7.1 15.5 1.9 27.8 0.0 1700.0 1055.7
Firstsour.Solu. 343.4 7.6 45.3 6.2 202409 25.4 9.3 13.9 -2.9 -6.8 15.4 0.4 422.8 176.7
Larsen & Toubro [2] 3447.3 100.8 34.2 5.3 202412 17.3 14.0 17.0 9.6 -0.3 14.5 1.4 3963.0 3175.5 Uno Minda [2] 992.8 15.7 63.3 10.7 202409 17.2 6.1 22.9 21.4 8.6 20.9 0.3 1252.9 605.1
Five-Star Bus.Fi [1] 743.8 35.1 21.2 3.8 202412 28.2 26.3 35.4 33.9 5.3 15.8 1.1 943.2 601.0
Latent View [1] 438.2 8.3 53.0 6.5 202409 34.2 17.2 23.0 11.1 1.2 15.2 0.0 575.0 402.1 UPL [2] 604.3 1.1 559.8 1.7 202412 10.3 -24.7 -1.0 115.7 9.6 3.8 1.0 618.0 429.7
Fortis Health. 627.3 9.2 68.4 6.0 202409 12.3 29.2 10.3 31.3 1.8 9.7 0.1 744.0 375.1
Laurus Labs [2] 595.5 3.7 160.3 7.8 202412 18.4 298.9 5.8 6.6 -1.0 6.3 0.6 619.5 372.2 Usha Martin [1] 340.3 13.5 25.1 4.0 202412 8.0 -13.9 4.8 -2.4 1.5 21.7 0.2 450.9 272.7
FSN E-Commerce [1] 175.6 0.1 1172.7 38.5 202409 24.4 71.6 24.3 116.7 4.8 6.5 0.7 229.9 140.0
Laxmi Organic [2] 220.1 4.9 44.8 3.3 202412 13.3 7.8 9.3 35.3 -1.1 9.6 0.2 325.5 208.6 UTI AMC 1053.6 63.1 16.7 3.1 202412 -7.0 -18.9 17.2 17.2 -10.2 24.2 0.0 1408.0 805.0
G ..................................................................................................................................................................................................... Lemon Tree Hotel 142.2 1.9 74.2 11.1 202409 25.2 30.9 24.6 16.7 4.9 12.6 2.5 162.3 112.3
V ......................................................................................................................................................................................................
G M D C [2] 320.5 21.0 15.3 1.7 202412 15.8 26.4 5.8 -21.8 6.1 12.5 0.0 505.0 275.3 LIC Housing Fin. [2] 584.6 93.6 6.2 1.0 202412 3.9 22.7 3.7 5.8 2.0 8.8 8.5 827.0 530.0
Life Insurance 847.8 65.6 12.9 5.5 202409 21.8 -19.8 6.1 -9.7 3.2 1.0 0.0 1221.5 804.6 Vardhman Textile [2] 453.4 29.3 15.5 1.4 202412 5.8 31.4 2.1 43.5 3.0 8.8 0.2 592.3 396.0
GNFC 553.4 30.6 18.1 1.0 202409 -7.8 -42.3 -6.2 -51.7 -0.7 6.9 0.0 776.6 516.1
Linde India 6262.8 52.2 119.9 14.9 202409 -10.8 -2.1 -4.9 6.6 7.3 17.0 0.0 9909.0 5372.1 Varroc Engineer [1] 537.3 34.5 15.6 5.1 202409 10.3 2.7 10.2 215.1 -2.3 14.8 1.3 717.0 432.2
G R Infraproject [5] 1276.7 97.2 13.1 1.6 202412 -20.6 7.8 -15.1 -18.9 0.4 16.9 0.7 1860.0 1168.7
Lloyds Metals [1] 1227.6 29.1 42.1 11.1 202412 -12.2 17.4 20.0 23.5 -10.8 78.3 0.0 1477.5 522.4 Varun Beverages [2] 561.3 7.5 74.7 11.8 202409 24.1 23.7 21.8 27.2 3.6 27.8 0.8 682.8 504.3
G S F C [2] 209.8 13.3 15.8 0.6 202409 -15.5 -3.5 -20.6 -50.0 3.5 5.6 0.0 294.9 183.7
LMW 15826.7 113.0 140.0 6.1 202412 -36.9 -80.5 -36.8 -69.9 -0.7 17.2 0.0 19031.213350.2 Vedant Fashions [1] 972.4 16.6 58.6 15.5 202409 22.7 37.3 2.5 0.8 -14.2 29.1 0.3 1511.2 886.1
GAIL (India) 175.7 16.0 11.0 1.4 202412 6.2 -31.4 3.4 30.6 -0.1 13.7 0.3 246.4 163.4
LTIMindtree [1] 5909.6 154.2 38.3 8.3 202412 7.1 -7.1 5.1 -0.6 -1.4 31.0 0.1 6764.8 4518.4 Vedanta [1] 439.8 29.7 14.8 4.6 202412 10.2 76.2 1.2 185.4 -0.5 17.6 2.4 527.0 249.8
Galaxy Surfact. 2397.5 88.4 27.1 3.7 202409 8.1 9.4 -2.1 -10.3 2.3 17.3 0.1 3366.3 2241.1
Lupin [2] 2055.2 57.6 35.7 6.0 202409 11.3 74.1 15.0 97.3 -3.7 15.3 0.3 2403.5 1493.8 V-Guard Industri [1] 385.9 6.9 56.2 8.7 202412 8.9 3.4 15.7 27.6 5.6 17.3 0.3 577.4 297.8
Garden Reach Sh. 1593.0 33.6 47.4 9.9 202409 28.4 21.1 38.9 39.1 3.7 27.0 0.1 2834.6 674.3
Vinati Organics [1] 1739.8 37.3 46.7 7.0 202412 16.4 21.8 15.0 19.5 2.9 18.4 0.0 2331.1 1462.7
Garware Tech. 800.4 22.7 35.2 7.1 202409 28.1 25.7 10.0 17.7 4.0 22.8 0.1 985.2 623.2
GE Shipping Co 1001.2 202.2 5.0 1.1 202412 -0.7 10.3 7.3 18.8 6.8 19.7 0.3 1542.8 880.0 M .................................................................................................................................................................................................... Voltas [1] 1325.4 21.7 61.2 7.0 202412 18.2 334.5 32.6 156.5 -9.0 8.4 0.1 1946.2 1015.3
M & M [5] 3080.2 95.4 32.3 5.4 202409 9.9 35.1 11.2 10.3 10.0 13.8 1.6 3237.6 1623.2
General Insuranc [5]
Gillette India
405.1 41.5
8728.5 138.7
9.8
62.9
1.2
29.3
202409
202409
-10.7
17.1
9.9
43.5
-2.8
8.8
9.8
25.0
-3.4
-7.1
12.1
52.6
0.0 525.0
0.0 10652.1
280.3
6191.0 M & M Fin. Serv. [2] 283.5 20.0 14.2 1.8 202412 17.0 47.4 19.2 27.3 5.8 8.8 4.7 342.9 246.3 W ....................................................................................................................................................................................................

Gland Pharma [1] 1528.7 42.0 36.4 2.9 202409 2.4 -15.7 36.8 -5.7 -1.8 13.4 0.0 2221.0 1413.8 MRPL 128.3 4.7 27.1 1.8 202412 -11.3 -21.1 5.5 -81.0 -4.0 24.6 1.3 289.3 120.5 Welspun Corp [5] 735.5 42.1 17.5 3.2 202409 -18.7 -23.1 7.2 36.4 -7.0 21.4 0.5 835.0 441.0
Glaxosmi. Pharma 1956.3 47.3 41.3 19.8 202409 5.6 14.6 7.6 26.1 -6.6 45.0 0.0 3088.0 1825.1 Macrotech Devel. 1280.0 25.2 50.9 7.2 202412 39.3 61.5 42.1 46.7 16.5 10.8 0.6 1648.0 978.0 Welspun Living [1] 138.2 6.7 20.5 2.9 202412 3.3 -31.6 13.1 -1.1 -9.2 15.4 0.6 213.1 122.6
Glenmark Pharma. [1] 1436.3 -70.3 4.8 202409 7.6 414.9 -0.7 -493.0 -0.7 12.1 0.3 1830.1 766.7 Mah. Scooters 9287.1 154.8 60.0 0.4 202412 -9.1 230.0 -19.8 -11.6 -0.7 0.9 0.0 12847.5 6702.0 Westlife Food [2] 779.3 0.7 1067.8 20.4 202412 9.7 -59.3 3.1 -87.1 4.5 10.8 2.2 959.5 674.8
Global Health [2] 1072.0 18.2 59.0 9.2 202409 13.3 4.5 14.5 19.4 2.4 16.5 0.6 1513.8 936.1 Mah. Seamless [5] 607.1 56.3 10.8 1.4 202412 -1.6 -32.6 -13.0 -31.7 -6.5 22.6 0.0 1047.6 562.7 Whirlpool India 1177.6 24.8 47.5 4.0 202409 12.6 42.2 14.4 58.2 -27.6 8.3 0.1 2450.0 1094.0
GMR Airports [1] 73.8 -0.8 -45.9 202412 19.2 -133.8 22.0 -8.1 3.3 0.0 0.0 103.7 68.9 Mahanagar Gas 1374.3 105.9 13.0 2.5 202412 17.8 -30.2 9.9 -19.1 7.6 36.1 0.0 1988.6 1075.0 Wipro [2] 305.0 11.8 25.7 3.9 202412 0.5 24.5 -2.1 9.9 -4.7 16.4 0.2 324.6 208.4
Mahindra Holiday 343.4 6.8 50.7 -20.2 202412 6.9 199.1 7.1 52.8 6.9 4.3 0.0 504.4 304.0
Go Digit General
Godfrey Phillips [2]
296.1 3.9
4961.5 181.5
75.4
27.3
5.9
5.5
202412
202409
5.1
19.3
176.5
22.9
19.5
21.0
134.2
17.5
-5.7
14.0
5.1
22.1
0.1 407.6
0.1 8480.0
276.8
2283.9 Mahindra Life. 405.0 3.1 131.6 3.4 202412 104.0 -145.0 -16.7 75.0 2.4 2.0 0.3 679.2 370.0 Y ......................................................................................................................................................................................................

Godrej Agrovet 748.7 21.6 34.6 6.1 202412 4.4 21.4 -1.6 24.7 5.9 14.9 0.6 877.9 475.7 Manappuram Fin. [2] 197.6 26.7 7.4 1.3 202409 21.9 2.2 27.5 21.5 0.4 13.8 3.0 230.3 138.4 Yes Bank [2] 19.1 0.7 27.5 1.3 202412 12.1 155.3 16.6 111.8 4.4 0.0 0.0 32.8 17.1
Mankind Pharma [1] 2480.8 49.5 50.1 7.6 202412 23.9 -16.2 17.0 18.2 -1.0 27.9 0.0 3050.0 1910.1
Godrej Consumer [1]
Godrej Industrie [1]
1189.9 16.9
921.7 12.0
70.6
76.7
10.0
3.7
202412
202409
3.5
22.0
-14.3
229.5
2.1
0.4
-7.8
-54.0
5.3
7.7
18.9
6.7
0.2 1541.3
3.0 1314.0
1055.6
724.4 Marico [1] 693.3 12.4 56.0 19.3 202412 15.4 4.2 7.9 9.5 4.0 42.4 0.2 736.1 486.8 Z ......................................................................................................................................................................................................

Godrej Propert. [5] 2362.4 46.1 51.2 4.2 202409 218.7 401.8 15.0 109.6 9.7 6.3 0.9 3400.0 2081.5 Maruti Suzuki [5] 12921.2 462.5 27.9 4.6 202412 15.6 16.2 10.8 19.0 7.9 21.0 0.0 13675.010400.0 Zee Entertainmen [1] 109.1 6.2 17.7 0.9 202412 -3.3 251.2 -3.5 172.3 -6.2 6.2 0.0 209.6 103.4
Granules India [1] 564.7 19.8 28.6 4.0 202412 -1.4 -6.4 -2.0 21.2 -3.0 15.2 0.4 724.6 382.1 Mastek [5] 2573.8 121.8 21.1 3.5 202412 10.9 22.1 11.6 32.8 -0.7 16.8 0.2 3375.0 2137.3 Zensar Tech. [2] 967.4 28.5 34.0 5.9 202412 10.1 -1.2 5.5 5.8 16.4 24.9 0.1 985.0 512.8
Graphite India [2] 481.8 23.9 20.2 1.6 202409 -18.9 496.0 -9.0 418.6 -3.8 1.4 0.1 709.5 458.6 Max Financial [2] 1124.4 10.0 112.7 7.5 202409 31.6 -23.9 37.4 -32.0 8.0 8.6 0.1 1311.2 864.3 ZF Commercial [5] 11015.5 215.9 51.0 7.1 202409 -8.1 3.3 -2.6 4.5 8.5 20.6 0.0 18100.1 9566.8
Grasim Inds [2] 2442.7 74.4 32.8 1.7 202409 11.1 -62.5 14.4 -19.9 -1.8 8.2 1.4 2875.5 2028.8 Max Healthcare 1107.0 10.9 101.5 12.2 202412 40.0 0.5 25.9 0.3 5.0 15.0 0.1 1227.5 707.0 Zomato Ltd [1] 236.2 0.7 343.7 7.6 202412 64.4 -57.2 69.4 5200.0 9.4 1.0 0.0 304.5 138.1
Grindwell Norton [5] 1950.1 33.8 57.7 10.5 202409 4.4 -5.6 5.8 -1.0 9.4 25.2 0.0 2959.5 1716.8 Mazagon Dock [5] 2379.9 63.7 37.3 13.2 202409 50.8 75.8 34.0 93.7 3.4 40.1 0.0 2930.0 898.6 Zydus Lifesci. [1] 973.6 42.5 22.9 4.5 202409 20.1 13.6 13.9 34.1 1.8 23.9 0.1 1323.9 752.1
Guj Pipavav Port 157.2 8.2 19.1 3.3 202409 -10.1 -16.2 4.5 11.1 4.2 22.1 0.0 250.5 138.2 Medplus Health [2] 787.2 11.1 71.2 5.8 202412 8.3 234.2 13.5 125.7 9.4 6.7 0.6 876.8 598.0 Zydus Wellness 1846.1 49.3 37.4 2.1 202409 12.1 166.1 11.0 3.8 2.5 5.1 0.1 2484.0 1441.8

CM
YK ... . . . . .. .ND-NDE
 Fund Insight . bl . 11
DELHI

businessline.portfolio
MONDAY - FEBRUARY 3 - 2025

Venkatasubramanian K
bl. research bureau
A play ‘ECB inflation goal in reach to
allow taking foot off rate brake’
on India’s
After many years of expecting
relief on the income tax front,
Union Budget 2025 finally came Bloomberg
up with measures that ensure
considerable surplus for the

spending
Consumer-price growth returning to the European Central
salaried middle class. Bank’s target will allow policymakers to stop restricting eco-
With liberal slabs and relat- nomic growth via interest rates, according to Governing
ively lower slab rates, the Fin- Council member Klaas Knot.
ance Minister’s announcement

power
“Our monetary policy is still inhibiting economic activity
is set to leave ₹1 trillion in the right now,” he said in an interview on Dutch state broadcaster
hands of taxpayers, thus creat- NPO1 on Sunday.
ing an atmosphere to jumpstart “But when we are back at 2 per cent inflation, that is no
the slowing consumption in the longer necessary, so gradually we are taking our foot off the
economy. brake and trying to aim for the moment when we have re-
Even otherwise, many seg- covered 2 per cent.”
ments in the consumption FUND CALL. ICICI Knot — who’s among the
theme have seen key stocks cor- more hawkish rate setters —
recting 20-30 per cent at least, Prudential Bharat said, “Inflation is well on
with even those considered as
defensive facing the brunt of the
Consumption Fund offers an track to return to the desired
2 per cent later this year.”

GETTY IMAGES/ISTOCKPHOTO
falling markets over the past attractive investment The ECB last week cut for
four months. Even earlier, sec- the fifth time in this cycle,
tors such as FMCG, retail and opportunity to tap into a lowering the deposit rate by a
automotive were relative under- theme revival quarter-point step to 2.75 per
performers. Thus, some degree cent. Another such move
of valuation comfort has looks very likely at the next meeting in March.
emerged in many segments with
extreme pessimism being TRADE WAR
factored in. Knot spoke the day after US President Donald Trump followed
The budget’s moves, the an- consider the ICICI Prudential pertain to the direct plan of sumption fund favours FMCG through on pledges to impose 25 per cent tariffs on imports of
nouncement of the eighth pay Bharat Consumption fund for a WHY INVEST ICICI Prudential Bharat and automobiles as its key picks. Mexican and Canadian goods, and 10 per cent on those from
commission for government timeframe of five years or more. Consumption. Though many FMCG names China, instigating a trade war that’s set to reshape global sup-
 Tax breaks in Budget to
employees and the relatively at- The fund was launched in 2019 The fund has an upside cap- have seen their stocks being in ply chains. Trump has warned the European Union that it is in
support consumption
tractive positioning of the con- and has performed well over the ture ratio of 85.9 – based on data the slow lane over the past few his crosshairs, too, saying again last week that his administra-
sumption theme make the case past five-odd years and is among theme over the past three years (Jan years, selective picks from the tion “will be doing something very substantial” when it comes
for investment from a 5-7-year the best in its category.  The fund consistently 2022-2025) – indicating that its automobile space such as to tariffs on the bloc.
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
perspective. beats its benchmark on NAV rises less than the bench- Mahindra and Mahindra as well “The EU won’t let itself be walked over” by the US on tariffs,
The theme spans several sec- DURABLE PERFORMER rolling and SIP returns mark during rallies. But more as Maruti Suzuki have worked Knot said, highlighting that it’s a “powerful trading bloc, with
tors. From a broader macroeco- ICICI Prudential Bharat Con-  Large-cap bias brings importantly, its downside cap- well for the fund. Pharma is an- 400 million consumers.”
nomic perspective, consump- sumption fund has consistently stability to the portfolio ture ratio is only 55.9, suggest- other key segment for the fund, “I think we need to make the EU stronger and more compet-
tion may be worth considering done well against the Nifty India ing that the fund’s NAV falls a lot though weightage has been re- itive,” he said.
for investors as factors such as Consumption TRI index, since less than the benchmark during duced in recent months. Retail-
favourable demographics, im- its inception. corrections. A score of 100 in- ing, consumer durables, telecom
proving per capita and dispos- On a rolling three-year basis dicates that a fund performs in services and food products have
able incomes, premiumisation from April 2019 to January 2025, the Nifty India Consumption line with its benchmark. delivered well for the fund and ETF movers
in purchases, formalisation and ICICI Prudential Bharat Con- TRI, over the same period. are key holdings.
digitisation provide a long run- sumption has delivered an aver- Again, on a three-year rolling MIXING SECTORS SMARTLY Weightages to individual Top ETFs (Exchange Traded Funds) traded on NSE based on
way for the theme’s growth. age return of 21.4 per cent annu- returns over the same period, ICICI Prudential Bharat Con- stocks is kept less than 5 per weekly change in price
In this regard, investors can ally, compared to 19 per cent for the fund has beaten the bench- sumption fund invests across cent (barring the top few firms) Weekly Volume traded
NAV (₹) Price (₹)
mark a healthy 88 per cent of the market caps. Hence, it would of the portfolio, thus ensuring change in the last
in price week
time. not be uncommon to fund mid diffused holdings. as on Feb 1 (%) (in '000s)
3-year rolling returns from Apr 2019-Jan 2025 The fund has managed to de- and small caps in significant ICICI Prudential Bharat Con-
Scheme Name Min Max Mean Median liver more than 15 per cent re- proportions in the scheme. Of sumption remains invested ETF
ICICI Prudential Bharat Consumption 13.7 28.4 21.4 22.5 turns over 92 per cent of the course, the fund is biased to- across all periods and takes very MOSL Nifty Realty ETF 95.2 94.9 11 1,398
Nifty India Consumption TRI 11.8 26.7 19.0 19.4 time and in excess of 18 per cent wards large caps with such minimal cash positions. There is UTI BSE Sensex Next 50 ETF 82.9 83.1 6.7 29
Source: ACE MF; CAGR data for direct plan
for almost 75 per cent of the stocks accounting for 60-70 per a blend of quality and value in
Mir Ast Hang Seng Tech ETF 17.5 20.6 6.5 11,859
Market capitalisation Top five sector holdings time. cent of the portfolio across mar- the fund’s sector and stock
80 20
19.6
If SIP returns (XIRR) are con- ket cycles. Therefore, around choices. Nip Ind Nifty Ind Consum ETF 126.4 126.9 6 648
68.9
sidered over the past five years, 30-35 per cent of the portfolio is Being a thematic fund, it is Axis Nifty India Consump ETF 116.9 117.2 5.7 10
60 15 the fund has given a robust 21.3 made of small and midcaps. suitable for investors with a me-
12.1 ICICI Pru Nft Ind Consum ETF 117.4 117.8 5.6 263
per cent in this timeframe. An The consumption theme dium to high-risk appetite.
10.0 Kotak Nifty Consumption ETF 116.4 116.4 5.1 15
40 10
7.8
SIP in the Nifty India Consump- spans several sectors. These in- Investors can consider taking
7.7
18.8
tion TRI would have managed clude FMCG, automobiles, tele- exposure to the fund as a part of GOLD ETFs
20 5 19.6 per cent over the same five- com services, healthcare, per- their satellite portfolio via small Edelweiss Gold ETF 83.4 84.9 3.3 154
6.6 5.7 year period. sonal products, beverages, lump-sums. Investments via the
Tata Gold ETF 8.1 8.2 2.6 41,512
0 0 The scheme has thus been leisure & entertainment, con- SIP mode with a time horizon of
Large-cap Mid-cap Auto Retail Durables consistent in delivering super- sumer durables, home innova- 7-10 years could also work well Mirae Asset Gold ETF 80.8 81.2 2.4 1,311
Small-cap Others FMCG Food ior returns over the past five- tion and the like. for those wanting to buy across
Source: Bloomberg. Returns as on February 1, 2025
Source: ACE MF; As of Dec 2024 plus years. These data points ICICI Prudential Bharat Con- market cycles.

Best NPS plans

An ETF that factors in foreign ownership Top pension funds in each category based on 5-year CAGR

Name of the fund

NAV
(₹)
as on
Returns (% CAGR) Assets
(₹ cr)
NFO REVIEW. Kotak MSCI India ETF tracks the index, which is a proxy for India among FIIs Feb 1 1-year 3-year 5-year

TIER I: EQUITY PLANS

A DYNAMIC BASKET
Dhuraivel Gunasekaran UTI Pension Fund 67.8 14.5 15.0 17.4 3,210
Name of ETF Kotak MSCI India ETF Stocks that were excluded The number of stocks in the bas-
bl. research bureau ICICI Prudential Pension Fund 68.2 11.2 14.6 17.3 17,886
Underlying benchmark MSCI India Index in the MSCI India index kets of the BSE and NSE-based
No. of stocks 156 Nifty 100 stocks indices remains constant, Kotak Pension Fund 63.3 12.4 14.3 17.2 2,610
Kotak Mutual Fund has Investable universe 85% of the Indian M-Cap Adani Energy Solutions whereas MSCI India has added TIER I: GOVERNMENT BOND PLANS
launched India’s first-ever Ex- IRFC constituents on a dynamic basis.
Criteria for methodology: Aditya Birla Sun Life Pension Scheme 18.3 10.1 7.8 7.6 1,179
change Traded Fund (ETF) that - Foreign ownership limits Adani Total Gas The basket’s stock count in-
tracks an index based on MSCI, creased from 84 to 156 over the LIC Pension Fund 29.4 10.3 7.8 7.6 6,465
- Free float M-cap LIC
a well-known US investment re- - Liquidity previous five years. HDFC Pension Fund 27.2 10.2 7.7 7.6 34,147
Nifty Midcap 150 stocks (Top 5)
search firm recognised for its 3-year return (%)* 11.4
MSCI conducts regular re- TIER I: CORPORATE DEBT PLANS
benchmark indices. The new BSE views (typically semi-annually)
5-year return (%)* 15.9 Coforge HDFC Pension Fund 27.8 9.8 7.2 8.0 20,903
fund offer (NFO), Kotak MSCI of its indices to ensure they con-
India ETF closes on February 10-year return (%)* 11.0 The Federal Bank tinue to meet the criteria for in- ICICI Prudential Pension Fund 41.9 9.5 7.0 7.8 8,631
12. Fund Managers: Devender Singhal, Satish Voltas clusion. Aditya Birla Sun Life Pension Scheme 18.7 9.6 7.0 7.8 688
The MSCI India index serves Dondapati & Abhishek Bisen Fortis Healthcare During these reviews, com-
TIER I: ALTERNATIVE INVESTMENTS
as the benchmark for the NFO, panies may be added or removed
which measures the perform- Managed to deliver similar Performance in various timeframes based on the latest data. Some of SBI Pension Fund 20.5 11.9 7.9 9.7 102
ance of large and mid-cap seg- returns of Nifty 100 TRI in long run Nifty 100 TRI (%) (INR) MSCI India (%) (INR) the reasons that could impact HDFC Pension Fund 19.9 10.1 8.4 8.5 320
25 35
ments of the India’s equity mar- MSCI India TRI (INR) the portfolio holdings include
Nifty 100 TRI (INR) LIC Pension Fund 18.3 8.3 7.1 7.2 23
ket. With 156 constituents, the 20 change in foreign ownership
25
MSCI India index covers ap- 15 limits, change in market capital- *Source: NPS Trust. Returns as on February 1, 2025
proximately 85 per cent of the 15
isation, new IPOs, sectoral ad-
10
Indian equity universe. justments and regulatory
MSCI India Index is designed
especially for global investors
5
5
changes.
MSCI India has delivered al-
WHO AM I?.
0
covering Indian companies with -5
most similar returns to that of
sufficient liquidity and foreign -5 Nifty 100 over the long run. Per-
Jan 31 Jan 30
2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

ownership limits. 2020 2025 formance as measured by five- Are you an avid investor? How well do you
It is part of the MSCI Emer- year rolling returns calculated know corporate India?
ging Markets Index, making it a Sector break-up (%) Market capitalisation break-up (%) from the last 10 years shows
As per the AMFI classification As per the AMFI classification
key benchmark for global in- that MSCI India TRI (in rupee Here’s a challenge. Using the five clues below, identify the
Large-cap
vestors looking to gain exposure Banks
Mid-cap terms) delivered a compounded company that is being talked about here
IT
to India. Petroleum Products
annualised returns of 13.2 per-
Kotak MSCI India ETF
provides a distinctive method of
Automobiles
Finance
cent while the Nifty 100 TRI
gained 13.4 per cent.
1 I am completing 30 years since my listing this
year.
selecting stocks with an interna- Pharma
tional lens, given in the context Power
Telecom - Services
SHOULD YOU INVEST? 2 I have more than a dozen subsidiaries in several
continents in a highly-regulated industry that
of index tracking that has only Stocks part of MSCI India index
Retailing require complex accounting methods while
entailed Indian investors re- Diversified FMCG
are the primary check list for
volving among the BSE and NSE 0 5 10 15 20 25 30 foreign investors looking to gain consolidating the financials and hence had to
Portfolio data were as of December 31, 2024.
indices. Nifty 100 MSCI India * Returns are CAGR (in %) as of January 30, 2025. exposure to India. report a net loss for FY23.
Kotak mutual fund has This make such stocks at-
launched two variants – an ETF
Source: Bloomberg, Kotak mutual fund, ACEMF. Compiled by: bl. Portfolio
tractive to both domestic and 3 Despite a single-digit compounded growth in sales
and operating profits over the last 10 years, I get
for Indian investors (in rupee international investors, contrib- valued at triple-digit PE multiple.
terms) and a feeder fund for US BSE or NSE that can be directly dition to the liquidity and mar- the Indian equity universe by uting to their long-term growth
investors in USD terms.
The ETF will merely replicate
compared to the MSCI India re-
garding the number of constitu-
ket capitalisation.
MSCI applies a Foreign Inclu-
market capitalisation are con-
sidered as large-caps while the
and stability.
However, this could lead to
4 My market capitalisation doubled over the last
one year before the recent decline though my
and allocate the same percent- ents. sion Factor (FIF) to account for next 15 per cent (70th to 85th fluctuation in the NAV of the Return on Equity has been below the five-year
age of its investments to the Neither the NSE nor the BSE foreign ownership restrictions percentile) are considered as ETF during adverse FII activit- average of about 5 per cent over the last three
MSCI India components. No offers an index that matches the in India. mid-caps. Small-cap companies ies. years.
currency conversion is involved 156 companies included in the The FIF represents the pro- (below the 85th percentile) are In periods of global economic
for Indian domiciled investors MSCI India portfolio, currently. portion of shares that are legally excluded from the MSCI India instability, foreign investors 5 A few months ago, I diluted equity further to
prepay debt that reduced promoter holdings
while investing in the ETF. It lies between Nifty 100 and and practically available for pur- Index. may swiftly withdraw their in-
Nifty LargeMidcap 250, among chase by foreign investors. As per the AMFI classifica- vestments, which could result in below 50 per cent. My chairman family’s request
UNIQUE OFFERING the NSE indices. Stocks with insufficient foreign tion, the allocation to large- and steep drops in stock prices. to reclassify his family as public instead of
The BSE Sensex, Nifty and room (typically less than 15 per- mid-cap stocks in the portfolio This ETF is a new and valu- promoter got rejected by the stock exchanges.
MSCI India indices are promin- FOREIGN OWNERSHIP cent) may be excluded from the of MSCI India was 84 and 16 per able addition to the list of popu-
Send your answers by Wednesday 6 p.m. to [email protected],
ent broader market benchmarks While the broad based indices index. cent respectively, as of Decem- lar large-cap index investments with your full name, postal address and phone number. A lucky winner in each
for tracking the performance of from the NSE and BSE such as Companies part of MSCI In- ber 2024. in India because of its distinct- week will get a book sponsored by UNIFI Capital as a reward.
Indian equities, but they differ Nifty 50, Nifty 100 and Sensex dia basket are classified into As per the AMFI’s sectoral ive stock picking methodology.
Contributed by Last week’s stock:
in several key aspects. prioritise the liquidity and large-cap and mid-cap segments classification, top three sectors Investors with a high-risk toler- Technocraft Industries
Here’s a comparison: It is im- higher market capitalisation, based on their free-float-adjus- in the index were Banks (18 per- ance can include this ETF in (India)
portant to highlight that there MSCI India takes into account ted market capitalisation. Com- cent), IT (12) and Petroleum their portfolio with a long-term Last week’s winner: Jass
are no relevant indices from the foreign ownership criteria in ad- panies in the top 70 per cent of Products (7). goals. Saini

CM
YK . . . . . . . . ND-NDE
 12 . bl . Star Track MF Ratings
DELHI

businessline.portfolio
MONDAY - FEBRUARY 3 - 2025

bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino
NAV Corpus 5 Year 10 Year Ratio NAV Corpus 5 Year 10 Year Ratio
Regular Direct 1 Year 3 Year Regular Direct 1 Year 3 Year
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%) (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)

★★★ HSBC Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 78.1 17386 1.7 0.7 7.5 18.9 27.0 18.3 0.46
★★★ LIC MF Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.5 465 2.4 1.0 18.4 19.9 26.0 - 0.49
EQUITY - SECTOR - BANKING FUNDS
★★★ SBI Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 163.1 33496 1.6 0.7 10.2 16.1 23.3 18.4 0.49
★★★★★ Sundaram Fin Serv Opport . . . . . . . . . . . . . . . . . . .. . . . . . . . 92.9 1424 2.1 0.8 6.1 15.8 14.2 11.7 0.24
★★★ Union Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.0 1685 2.1 1.0 5.1 15.4 24.0 13.7 0.46
★★★★ Invesco India Fin Serv . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 120.2 1148 2.2 0.9 12.4 15.8 13.8 12.6 0.24
★★ Franklin Ind Smaller Companies . . . . . . . .. . . . . . 163.7 14069 1.7 0.9 8.6 21.6 25.7 15.7 0.46
★★★★ SBI Banking & Fin Serv . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.1 6622 1.8 0.7 13.6 14.4 12.9 - 0.22
★★ HDFC Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 127.2 33893 1.6 0.7 4.2 18.9 25.8 17.2 0.46
★★★ Aditya Birla SL Bank & Fin Serv. . . . . . . . . . . .. . . . . . . . 53.2 3173 2.0 1.1 5.9 10.8 11.5 11.7 0.19
★ Aditya Birla SL Small Cap . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 78.9 5100 1.9 1.0 4.7 12.8 19.5 12.6 0.35
★★★ ICICI Pru Banking & Fin Serv . . . . . . . . . . . . . . . . .. . . . . . 118.7 8987 1.8 1.0 13.5 11.6 11.3 11.7 0.19
★ Sundaram Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 240.7 3401 2.0 0.9 8.0 17.0 24.1 13.2 0.42
★★★ Nippon Ind Banking & Fin Serv . . . . . . . . . . . .. . . . . . 552.1 6282 1.9 1.1 10.0 14.5 14.0 11.2 0.23
- Bank of India Small Cap . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.9 1658 2.0 0.5 12.2 18.0 30.5 - 0.61
★★★ Tata Banking and Fin Serv . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.6 2345 2.0 0.6 8.5 13.4 12.1 - 0.21
- Canara Robeco Small Cap. . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.5 12544 1.7 0.5 8.1 15.7 28.3 - 0.54
★★ Baroda BNP Paribas Bank&Fin Serv . .. . . . . . . . 42.5 213 2.4 0.9 10.4 13.0 10.6 9.4 0.18
- Edelweiss Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.4 4428 1.8 0.4 11.1 19.0 28.1 - 0.53
★★ LIC MF Banking & Fin Serv . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.4 256 2.4 1.1 0.0 9.5 8.9 - 0.15
- ICICI Pru Smallcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.0 8258 1.8 0.8 6.0 17.3 24.2 14.7 0.44
★ UTI Banking and Fin Serv . . . . . . . . . . . . . . . . . . . . . .. . . . . . 166.0 1154 2.2 1.2 6.2 12.3 10.5 8.8 0.17
- Invesco India Smallcap . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.9 6298 1.8 0.4 19.1 22.0 27.0 - 0.51
- Taurus Banking & Fin Serv . . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.0 11 2.5 1.8 5.7 11.3 10.7 9.7 0.18
- Tata Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.3 9699 1.7 0.3 13.1 19.9 26.9 - 0.54
EQUITY - SECTOR - IT FUNDS
EQUITY - FOCUSED FUNDS
★★★★★ ICICI Pru Technology. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 209.8 14275 1.8 1.0 18.1 9.9 28.0 17.5 0.55
bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino ★★★★★ 360 ONE Focused Equity. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.7 7112 1.8 0.9 9.7 12.9 18.5 14.6 0.36
NAV Corpus 5 Year 10 Year Ratio ★★★★ Tata Digital India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 51.3 12963 1.7 0.4 19.7 11.4 26.9 - 0.54
Regular Direct 1 Year 3 Year ★★★★★ ICICI Pru Focused Equity . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.2 9984 1.7 0.6 18.6 18.3 23.0 13.0 0.52
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)
★★★ Aditya Birla SL Digital India . . . . . . . . . . . . . . . . . .. . . . . . 178.4 5325 1.9 0.8 10.5 9.7 25.3 17.7 0.51
★★★★ HDFC Focused 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 209.8 15642 1.7 0.6 18.1 21.7 22.4 13.2 0.42
★★ SBI Technology Opport . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 216.1 4739 1.9 0.8 19.1 13.4 25.6 16.3 0.55
★★★★ Quant Focused. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 83.2 1075 2.2 0.7 4.4 16.3 20.9 14.6 0.40
★ Franklin Ind Technology . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 531.4 1989 2.0 1.0 19.9 16.9 25.1 16.7 0.53
EQUITY - LARGE CAP FUNDS ★★★ Aditya Birla SL Focused. . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 131.4 7581 1.8 0.9 12.6 12.7 15.7 11.4 0.31
★★★ Franklin Ind Focused Equity . . . . . . . . . . . . . . . . .. . . . . . 100.6 12044 1.8 0.9 12.0 14.5 18.9 12.9 0.35
EQUITY - SECTOR - PHARMA FUNDS
★★★★★ Canara Robeco Bluechip Equity . . . . . . . . .. . . . . . . . 58.9 14799 1.7 0.5 13.9 12.4 16.4 12.5 0.35 ★★★ JM Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.1 226 2.4 0.8 10.5 17.7 15.0 11.9 0.28
★★★★★ ICICI Pru Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 102.5 63264 1.5 0.9 12.0 15.8 18.4 12.9 0.36 - DSP Healthcare. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.2 3340 1.9 0.6 26.0 21.3 27.2 - 0.78
★★★ Nippon Ind Focused Equity . . . . . . . . . . . . . . . . . .. . . . . . 109.4 8194 1.9 1.2 6.1 11.5 18.0 12.5 0.33
★★★★★ JM Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 146.1 480 2.4 0.7 5.1 14.1 16.6 9.8 0.49 - ICICI Pru (P.H.D) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 37.1 5320 1.9 1.1 28.1 23.4 28.1 - 0.84
★★★ SBI Focused Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 329.3 34680 1.6 0.8 17.0 11.8 15.8 13.4 0.32
★★★★ Baroda BNP Paribas Large Cap . . . . . . . . . . .. . . . . . 208.4 2421 2.0 0.8 12.3 14.3 16.3 11.7 0.34 - LIC MF Healthcare . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.6 86 2.5 1.2 26.5 17.4 21.2 - 0.62
★★★ Sundaram Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 153.8 1104 2.2 1.2 12.9 11.8 17.2 12.3 0.36
★★★★ Edelweiss Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 79.3 1110 2.2 0.6 10.9 13.5 15.8 11.8 0.31 - Mirae Asset Healthcare . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.4 2864 1.9 0.5 20.8 17.6 26.0 - 0.77
★★ DSP Focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.4 2482 2.0 1.0 14.2 14.0 14.3 11.1 0.27
★★★★ Kotak Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 532.3 9411 1.8 0.6 12.6 12.6 16.1 11.7 0.31 - Nippon Ind Pharma . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 480.4 8915 1.8 0.9 15.2 18.8 25.2 13.9 0.73
★★ Motilal Oswal Focused . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.6 1750 2.0 0.9 -1.1 8.2 10.7 9.5 0.22
★★★★ Nippon Ind Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 83.6 35700 1.6 0.7 12.9 18.2 18.8 12.9 0.35 - SBI Healthcare Opport . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 412.2 3628 1.9 0.9 26.7 23.5 27.1 12.6 0.77
★ Axis Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.6 13068 1.7 0.8 10.6 5.2 10.0 10.9 0.20
★★★ Aditya Birla SL Frontline Equity . . . . . . . . . .. . . . . . 488.6 28786 1.7 1.0 11.7 12.8 16.1 11.3 0.31 - Tata India Pharma & Healthcare . . . . . . . . .. . . . . . . . 29.3 1287 2.1 0.7 22.1 20.2 25.0 - 0.76
★ Bandhan Focused Equity . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 82.3 1837 2.1 0.8 17.8 14.7 15.9 11.1 0.33
★★★ Bandhan Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 70.8 1769 2.1 0.9 10.8 12.1 15.6 10.7 0.32 - UTI Healthcare . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 270.7 1236 2.2 1.2 25.0 19.8 25.2 11.7 0.73
- Baroda BNP Paribas Focused . . . . . . . . . . . . . .. . . . . . . . 20.5 684 2.3 0.5 9.4 12.6 14.5 - 0.29
★★★ HDFC Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1077.3 35975 1.6 1.0 8.3 15.6 17.2 11.6 0.32 - LIC MF Focused . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.4 137 2.5 1.6 11.9 10.2 14.8 - 0.29 HYBRID - AGGRESSIVE HYBRID FUNDS
★★★ HSBC Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 451.8 1906 2.1 1.2 11.1 12.4 14.9 11.1 0.30
★★★ Invesco India Largecap . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 63.9 1324 2.1 0.8 13.2 12.3 16.2 11.7 0.32 EQUITY - VALUE FUNDS ★★★★★ BOI AXA Mid & Small Cap Eq&Debt. . . . .. . . . . . . . 35.6 1108 2.1 0.8 10.6 14.8 22.6 - 0.52
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
★★★ Mirae Asset Large Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 104.4 38752 1.5 0.6 9.8 10.1 14.2 12.2 0.27 ★★★★★ Quant Absolute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 391.3 2115 2.0 0.7 2.5 12.6 22.6 14.2 0.52
★★★ SBI Blue Chip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.5 49683 1.5 0.8 11.8 12.7 15.7 11.9 0.31 ★★★★★ ICICI Pru Value Discovery . . . . . . . . . . . . . . . . . . . . . .. . . . . . 436.2 48308 1.6 1.1 14.6 19.7 25.0 14.3 0.54
★★★★ Baroda BNP Pari Aggressive Hybrid . .. . . . . . . . 26.5 1184 2.1 0.6 13.0 12.9 14.9 - 0.37
★★★ Tata Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 472.9 2415 2.0 1.0 10.0 12.3 15.6 10.9 0.30 ★★★★★ JM Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 93.6 1085 2.2 1.0 7.6 22.0 22.2 15.7 0.43
★★★★ ICICI Pru Equity & Debt . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 361.4 39770 1.6 1.0 12.8 17.1 21.1 14.5 0.47
★★★ UTI Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 259.4 12617 1.8 0.9 11.0 9.9 14.9 10.7 0.29 ★★★★ Bandhan Sterling Value . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 139.7 9947 1.8 0.7 8.7 15.6 23.2 14.2 0.39
★★★★ JM Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 115.7 763 2.3 0.7 11.0 19.5 22.8 11.6 0.55
★★ Axis Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.0 33127 1.6 0.7 11.1 8.2 12.1 11.0 0.25 ★★★★ Nippon Ind Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 211.4 8564 1.8 1.1 12.9 19.6 22.9 14.8 0.43
★★★★ Kotak Equity Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 58.4 6913 1.8 0.5 15.4 13.4 16.5 12.0 0.36
★★ Franklin Ind Bluechip . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 954.7 7683 1.9 1.1 12.0 10.8 15.3 10.2 0.29 ★★★ HSBC Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 101.3 13565 1.7 0.8 13.3 20.1 22.4 15.6 0.40
★★★ Canara Robeco Equity Hybrid . . . . . . . . . . . . .. . . . . . 336.4 10747 1.7 0.6 10.9 11.0 14.5 11.5 0.38
★★ LIC MF Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 52.9 1448 2.1 1.0 11.6 9.2 12.4 9.6 0.25 ★★★ Tata Equity P/E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 327.5 8592 1.8 0.8 10.7 18.4 18.8 13.7 0.38
★★★ DSP Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 335.0 10306 1.8 0.7 15.0 12.8 14.8 12.0 0.35
★★ Union Largecap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.0 437 2.5 1.6 6.3 10.3 14.5 - 0.28 ★★★ Templeton India Value . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 675.9 2154 2.1 0.9 9.5 18.0 22.7 13.4 0.41
★★★ Franklin Ind Equity Hybrid . . . . . . . . . . . . . . . . . . . .. . . . . . 256.3 2078 2.1 1.0 12.0 13.3 15.5 11.0 0.36
★ DSP Top 100 Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 442.6 4504 1.9 1.1 18.1 15.5 14.5 10.2 0.26 ★★★ UTI Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 158.4 9914 1.8 1.1 19.0 16.2 19.2 11.9 0.38
★★★ HDFC Hybrid Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 111.5 23912 1.7 1.1 8.9 11.7 15.1 9.4 0.34
★ Groww Largecap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.4 125 2.4 1.0 6.2 11.1 12.2 10.1 0.23 ★★ HDFC Capital Builder Value . . . . . . . . . . . . . . . . . .. . . . . . 681.2 7252 1.8 1.0 13.4 15.7 19.1 12.7 0.35
★★★ Mirae Asset Aggressive Hybrid . . . . . . . . . . . . .. . . . . . . . 29.9 8893 1.7 0.4 9.9 10.7 13.9 - 0.32
★ PGIM India Large Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 317.7 587 2.4 0.9 7.7 9.7 12.4 9.4 0.23 ★★ Quantum Long Term Equity Value . . . . .. . . . . . 121.2 1169 2.0 1.1 16.3 16.9 18.2 12.0 0.35
★★★ SBI Equity Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 274.9 71636 1.4 0.7 12.5 11.0 13.3 11.1 0.31
- Mahi Manu Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.6 589 2.3 0.7 10.5 11.3 15.0 - 0.30 ★ Aditya Birla SL Pure Value . . . . . . . . . . . . . . . . . . . . .. . . . . . 118.8 6291 1.9 1.1 6.8 17.6 20.3 11.8 0.37
★★★ Sundaram Aggressive Hybrid . . . . . . . . . . . . . .. . . . . . 151.8 5544 1.8 0.7 10.6 11.0 14.4 11.4 0.35
- Taurus Large Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 147.6 49 2.6 2.5 9.7 13.3 14.0 8.8 0.27 - Groww Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.5 46 2.3 0.9 3.8 12.4 15.4 - 0.31
★★★ UTI Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 384.5 6099 1.9 1.2 15.1 15.3 17.9 11.5 0.40
- LIC MF Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.9 154 2.4 1.0 13.6 14.3 17.4 - 0.36
★★ Aditya Birla SL Equity Hybrid '95 . . . . . . . .. . . 1426.3 7538 1.9 1.1 11.3 10.4 13.3 9.6 0.28
EQUITY - LARGE & MID CAP FUNDS - Union Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.0 299 2.5 1.3 7.0 15.6 19.4 - 0.38
★★ Bandhan Hybrid Equity . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.5 826 2.3 1.0 11.4 11.2 14.8 - 0.33
★★★★★ HDFC Large and Mid Cap . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 313.6 23899 1.7 0.9 10.3 18.8 22.0 12.9 0.41 EQUITY - TAX SAVING (ELSS) FUNDS ★★ HSBC Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 51.5 5728 1.9 0.8 11.7 11.6 13.6 10.4 0.30
★★★★★ Quant Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 113.3 3658 1.9 0.6 7.5 19.3 24.0 16.8 0.51 ★★ Tata Hybrid Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 417.4 4099 1.9 1.0 10.2 11.0 13.8 9.6 0.32
★★★★ Bandhan Core Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 122.8 7641 1.8 0.6 15.8 20.7 21.3 14.5 0.40 ★★★★★ Bank of India ELSS Tax Saver . . . . . . . . . . . . . . .. . . . . . 152.6 1441 2.0 0.8 7.6 15.7 21.5 14.7 0.46 ★ LIC MF Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . .. . . . . . 183.2 529 2.5 1.4 10.5 9.8 10.5 7.6 0.24
★★★★ ICICI Pru Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . .. . . . . . 927.0 17680 1.7 0.9 17.1 19.4 22.6 14.1 0.43 ★★★★★ Quant ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 338.5 10513 1.7 0.6 -1.4 15.0 28.9 19.0 0.53 ★ Nippon Ind Equity Hybrid . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 97.5 3844 2.0 1.1 10.3 13.6 12.5 9.1 0.21
★★★★ Kotak Equity Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 313.0 25784 1.6 0.5 14.6 16.9 18.7 14.1 0.37 ★★★★★ SBI Long Term Equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 413.1 27791 1.6 1.0 17.3 22.6 23.0 13.6 0.46 - Axis Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.3 1576 2.2 1.1 12.8 7.7 11.3 - 0.25
★★★★ Mirae Asset Large & Midcap . . . . . . . . . . . . . . . . . .. . . . . . 137.1 38335 1.5 0.6 7.1 11.9 18.7 16.7 0.36 ★★★★ Bandhan ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 142.4 6822 1.8 0.7 6.3 13.1 20.5 13.8 0.37 - Edelweiss Aggressive Hybrid . . . . . . . . . . . . . . .. . . . . . . . 59.4 2363 2.0 0.4 13.7 15.4 17.0 11.6 0.40
★★★ Canara Robeco Emerging Equities . . . .. . . . . . 237.6 24887 1.6 0.6 17.8 13.5 18.6 15.1 0.38 ★★★★ Canara Robeco ELSS Tax Saver . . . . . . . . . . .. . . . . . 163.8 8696 1.7 0.6 12.0 12.1 18.6 13.0 0.39 - Groww Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.6 45 2.3 0.9 6.8 10.3 12.2 - 0.27
★★★ DSP Equity Opport. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 574.6 13983 1.7 0.7 16.1 17.4 19.1 14.5 0.38 ★★★★ DSP ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 129.7 16610 1.6 0.7 16.7 16.6 20.1 14.9 0.39 - Invesco India Aggressive Hybrid . . . . . . . . .. . . . . . . . 21.6 598 2.4 0.8 18.7 14.3 14.0 - 0.32
★★★ Edelweiss Large & Mid Cap . . . . . . . . . . . . . . . . . . .. . . . . . . . 81.2 3796 1.9 0.4 13.7 15.7 19.2 13.3 0.39 ★★★★ JM ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 46.0 186 2.4 1.3 16.5 17.3 19.7 14.3 0.38 - Navi Aggressive Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.6 120 2.3 0.4 10.4 11.1 12.2 - 0.26
★★★ Invesco India Large & Mid Cap . . . . . . . . . . . . .. . . . . . . . 87.9 6712 1.8 0.7 21.4 18.8 19.0 14.2 0.38 ★★★★ Mirae Asset ELSS Tax Saver . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.6 25021 1.6 0.6 10.3 12.8 18.5 - 0.36 - PGIM India Hybrid Equity . . . . . . . . . . . . . . . . . . . . . .. . . . . . 123.5 211 2.3 0.8 12.7 9.5 11.7 7.8 0.24
★★★ LIC MF Large & Midcap. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.6 3142 1.9 0.6 16.3 14.1 17.2 - 0.35 ★★★★ Motilal Oswal ELSS Tax Saver . . . . . . . . . . . . . .. . . . . . . . 47.5 4415 1.8 0.6 21.7 20.9 19.7 16.4 0.38 - Shriram Aggressive Hybrid . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.7 49 2.4 0.9 3.2 9.5 11.1 8.3 0.27
★★★ SBI Large & Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 571.7 29268 1.6 0.7 11.8 15.6 19.2 14.0 0.37 ★★★ Baroda BNP Paribas ELSS Tax Saver .. . . . . . . . 89.4 951 2.2 1.0 14.9 14.2 16.1 11.5 0.34
★★★ Franklin Ind ELSS Tax Saver. . . . . . . . . . . . . . . . . .. . . 1388.8 6855 1.8 1.0 13.3 16.5 19.2 12.5 0.35
HYBRID - BALANCED ADVANTAGE FUNDS
★★★ Tata Large & Mid Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 490.4 8245 1.8 0.6 8.3 14.5 17.1 12.5 0.35
★★★ UTI Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 167.7 4134 1.9 1.0 19.2 19.2 21.9 12.7 0.41 ★★★ HDFC ELSS Tax saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1293.0 15729 1.7 1.1 15.6 20.6 20.5 12.0 0.38
★★★★★ Edelweiss Balanced Advantage . . . . . . . . . .. . . . . . . . 48.2 12428 1.7 0.5 9.2 10.4 13.9 10.0 0.51
★★ BOI Large & Mid Cap Equity . . . . . . . . . . . . . . . . . .. . . . . . . . 82.0 367 2.3 1.2 7.7 13.8 17.5 10.9 0.36 ★★★ ICICI Pru Long Term Equity . . . . . . . . . . . . . . . . . . .. . . . . . 856.8 13847 1.7 1.1 12.0 12.9 16.9 11.9 0.32
★★★★★ ICICI Pru Balanced Advantage . . . . . . . . . . . . .. . . . . . . . 69.0 60434 1.5 0.9 10.7 11.8 12.6 10.6 0.31
★★ Navi Large & Midcap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.7 319 2.3 0.4 9.7 10.8 15.6 - 0.30 ★★★ Invesco India ELSS Tax Saver . . . . . . . . . . . . . . .. . . . . . 119.6 2960 1.9 0.8 13.9 12.8 17.0 13.0 0.34
★★★★ Aditya Birla SL Bal Advantage . . . . . . . . . . . . . .. . . . . . . . 99.0 7305 1.8 0.7 11.1 10.9 12.1 10.1 0.31
★★ Nippon Ind Vision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1356.3 5588 2.0 1.4 16.7 18.5 20.0 11.5 0.38 ★★★ Kotak ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 108.5 6219 1.8 0.6 13.4 14.7 17.5 13.0 0.34
★★★★ HSBC Balanced Advantage . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.5 1528 2.1 0.8 9.8 10.5 10.2 7.4 0.33
★★ Sundaram Large and Mid Cap . . . . . . . . . . . . .. . . . . . . . 79.7 6913 1.8 0.7 13.0 13.1 16.4 13.3 0.31 ★★★ Mahi Manu ELSS Tax Saver. . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.3 919 2.2 0.6 6.6 12.0 17.4 - 0.35
★★★ Bandhan Balanced Advantage . . . . . . . . . . . .. . . . . . . . 23.0 2273 2.0 0.8 10.3 8.6 10.0 7.8 0.24
★ Aditya Birla SL Equity Advantage . . . . . . .. . . . . . 833.0 5827 1.9 1.1 8.1 7.5 13.7 10.9 0.25 ★★★ PGIM India ELSS Tax Saver . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.9 778 2.3 0.7 12.3 10.9 17.4 - 0.35
★★★ DSP Dynamic Asset Allocation . . . . . . . . . . . .. . . . . . . . 26.1 3179 1.9 0.7 11.4 9.7 9.8 8.5 0.29
★ Franklin Ind Equity Advantage . . . . . . . . . . . .. . . . . . 176.2 3491 2.0 1.3 13.9 12.6 16.8 10.9 0.30 ★★★ Union ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 59.7 923 2.3 1.4 8.0 13.1 18.2 10.7 0.37
★★★ Invesco India Balanced Advantage . . . .. . . . . . . . 51.6 945 2.2 0.8 11.6 11.8 11.4 9.0 0.27
- Axis Growth Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.5 14099 1.7 0.6 18.3 13.9 20.0 - 0.42 ★★★ UTI ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 193.4 3805 1.9 0.9 9.9 9.8 15.5 11.1 0.31
★★★ Sundaram Balanced Advantage . . . . . . . . .. . . . . . . . 33.4 1533 2.1 0.6 8.7 9.8 9.9 7.1 0.37
- HSBC Large & Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.8 4310 1.9 0.9 17.0 15.6 18.1 - 0.36 ★★ Edelweiss Long Term Equity . . . . . . . . . . . . . . . .. . . . . . 103.5 398 2.4 0.7 12.6 13.1 16.1 11.2 0.31
★★ Bank of India Balanced Advantage . . . .. . . . . . . . 23.5 133 2.3 1.2 3.3 12.8 10.3 6.8 0.31
★★ HSBC ELSS Tax saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 125.1 4313 1.9 1.1 18.9 16.4 17.5 12.6 0.32
★★ Motilal Oswal Balanced Advantage . . .. . . . . . . . 19.1 1114 2.2 0.9 -3.7 7.0 7.6 - 0.20
EQUITY - FLEXI CAP FUNDS ★★ LIC MF ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 146.0 1150 2.1 1.0 19.0 13.7 14.5 11.1 0.29
★ UTI-Unit Linked Insurance . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.0 5434 1.6 1.0 11.5 6.9 9.3 7.6 0.27
★★ Quantum ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . .. . . . . . 120.3 213 2.0 0.9 15.9 17.0 18.2 11.9 0.35
★★★★★ JM Flexicap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 96.4 5338 1.8 0.6 17.8 22.9 22.4 15.6 0.46 - Axis Balanced Advantage . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.0 2634 2.0 0.8 15.0 12.1 12.0 - 0.41
★★ Sundaram ELSS Tax Saver . . . . . . . . . . . . . . . . . . . .. . . . . . 473.9 1346 2.2 1.7 12.2 12.6 17.9 12.6 0.36
★★★★★ Parag Parikh Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 80.5 87539 1.3 0.6 20.6 17.5 24.1 17.4 0.53 - Baroda BNP Pari Balanced Adv . . . . . . . . . . .. . . . . . . . 22.7 4221 1.9 0.8 10.1 12.0 14.9 - 0.46
★★ Tata ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.6 4641 1.8 0.7 12.2 13.7 16.6 13.5 0.33
★★★★ Franklin Ind Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1530.4 17947 1.7 0.9 13.0 16.2 20.7 13.2 0.40 - HDFC Balanced Advantage . . . . . . . . . . . . . . . . . . .. . . . . . 488.8 95521 1.4 0.8 10.1 19.5 19.6 13.5 0.42
★ Aditya Birla SL ELSS Tax Saver . . . . . . . . . . . . .. . . . . . . . 54.6 15343 1.7 1.0 9.6 9.9 10.9 9.7 0.22
★★★★ HDFC Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1814.3 66344 1.4 0.8 17.8 21.1 22.4 14.0 0.41 - Kotak Balanced Advantage . . . . . . . . . . . . . . . . . .. . . . . . . . 19.5 16937 1.7 0.6 11.7 10.7 11.5 - 0.29
★ Axis ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 90.1 35954 1.5 0.8 14.7 8.8 12.4 11.5 0.24
★★★★ PGIM India Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.6 6330 1.8 0.4 11.1 8.3 18.7 - 0.37 - Nippon Ind Balanced Advantage . . . . . . . .. . . . . . 167.4 8808 1.8 0.6 10.3 11.4 12.0 9.4 0.33
★ Nippon Ind ELSS Tax Saver . . . . . . . . . . . . . . . . . . .. . . . . . 117.4 15199 1.7 1.0 10.2 14.9 16.5 9.0 0.29
★★★★ Union Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.2 2299 2.0 1.0 7.3 12.4 17.7 10.9 0.36 - Tata Balanced Advantage . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.6 10217 1.7 0.4 7.5 10.4 12.5 - 0.41
- Groww ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.6 50 2.3 0.6 5.7 11.8 13.2 - 0.27
★★★ Aditya Birla SL Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . .. . . 1640.0 22174 1.7 0.9 12.3 13.2 16.1 12.8 0.30 - Union Balanced Advantage . . . . . . . . . . . . . . . . . .. . . . . . . . 19.1 1431 2.1 0.9 6.2 8.6 11.3 - 0.32
- HSBC Tax Saver Equity . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 87.8 261 2.5 1.6 18.5 15.4 17.5 12.1 0.34
★★★ Canara Robeco Flexi Cap . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 312.6 12805 1.7 0.6 12.1 11.2 16.6 12.3 0.35 - Navi ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.6 61 2.3 0.4 6.4 10.0 12.7 - 0.24
★★★ DSP Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 95.3 11569 1.7 0.7 12.1 13.3 16.6 12.6 0.33 bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Tracking
- Shriram ELSS Tax Saver . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.0 55 2.3 0.8 -3.1 9.0 12.3 - 0.28 NAV Corpus
Regular Direct 1 Year 3 Year 5 Year 10 Year Error
★★★ Edelweiss Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.6 2469 1.9 0.4 15.3 15.7 18.4 - 0.37 - Sundaram Diversified Equity . . . . . . . . . . . . . . .. . . . . . 206.2 1529 2.2 1.6 9.6 11.7 14.7 10.6 0.27 (₹) (₹ Cr) CAGR CAGR CAGR CAGR (%)
★★★ HSBC Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 202.8 5042 1.9 1.2 14.5 14.7 17.7 11.6 0.34 - Taurus ELSS Tax Saver. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 176.9 80 2.5 1.9 10.6 16.2 16.6 12.3 0.33
★★★ Kotak Flexicap. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 77.5 50426 1.5 0.6 13.1 13.7 15.4 12.6 0.29
★★ Bandhan Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 192.4
★★ LIC MF Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 94.0
7181
1062
1.9
2.3
1.1
1.2
11.3
10.8
11.7
12.0
14.1 10.5
12.8 8.2
0.28
0.27
EQUITY - CONTRA FUNDS PASSIVE FUNDS
★★ SBI Flexicap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 104.5 22092 1.7 0.8 9.0 11.3 15.1 12.5 0.30 - Invesco India Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 125.6 18153 1.6 0.5 19.0 17.6 20.2 14.8 0.40
★★ UTI Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 306.9 26062 1.7 1.1 14.3 6.6 14.3 11.4 0.29 - Kotak India EQ Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 138.8 3986 1.9 0.6 11.5 18.4 20.0 14.2 0.38 PASSIVE FUNDS - TRACKING NIFTY 50 INDEX
★ Motilal Oswal Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 56.6 13162 1.7 0.9 25.2 18.8 15.7 13.2 0.31 - SBI Contra . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 364.2 42181 1.5 0.6 11.5 21.5 28.1 14.8 0.57
- HDFC Nifty 50 Indx Fund . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 221.6 18249 0.4 0.2 9.1 11.5 15.2 11.1 0.06
★ Taurus Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 217.6 368 2.6 2.6 8.4 13.5 14.2 8.6 0.27 EQUITY - DIVIDEND YIELD FUNDS - Nippon Ind ETF Nifty 50 BeES . . . . . . . . . . . . . .. . . . . . 262.6 36639 0.0 - 9.5 11.4 15.7 11.5 0.04
- Axis Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.6 12880 1.7 0.7 15.0 9.7 13.9 - 0.30
- SBI Nifty 50 ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 248.2 192978 0.0 - 9.5 11.4 15.6 - 0.04
- Navi Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.6 260 2.3 0.4 5.3 10.8 14.0 - 0.26 ★★★★★ Templeton India Equity Income. . . . . . . . . .. . . . . . 135.7 2367 2.1 1.2 12.1 18.1 23.9 14.6 0.49
- UTI Nifty ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 255.5 57902 0.1 - 9.5 11.4 15.6 - 0.04
- Quant Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 92.7 7185 1.8 0.6 1.9 17.0 29.9 17.7 0.58 ★★★★ ICICI Pru Dividend Yield Equity. . . . . . . . . . . .. . . . . . . . 48.8 4766 1.9 0.6 15.0 21.4 25.1 14.4 0.49
- UTI Nifty 50 Indx Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 160.5 20010 0.3 0.2 9.1 11.6 15.4 11.3 0.06
- Shriram Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.2 145 2.4 0.8 -4.2 9.3 12.1 - 0.26 ★★★ Aditya Birla SL Dividend Yield . . . . . . . . . . . . . .. . . . . . 433.9 1511 2.2 1.4 8.1 20.1 21.2 11.4 0.42
- Tata Flexi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.4 2902 1.9 0.7 11.2 12.2 14.5 - 0.30 ★★ UTI Dividend Yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 168.5 4082 2.0 1.4 19.4 17.2 20.7 12.8 0.44 PASSIVE FUNDS - TRACKING BSE SENSEX INDEX
★ Sundaram Dividend Yield . . . . . . . . . . . . . . . . . . . . .. . . . . . 130.4 929 2.3 1.0 7.8 15.2 18.8 13.4 0.40
EQUITY - MULTI CAP FUNDS - HDFC BSE Sensex Indx Fund . . . . . . . . . . . . . . . .. . . . . . 713.3 7744 0.4 0.2 8.9 11.1 14.5 11.2 0.06
- LIC MF Dividend Yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.4 494 2.4 0.7 16.1 18.1 20.6 - 0.44
- SBI BSE Sensex ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 848.0 114572 0.0 - 9.4 10.9 15.0 11.7 0.04
- Baroda BNP Paribas Multi Cap . . . . . . . . . . . .. . . . . . 273.0 2850 2.0 1.0 17.4 16.4 21.8 13.0 0.44 EQUITY - THEMATIC - CONSUMPTION FUNDS - UTI Sensex ETF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 842.8 44122 0.1 - 9.4 10.9 15.0 - 0.04
- ICICI Pru Multicap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 745.2 14019 1.8 1.0 14.2 18.6 20.0 13.9 0.37
- Invesco India Multicap . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 125.3 3983 1.9 0.7 16.7 16.2 19.8 13.6 0.39 ★★★★★ Canara Robeco Consumer Trends. . . . . .. . . . . . 102.1 1751 2.1 0.8 13.9 15.6 18.6 14.6 0.39 PASSIVE FUNDS - TRACKING NIFTY NEXT 50 INDEX
- Mahi Manu Multi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.2 5011 1.8 0.4 6.8 15.6 22.1 - 0.44 ★★★★ Mirae Asset Great Consumer . . . . . . . . . . . . . . . .. . . . . . . . 86.7 4152 1.9 0.5 11.4 17.0 17.8 14.7 0.37
- Nippon Ind Multi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 270.7 39385 1.6 0.7 15.1 22.2 22.4 13.4 0.39 ★★★★ SBI Consumption Opport . . . . . . . . . . . . . . . . . . . . . .. . . . . . 305.5 3100 2.0 0.9 12.6 18.7 20.5 15.1 0.41 - ICICI Pru Nifty Next 50 Indx Fund . . . . . . . .. . . . . . . . 55.4 6894 0.7 0.3 13.9 15.3 17.2 12.4 0.07
- Quant Active . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 612.3 10285 1.7 0.6 -0.1 13.7 26.6 17.3 0.49 ★★★ Aditya Birla SL India GenNext . . . . . . . . . . . . . .. . . . . . 200.9 5858 1.9 0.8 13.0 14.0 16.6 14.1 0.34 - Nippon Ind ETF Junior BeES . . . . . . . . . . . . . . . .. . . . . . 677.7 5482 0.2 - 15.0 15.6 18.2 13.2 0.05
- Sundaram Multi Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 353.9 2772 2.0 0.9 10.2 13.5 19.5 13.7 0.38 ★★★ Tata India Consumer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 42.1 2475 2.0 0.7 16.6 17.8 18.4 - 0.42 - UTI Nifty Next 50 Indx Fund . . . . . . . . . . . . . . . . . .. . . . . . . . 22.4 4796 0.8 0.4 14.0 15.3 17.3 - 0.07
★★ ICICI Pru FMCG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 480.3 1761 2.2 1.3 5.1 13.9 13.7 11.6 0.31
EQUITY - MID CAP FUNDS PASSIVE FUNDS - TRACKING BANKING INDEX
★★ UTI India Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 54.7 706 2.5 1.5 15.9 12.2 14.5 10.1 0.32
★★★★★ Motilal Oswal Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 96.1 26421 1.6 0.7 29.7 28.2 27.6 17.9 0.51 ★ Sundaram Consumption. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 94.1 1584 2.2 1.3 17.0 18.1 16.3 13.7 0.32 - ICICI Pru Nifty Private Bank ETF . . . . . . . . . .. . . . . . . . 24.5 3095 0.2 - 4.0 8.6 7.6 - 0.05
★★★★★ PGIM India Midcap Opport. . . . . . . . . . . . . . . . . . . .. . . . . . . . 59.2 11285 1.7 0.5 11.7 10.6 24.8 14.5 0.50 - Baroda BNP Pari India Consumption. . . . . . . . 30.4 1470 2.1 0.7 16.6 16.5 18.0 - 0.39 - Nippon Ind ETF Nifty Bank BeES. . . . . . . . .. . . . . . 507.9 7335 0.2 - 7.9 9.4 10.0 9.8 0.05
★★★★★ Quant Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 213.9 8891 1.8 0.6 6.1 21.1 29.6 17.4 0.59 - Mahi Manu Consumption . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.4 440 2.4 0.6 11.6 16.0 15.0 - 0.32 - Nippon Ind ETF Nifty PSU Bank BeES. . . . . . . . 69.1 2667 0.5 - -3.6 28.8 21.6 4.6 0.06
★★★★ Edelweiss Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 92.2 8666 1.7 0.4 21.9 22.5 26.3 17.3 0.51 - Nippon Ind Consumption . . . . . . . . . . . . . . . . . . . . .. . . . . . 188.5 2161 2.0 0.6 13.9 18.9 21.9 13.0 0.48
PASSIVE FUNDS - TRACKING MIDCAP INDEX
★★★★ HDFC Mid-Cap Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 177.9 77967 1.4 0.8 14.8 24.4 25.9 16.9 0.50 EQUITY - THEMATIC - INFRASTRUCTURE FUNDS
★★★★ Kotak Emerging Equity . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 122.6 53079 1.4 0.4 21.2 19.4 23.1 16.9 0.45 - ICICI Pru Midcap Select ETF . . . . . . . . . . . . . . . . . .. . . . . . . . 16.6 81 0.2 - 15.7 16.9 19.5 - 0.68
★★★★ Nippon Ind Growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3765.4 35278 1.6 0.8 15.1 22.4 25.5 16.5 0.49 ★★★★★ Invesco India Infrastructure . . . . . . . . . . . . . . . . .. . . . . . . . 60.2 1606 2.1 0.7 15.2 24.1 26.4 15.6 0.51 - Motilal Oswal Nifty Midcap 100 ETF . . .. . . . . . . . 57.3 556 0.2 - 11.3 21.1 24.9 15.4 0.05
★★★ Axis Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 102.8 30829 1.6 0.5 19.0 14.9 19.9 15.1 0.45 ★★★★★ Quant Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.5 3536 1.9 0.7 1.7 19.6 32.8 17.3 0.53 - Nippon Ind ETF Nifty Midcap 150 . . . . . . .. . . . . . 203.1 1914 0.2 - 11.5 20.2 24.9 - 0.05
★★★ Baroda BNP Paribas Mid Cap . . . . . . . . . . . . . . .. . . . . . . . 95.3 2186 2.0 0.6 14.8 18.0 22.2 14.7 0.45 ★★★★ BOI AXA Manufacturing & Infra . . . . . . . . . . . .. . . . . . . . 52.5 537 2.3 0.7 14.0 21.7 27.0 15.4 0.55
★★★ ICICI Pru Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 267.6 6339 1.9 1.1 13.3 17.9 22.2 14.0 0.41 ★★★★ ICICI Pru Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 179.2 6911 1.9 1.2 15.3 28.9 29.0 15.2 0.49 PASSIVE FUNDS - TRACKING SMALLCAP INDEX
★★★ Invesco India Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 154.8 6150 1.8 0.6 22.7 20.8 23.8 16.4 0.49 ★★★★ Tata Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 164.2 2331 2.1 1.1 5.8 20.4 23.6 13.9 0.45
- ABSL Nifty Small 50 Indx . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.2 251 1.0 0.5 7.6 15.1 - - 0.09
★★★ SBI Magnum Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 226.0 21818 1.7 0.8 14.7 17.2 24.1 15.1 0.47 ★★★ Bandhan Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.1 1791 2.1 0.8 15.6 24.7 26.6 14.9 0.45
- Nippon Ind Nif Small250 Indx . . . . . . . . . . . . . .. . . . . . . . 30.6 2041 0.9 0.4 4.5 16.5 - - 0.08
★★★ Tata Mid Cap Growth. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 402.4 4529 1.9 0.7 11.4 18.3 21.6 14.9 0.44 ★★★ Canara Robeco Infrastructure . . . . . . . . . . . . .. . . . . . 146.0 872 2.3 1.0 19.6 23.6 25.9 14.3 0.49
★★★ Taurus Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 112.7 127 2.6 2.1 0.1 15.8 19.6 14.2 0.40 ★★★ DSP India T.I.G.E.R. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 291.3 5454 1.9 0.8 14.0 26.2 25.5 15.2 0.45 SMART BETA FUNDS
★★★ UTI Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 281.7 11997 1.8 0.9 10.9 14.6 21.5 13.7 0.44 ★★★ Franklin Build India . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 130.8 2784 2.0 1.0 13.0 25.7 25.6 16.1 0.45
★★ DSP Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 134.9 19297 1.7 0.8 13.5 14.1 17.2 14.1 0.37 ★★★ Kotak Infra & Economic Reform . . . . . . . . . .. . . . . . . . 62.3 2430 2.0 0.6 15.0 24.2 24.2 14.7 0.44 - ICICI Pru Nifty 100 Low Vol 30 ETF . . . . . .. . . . . . . . 21.1 3444 0.4 - 11.9 15.0 18.1 - 0.03
★★ Franklin Ind Prima . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2560.7 12570 1.8 1.0 19.2 20.1 20.9 14.4 0.41 ★★★ LIC MF Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 46.1 927 2.2 0.6 24.2 26.9 24.7 13.9 0.45 - ICICI Pru Alpha Low Vol 30 ETF . . . . . . . . . . . .. . . . . . . . 26.9 1691 0.4 - 8.2 16.3 - - 0.04
★★ HSBC Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 352.1 12416 1.7 0.7 16.5 20.1 20.3 15.2 0.40 ★★★ SBI Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.9 4999 1.9 0.9 10.3 23.8 24.4 15.3 0.45 - Nippon Ind ETF Nifty 50 Value 20 . . . . . . . .. . . . . . 151.8 222 0.3 - 11.8 14.9 21.4 - 0.04
★★ Sundaram Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1270.6 12619 1.7 0.9 18.2 21.9 21.2 14.3 0.39 ★★ Aditya Birla SL Infrastructure . . . . . . . . . . . . . . .. . . . . . . . 88.0 1162 2.3 1.4 9.7 21.0 23.1 12.4 0.40 - SBI Nifty 200 Quality 30 ETF. . . . . . . . . . . . . . . . . .. . . . . . 219.6 130 0.5 - 12.4 13.5 17.0 - 0.04
★ Aditya Birla SL Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 719.0 5911 1.9 1.1 12.6 15.0 20.0 13.1 0.38 ★★ HSBC Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.4 2511 2.0 1.0 12.9 22.3 22.6 15.3 0.40 - UTI Nif200 Momentum 30 Indx Fund .. . . . . . . . 20.0 8291 0.9 0.4 2.4 14.5 - - 0.08
★ LIC MF Midcap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.5 327 2.5 1.3 18.7 17.0 20.0 - 0.39 ★★ Sundaram Infra Advantage. . . . . . . . . . . . . . . . . . .. . . . . . . . 86.9 975 2.4 1.8 11.1 18.5 21.6 12.9 0.38
- Mahi Manu Mid Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.8 3529 1.9 0.5 13.0 20.6 24.5 - 0.50
PASSIVE FUNDS - GOLD ETF AND SILVER ETF
★ HDFC Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.0 2465 2.1 1.1 10.5 27.8 23.7 10.0 0.38
★ UTI Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 132.7 2202 2.2 1.8 9.0 19.1 18.9 11.4 0.34
EQUITY - SMALL CAP FUNDS - HDFC Gold ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 71.0 6529 0.6 - 29.8 18.6 14.0 10.4 -
- Taurus Infrastructure. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 63.4 10 2.5 2.0 6.3 18.0 19.9 13.0 0.40
- ICICI Pru Silver ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 94.2 3963 0.4 - 28.9 14.3 - - -
★★★★★ Nippon Ind Small Cap. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 158.4 61974 1.4 0.7 10.4 22.4 30.9 20.2 0.54 EQUITY - THEMATIC - MNC FUNDS - Nippon Ind ETF Gold BeES . . . . . . . . . . . . . . . . . . . .. . . . . . . . 68.9 15190 0.8 - 29.6 18.2 13.8 10.3 -
★★★★★ Quant Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 240.7 26670 1.6 0.7 2.2 20.9 40.1 19.2 0.69 - Nippon Ind Silver ETF . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 90.9 5313 0.6 - 30.3 - - - -
★★★★ AXIS Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 98.9 24758 1.6 0.6 11.0 16.9 23.2 17.8 0.47 - Aditya Birla SL MNC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1258.3 3796 2.0 1.4 8.3 9.5 9.6 8.7 0.22 - SBI Gold ETF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 71.0 5970 0.7 - 29.7 18.5 13.9 10.3 -
★★★★ Kotak Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 251.6 17778 1.6 0.5 12.5 15.4 25.8 17.2 0.48 - SBI Magnum Global . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 356.2 6642 1.9 1.2 2.8 8.5 14.6 10.4 0.35
★★★ DSP Small Cap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 180.3 16634 1.7 0.8 9.4 16.9 25.7 16.9 0.48 - UTI MNC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 372.0 2937 2.0 1.2 10.3 11.2 13.3 10.0 0.32 Source : ACE MF. NAV for the growth option as on 01-02-2025. Returns for regular plans considered.

CM
YK ... . . . . . . ND-NDE
 Star Track MF Ratings . bl . 13
DELHI

businessline.portfolio
MONDAY - FEBRUARY 3 - 2025

bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA
NAV Corpus NAV Corpus 3 Year 5 Year & Below NAV Corpus 3 Year 5 Year & Below
Regular Direct 1 Month 3 Month 6 Month 1 Year & Below Regular Direct 1 Year 2 Year Regular Direct 1 Year 2 Year
(₹) (₹ Cr) Absolute Absolute Absolute CAGR (₹) (₹ Cr) CAGR CAGR CAGR CAGR (₹) (₹ Cr) CAGR CAGR CAGR CAGR

★★★ Bandhan Bond - Short Term. . . . . . . . . . . . . . . . .. . . . . . . . 55.0 9728 0.8 0.3 7.9 7.5 6.0 6.1 - ★★★ HSBC Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.8 582 1.7 0.9 7.2 6.9 5.8 5.4 60.44
★★★ DSP Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 44.9 2758 1.0 0.3 7.7 7.2 5.9 5.8 - ★★★ Invesco India Credit Risk . . . . . . . . . . . . . . . . . . . . . . .. . . 1827.3 141 1.5 0.3 7.3 9.5 7.1 6.3 53.82
CASH FUNDS ★★★ Kotak Bond Short Term . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.2 16790 1.1 0.4 7.8 7.3 5.9 6.0 - ★★★ Nippon Ind Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.6 981 1.5 0.7 8.3 8.2 6.8 5.4 61.63
★★★ Nippon Ind Short Term. . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 50.8 7469 0.9 0.4 8.0 7.5 6.1 6.3 9.62 ★★★ SBI Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.9 2278 1.6 0.9 8.2 8.3 7.0 7.0 73.77
LIQUID FUNDS ★★★ SBI Short Term Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.9 13350 0.9 0.4 7.8 7.3 6.1 6.0 5.18 ★★ Bandhan Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.9 292 1.7 0.7 7.3 6.6 5.6 5.5 58.30
★★★ Tata Short Term Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 46.2 2736 1.2 0.4 7.4 7.1 5.8 5.8 - ★★ Bank of India Credit Risk . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 11.9 114 1.4 1.0 6.0 5.8 37.2 10.4 58.60
- 360 ONE Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1956.8 846 0.3 0.2 6.8 6.8 6.9 7.2 - ★★ Baroda BNP Paribas Short Duration .. . . . . . . . 28.1 198 1.1 0.4 7.7 7.5 6.0 5.7 2.52 ★ Kotak Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.3 734 1.7 0.8 6.9 7.1 5.0 5.2 56.74
- Aditya Birla SL Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 409.0 39883 0.3 0.2 6.8 6.9 7.0 7.3 - ★★ HSBC Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.5 3689 0.8 0.3 7.5 7.2 5.7 5.9 - ★ UTI Credit Risk. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 16.5 308 1.7 1.1 7.9 7.3 6.2 3.4 56.14
- Axis Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2826.2 30917 0.2 0.1 6.9 7.0 7.1 7.4 - ★★ Invesco India Short Duration . . . . . . . . . . . . . . .. . . 3434.6 482 1.1 0.4 8.0 7.2 5.7 5.7 1.04 DEBT - BANKING AND PSU FUNDS
- Bandhan Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3068.1 13835 0.3 0.1 6.7 6.9 7.0 7.3 - ★★ Mirae Asset Short Duration . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.2 346 1.1 0.3 7.6 7.1 5.8 5.7 2.89
- Bank of India Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2923.2 1315 0.1 0.1 6.8 7.0 7.1 7.4 - ★ Canara Robeco Short Duration . . . . . . . . . . .. . . . . . . . 24.5 343 1.0 0.4 7.2 6.8 5.6 5.6 - ★★★★★ Aditya Birla SL Bank & PSU Debt . . . . . . . . .. . . . . . 353.2 9483 0.7 0.4 7.9 7.5 6.3 6.5 -
- Baroda BNP Paribas Liquid . . . . . . . . . . . . . . . . . .. . . 2920.3 8842 0.3 0.2 6.7 6.9 7.0 7.3 - ★ LIC MF Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.1 113 1.3 0.4 7.4 6.9 5.4 5.2 - ★★★★★ ICICI Pru Banking & PSU Debt . . . . . . . . . . . . . .. . . . . . . . 31.5 9860 0.7 0.4 7.9 7.7 6.7 6.6 -
- Canara Robeco Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3055.3 3197 0.2 0.1 6.8 6.9 7.0 7.3 - - Bank of India Short Term Income . . . . . . .. . . . . . . . 25.9 85 1.0 0.5 9.1 7.6 13.8 8.4 - ★★★★ DSP Banking & PSU Debt . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.2 2906 0.7 0.3 8.4 7.8 6.3 6.4 -
- DSP Liquidity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3624.1 17017 0.2 0.1 6.9 7.0 7.1 7.3 - - Franklin Ind Short Term Income . . . . . . . . .. . . 5149.4 13 0.0 0.0 0.0 2.9 5.0 5.5 - ★★★★ HDFC Banking and PSU Debt . . . . . . . . . . . . . . .. . . . . . . . 22.2 5904 0.8 0.4 7.8 7.4 6.2 6.4 -
- Edelweiss Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3245.9 5489 0.2 0.1 6.9 6.9 7.0 7.3 - - Groww Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2004.4 60 1.6 0.4 6.7 6.1 5.0 4.6 - ★★★★ Kotak Banking and PSU Debt . . . . . . . . . . . . . .. . . . . . . . 63.0 5797 0.8 0.4 8.0 7.6 6.3 6.5 -
- Groww Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2453.6 138 0.2 0.1 6.9 6.9 7.0 7.3 - - Mahi Manu Short Duration. . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.3 71 1.3 0.3 7.5 7.2 5.8 - 2.12 ★★★ Axis Banking & PSU Debt . . . . . . . . . . . . . . . . . . . . . . .. . . 2537.7 12916 0.6 0.3 7.6 7.1 6.1 6.1 -
- HDFC Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4981.1 68648 0.3 0.2 6.7 6.9 7.0 7.3 - ★★★ Bandhan Banking & PSU Debt . . . . . . . . . . . . .. . . . . . . . 23.7 13369 0.6 0.3 7.6 7.2 6.1 6.4 -
- HSBC Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2531.3 16220 0.2 0.1 6.8 6.9 7.0 7.3 - DEBT - MEDIUM DURATION FUNDS ★★★ Edelweiss Banking and PSU Debt . . . . . .. . . . . . . . 23.7 269 0.7 0.4 8.1 7.4 6.2 6.9 -
- ICICI Pru Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 375.9 49653 0.3 0.2 6.8 6.9 7.0 7.3 - ★★★ Franklin Ind Banking & PSU Debt . . . . . . .. . . . . . . . 21.6 572 0.5 0.2 7.6 7.3 6.0 6.0 5.68
★★★★★ Aditya Birla SL Medium Term . . . . . . . . . . . . . . .. . . . . . . . 37.5 2004 1.6 0.9 10.6 8.9 14.0 11.4 24.99
- Invesco India Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3489.5 11745 0.2 0.2 6.8 6.9 7.1 7.3 - ★★★ LIC MF Banking & PSU . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.5 1773 0.8 0.3 7.8 7.3 5.9 5.6 -
★★★★ Axis Strategic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.9 1986 1.2 0.5 8.6 8.1 6.7 7.0 33.67
- ITI Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1323.5 49 0.3 0.1 6.6 6.7 6.8 6.9 - ★★★ Nippon Ind Banking & PSU Debt . . . . . . . . .. . . . . . . . 20.0 5706 0.8 0.4 7.9 7.4 6.1 6.4 -
★★★★ ICICI Pru Medium Term Bond . . . . . . . . . . . . . . .. . . . . . . . 43.1 5694 1.4 0.7 8.2 7.7 6.7 7.0 35.82
- JM Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 69.3 2941 0.3 0.2 6.8 6.8 6.9 7.2 - ★★ Invesco India Banking and PSU . . . . . . . . . .. . . 2183.4 100 0.6 0.3 8.2 7.5 5.5 5.6 -
★★★ HDFC Medium Term Debt . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 54.2 3953 1.3 0.7 8.0 7.5 6.1 6.5 19.58
- Kotak Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 5131.3 33497 0.3 0.2 6.7 6.8 7.0 7.3 - ★★ SBI Banking and PSU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2998.4 3719 0.8 0.4 7.7 7.2 5.8 5.9 7.43
★★★ HSBC Medium Duration . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 19.6 780 1.1 0.4 8.2 7.7 6.1 6.3 14.06
- LIC MF Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4591.7 9444 0.3 0.2 6.7 6.9 7.0 7.3 - ★★ Sundaram Banking & PSU. . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.4 336 0.4 0.3 8.0 7.5 6.1 5.6 -
★★★ Kotak Medium Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.9 1816 1.6 0.7 8.6 7.9 6.3 6.2 28.67
- Mahi Manu Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1652.4 1158 0.3 0.2 6.8 7.0 7.0 7.3 - ★ HSBC Banking and PSU Debt . . . . . . . . . . . . . . .. . . . . . . . 23.3 4086 0.6 0.2 7.2 6.9 5.2 5.6 -
★★★ SBI Magnum Medium Duration . . . . . . . . . . .. . . . . . . . 49.3 6567 1.2 0.7 8.1 7.8 6.4 6.9 32.44
- Mirae Asset Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2662.1 11206 0.2 0.1 6.9 6.9 7.0 7.3 - ★ UTI Banking & PSU. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.1 810 0.5 0.4 7.5 7.2 8.3 7.2 -
★★ DSP Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 78.4 375 0.8 0.4 7.8 7.5 6.1 6.2 -
- Motilal Oswal Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.5 896 0.4 0.2 6.4 6.5 6.6 6.9 - - Baroda BNP Pari Banking and PSU . . . . . . . . . . . 12.2 26 0.8 0.4 7.9 7.2 5.5 - -
★★ Nippon Ind Strategic Debt . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.9 114 1.1 0.5 8.4 7.9 6.0 1.2 39.40
- Motilal Oswal Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 10.0 896 - 0.2 0.0 0.0 0.0 0.0 - - ITI Banking & PSU Debt . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.6 31 0.7 0.2 7.4 7.0 6.2 - -
★ Bandhan Bond - Medium Term . . . . . . . . . . .. . . . . . . . 44.1 1475 1.3 0.6 7.6 7.1 5.3 5.6 -
- Motilal Oswal Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.0 896 - 0.2 6.6 6.7 6.8 7.1 - - Mirae Asset Banking and PSU . . . . . . . . . . . . . .. . . . . . . . 12.5 51 0.8 0.4 8.0 7.3 5.8 - -
- Sundaram Medium Duration . . . . . . . . . . . . . . .. . . . . . . . 66.9 45 2.2 1.3 6.3 5.9 4.3 4.0 -
- Navi Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.7 73 0.2 0.2 6.6 6.8 6.8 6.9 - - TRUSTMF Banking & PSU . . . . . . . . . . . . . . . . . . . . . .. . . 1223.4 191 0.7 0.2 7.5 7.1 5.5 - -
- UTI Medium Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.7 40 1.5 0.8 7.7 7.2 5.7 4.7 21.01
- Nippon Ind Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 6196.0 26986 0.3 0.2 6.7 6.9 7.0 7.3 -
- Parag Parikh Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1410.5 2230 0.3 0.2 6.6 6.6 6.7 6.9 -
DEBT - GILT FUND WITH 10 YEAR CONSTANT DURATION
DEBT - MEDIUM TO LONG DURATION FUNDS
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

f1ccf833-44c4-4575-b5cd-33fe76bd21c0
- PGIM India Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 330.4 437 0.2 0.1 7.0 7.0 7.0 7.3 -
- Bandhan G-Secs - Constant Maturity. . . . . . . . 43.9 360 0.4 0.2 9.6 8.8 6.5 6.5 -
- Quant Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.2 1756 0.5 0.3 7.0 6.9 6.9 7.1 - ★★★★★ UTI Medium to Long Duration . . . . . . . . . . . . .. . . . . . . . 70.8 313 1.6 1.2 8.3 7.6 8.5 8.1 4.80
- DSP 10Y G-Sec . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.0 57 0.5 0.3 9.2 8.6 6.2 5.8 -
- Quantum Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 34.1 524 0.3 0.2 6.5 6.6 6.7 7.0 - ★★★★ ICICI Pru Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.7 3085 1.0 0.6 8.6 8.3 6.9 6.7 -
- ICICI Pru Constant Maturity Gilt . . . . . . . . . .. . . . . . . . 23.7 2475 0.4 0.2 9.3 8.7 6.6 6.9 -
- SBI Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3968.8 60844 0.3 0.2 6.8 6.8 6.9 7.2 - ★★★★ SBI Magnum Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 68.2 1855 1.5 0.8 8.1 7.8 6.4 6.6 18.81
- SBI Magnum Constant Maturity . . . . . . . . . .. . . . . . . . 61.3 1771 0.6 0.3 9.2 8.6 6.5 6.4 -
- Sundaram Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2240.0 5946 0.3 0.1 6.7 6.9 7.0 7.3 - ★★★ Aditya Birla SL Income . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 121.4 2185 1.2 0.7 8.2 7.6 6.0 6.8 -
- Tata Liquid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3997.5 23173 0.3 0.2 6.9 6.9 7.0 7.3 - ★★★ Kotak Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 74.2 2066 1.7 0.7 8.0 7.6 5.8 6.3 - DEBT - GILT FUNDS
- Union Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2443.0 3743 0.2 0.1 6.8 7.0 7.0 7.3 - ★★★ LIC MF Medium to Long Duration . . . . . . .. . . . . . . . 69.7 181 1.2 0.2 9.0 7.9 6.3 5.7 -
- UTI Liquid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4163.8 23764 0.2 0.2 6.9 6.9 7.0 7.3 - ★★★ Nippon Ind Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.8 400 1.5 0.7 8.0 7.7 6.3 6.1 - ★★★★★ ICICI Pru Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 98.8 6811 1.1 0.6 8.2 8.4 7.3 7.3 -

- WhiteOak Capital Liquid. . . . . . . . . . . . . . . . . . . . . . . .. . . 1366.2 306 0.3 0.2 6.7 6.9 6.9 7.2 - ★★ Canara Robeco Income . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 53.8 121 1.9 0.7 7.4 6.7 5.2 5.3 - ★★★★★ SBI Magnum Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 63.9 11265 0.9 0.5 8.6 8.3 7.1 7.1 -
★★ HDFC Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 56.2 863 1.4 0.8 8.7 7.8 5.8 5.5 - ★★★★ Axis Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.7 934 0.8 0.4 9.6 8.6 6.6 6.9 -
ARBITRAGE FUNDS ★ Bandhan Bond - Income . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 63.0 484 2.0 1.3 7.4 6.9 5.0 5.4 - ★★★★ DSP Gilt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 92.8 1782 1.2 0.6 9.1 8.7 6.8 7.2 -
- HSBC Medium to Long Duration . . . . . . . . .. . . . . . . . 40.7 49 1.9 0.7 7.5 6.8 4.9 4.9 - ★★★★ Edelweiss G-Secs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.8 173 1.2 0.5 8.9 8.1 6.4 7.3 -
- Aditya Birla SL Arbitrage . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.8 14115 1.0 0.3 7.3 6.9 6.9 7.3 -
- JM Medium to Long Duration. . . . . . . . . . . . . . .. . . . . . . . 59.8 27 1.1 0.6 8.1 7.5 5.4 5.5 - ★★★★ UTI Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 60.8 647 0.9 0.7 8.7 7.9 6.5 6.3 -
- Axis Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.2 5913 1.0 0.3 7.3 6.9 6.8 7.3 -
★★★ Aditya Birla SL G-Secs . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 78.8 2045 1.1 0.5 8.4 8.1 6.1 6.6 -
- Bandhan Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.6 7724 1.1 0.4 7.9 7.1 7.0 7.3 - DEBT - LONG DURATION FUNDS ★★★ Bandhan G-Secs - Investment . . . . . . . . . . . . .. . . . . . . . 34.3 3841 1.1 0.5 9.0 8.6 6.3 6.8 -
- Bank of India Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.5 40 0.9 0.2 7.1 6.7 6.7 6.8 -
★★★ HDFC Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 53.6 2882 0.9 0.5 8.7 8.1 6.2 6.1 -
- Baroda BNP Paribas Arbitrage . . . . . . . . . . . .. . . . . . . . 15.6 1358 1.2 0.4 6.8 6.5 6.6 7.1 0.30 - ICICI Pru Long Term Bond . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.8 1034 1.0 0.4 9.8 8.7 6.7 5.9 -
★★★ Kotak Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 93.7 4442 1.5 0.5 8.0 7.9 6.2 6.6 -
- DSP Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.6 6132 1.0 0.4 7.5 7.1 7.0 7.2 - - Nippon Ind Nivesh Lakshya . . . . . . . . . . . . . . . . . .. . . . . . . . 17.3 9411 0.6 0.3 9.8 9.2 7.7 7.0 -
★★★ Nippon Ind Gilt Securities . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.9 2140 1.3 0.5 8.6 8.0 6.2 6.2 -
- Edelweiss Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.9 12136 1.1 0.4 7.9 7.3 7.1 7.5 -
DEBT - DYNAMIC BOND FUNDS ★★★ PGIM India Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.3 115 1.5 0.5 8.5 7.8 6.0 5.9 -
- HDFC Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.8 16867 1.0 0.4 7.5 7.1 7.1 7.4 -
★★ Baroda BNP Paribas Gilt . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.1 1665 0.5 0.1 9.6 8.6 6.5 6.1 -
- HSBC Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.5 2423 0.9 0.3 7.6 6.9 6.7 7.1 - ★★★★★ Aditya Birla SL Dynamic Bond . . . . . . . . . . . . .. . . . . . . . 44.6 1717 1.2 0.6 8.8 8.0 7.4 7.2 2.50 ★★ Canara Robeco Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 73.3 139 1.3 0.5 8.2 7.7 6.1 5.9 -
- ICICI Pru Equity-Arbitrage . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.4 24369 0.9 0.4 7.7 7.1 7.1 7.4 - ★★★★ 360 ONE Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 21.7 737 0.5 0.3 9.3 8.4 6.8 6.7 - ★★ Invesco India Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2749.7 1504 1.3 0.5 8.8 8.3 6.6 5.6 -
- Invesco India Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.1 18910 1.1 0.4 7.8 7.1 7.1 7.4 - ★★★★ DSP Strategic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3264.2 1893 1.2 0.5 9.2 8.9 6.6 6.8 - ★★ Tata Gilt Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 75.4 1080 1.4 0.3 7.6 8.0 6.4 5.7 -
- ITI Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.6 39 0.9 0.2 8.4 7.1 6.8 7.2 - ★★★★ ICICI Pru All Seasons Bond . . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.6 13407 1.3 0.6 8.2 8.0 7.1 7.3 18.48 ★ Franklin Ind G-Secs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 56.8 152 1.1 0.6 7.5 6.5 5.3 5.2 -
- JM Arbitrage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.8 195 1.1 0.4 7.1 6.6 6.6 6.9 - ★★★★ SBI Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 34.5 3324 1.5 0.6 8.3 7.9 6.8 6.4 - ★ HSBC Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 64.2 263 1.7 0.5 8.0 7.0 5.6 5.5 -
- Kotak Equity Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.5 54913 1.0 0.4 7.8 7.3 7.1 7.6 - ★★★ Baroda BNP Paribas Dynamic Bond . .. . . . . . . . 44.3 177 1.7 0.7 8.3 7.7 6.6 5.8 - - LIC MF Gilt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.9 101 1.5 1.7 8.0 7.5 5.6 5.8 -
- LIC MF Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.5 310 1.0 0.3 7.8 7.0 6.7 7.0 - ★★★ HDFC Dynamic Debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 86.8 793 1.5 0.8 8.4 7.8 5.9 6.7 -
- Mahi Manu Arbitrage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.1 110 1.2 0.4 5.9 5.9 5.6 5.9 - ★★★ HSBC Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.6 159 0.8 0.2 8.7 7.8 6.2 5.9 - DEBT - FLOATER FUNDS
- Mirae Asset Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.7 2931 0.9 0.2 8.0 7.0 6.9 7.3 - ★★★ Kotak Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 36.2 3023 1.3 0.6 8.7 8.2 6.3 6.6 -
- Nippon Ind Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.9 14739 1.1 0.4 7.2 6.9 6.8 7.2 - ★★★★★ HDFC Floating Rate Debt . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.1 14929 0.5 0.3 8.3 8.1 6.9 6.7 5.65
★★★ PGIM India Dynamic Bond . . . . . . . . . . . . . . . . . . . .. . . 2542.6 108 1.6 0.4 8.5 7.6 5.9 5.7 -
- PGIM India Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 17.9 87 1.1 0.4 6.7 6.6 6.5 6.8 - ★★★★ Aditya Birla SL Floating Rate . . . . . . . . . . . . . . . .. . . . . . 335.6 13287 0.4 0.2 7.9 7.7 6.8 6.4 -
★★★ UTI Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.9 507 1.5 0.7 8.4 7.5 8.5 8.8 -
- SBI Arbitrage Opport . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 32.9 31141 1.0 0.4 7.8 7.1 7.0 7.4 - ★★★ ICICI Pru Floating Interest . . . . . . . . . . . . . . . . . . . . .. . . . . . 409.3 7777 1.2 0.6 8.0 8.0 6.7 6.6 14.04
★★ Axis Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.5 1412 0.6 0.3 8.5 7.6 6.1 6.6 -
- Sundaram Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.1 234 1.0 0.3 7.7 7.0 6.7 7.0 - ★★★ Kotak Floating Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1453.0 3578 0.6 0.3 8.2 7.8 6.4 6.8 0.70
★★ Bandhan Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.0 3076 1.6 0.7 8.5 8.0 5.9 6.3 -
- Tata Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.0 12675 1.1 0.3 7.5 7.0 6.9 7.3 - ★★★ Nippon Ind Floating Rate . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 43.5 7581 0.6 0.3 8.2 7.8 6.5 6.8 -
★★ Canara Robeco Dynamic Bond . . . . . . . . . . .. . . . . . . . 28.5 125 1.8 0.7 7.3 6.8 5.5 5.3 -
- Union Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.7 223 1.0 0.4 7.7 6.9 7.0 7.4 - ★★ Franklin Ind Floating Rate . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.2 291 1.0 0.2 8.1 7.8 6.6 5.7 5.59
★★ Nippon Ind Dynamic Bond . . . . . . . . . . . . . . . . . . .. . . . . . . . 35.8 4234 0.7 0.3 9.1 8.0 6.4 6.5 -
- UTI Arbitrage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 34.1 6695 0.7 0.3 7.6 7.3 7.1 7.5 - ★ UTI Floater . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1446.9 1409 0.8 0.4 7.0 7.0 5.9 5.7 -
★ Mirae Asset Dynamic Bond . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.6 119 1.0 0.2 7.1 6.6 5.0 5.3 -
- Bandhan Floating Rate . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.4 286 0.8 0.3 8.0 7.5 6.3 - 24.59
★ Union Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 22.6 79 1.5 1.2 8.2 7.6 5.5 5.6 -
- DSP Floater . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.7 618 0.5 0.2 9.1 8.6 6.8 - -
bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) AA - Aditya Birla SL Dynamic Bond . . . . . . . . . . . . .. . . . . . . . 30.8 1717 - 0.6 8.8 8.0 7.4 7.2 2.50
NAV Corpus
Regular Direct 1 Year 2 Year 3 Year 5 Year & Below - SBI Floating Rate Debt . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 12.8 1294 0.4 0.3 8.1 7.9 6.7 - -
(₹) (₹ Cr) CAGR CAGR CAGR CAGR (%) - Groww Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1422.3 57 1.5 0.5 6.6 6.1 5.2 5.1 -
- JM Dynamic Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.0 44 1.0 0.5 8.2 7.4 6.3 5.8 -
bl. rating Scheme Name Latest Latest Expense Ratio (%) Trailing Returns (%) Sortino
- Mahi Manu Dynamic Bond . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.8 80 1.6 0.4 8.0 7.2 5.3 4.6 6.30
DEBT FUNDS - Quantum Dynamic Bond. . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.7 132 1.0 0.5 8.7 8.2 7.1 6.6 -
NAV
(₹)
Corpus
(₹ Cr)
Regular Direct 1 Year 3 Year
CAGR CAGR
5 Year 10 Year Ratio
CAGR CAGR (%)

DEBT - CORPORATE BOND FUNDS

DEBT - ULTRA SHORT DURATION FUNDS
★★★★★ ICICI Pru Corporate Bond . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 28.7 29118 0.6 0.4 8.0 7.9 6.9 6.9 -
SOLUTION ORIENTED FUNDS
★★★★★ Nippon Ind Ultra Short Duration . . . . . . . .. . . 3906.7 7695 1.1 0.4 7.2 7.0 6.2 6.2 7.33
★★★★★ Nippon Ind Corporate Bond . . . . . . . . . . . . . . . . .. . . . . . . . 57.6 6566 0.7 0.4 8.4 7.8 6.7 6.7 -
★★★★★ UTI Ultra Short Duration . . . . . . . . . . . . . . . . . . . . . . . .. . . 4112.8 3047 0.9 0.3 7.1 7.0 6.1 5.9 4.16 SOLUTION ORIENTED - CHILDREN'S FUNDS
★★★★ Aditya Birla SL Corporate Bond. . . . . . . . . . .. . . . . . 108.8 24979 0.5 0.3 8.6 8.0 6.8 7.1 -
★★★★ Aditya Birla SL Savings . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 530.2 16349 0.6 0.3 7.8 7.5 6.7 6.1 11.52
★★★★ Axis Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 16.4 6048 0.9 0.3 8.1 7.5 6.3 6.7 -
★★★★ Baroda BNP Pari Ultra Short Dur . . . . . . . .. . . 1494.2 1119 0.5 0.3 7.4 7.4 6.6 5.7 1.61 - Axis Children's . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 24.6 892 2.3 1.3 12.5 6.3 11.2 - 0.25
★★★★ HDFC Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 31.3 32374 0.6 0.4 8.6 8.0 6.5 6.9 -
★★★★ HDFC Ultra Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.7 14105 0.7 0.4 7.4 7.2 6.4 5.8 0.53 - HDFC Children's. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 280.8 9944 1.7 0.9 9.6 15.0 17.4 12.8 0.41
★★★ Bandhan Corporate Bond . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 18.5 13822 0.7 0.3 7.7 7.3 5.8 6.4 -
★★★★ ICICI Pru Ultra Short Term . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 26.8 13502 0.8 0.4 7.4 7.2 6.4 5.9 5.61 - ICICI Pru Child Care (Gift Plan). . . . . . . . . . . . .. . . . . . 300.6 1305 2.2 1.5 11.4 15.2 15.4 11.1 0.34
★★★ Franklin Ind Corporate Debt. . . . . . . . . . . . . . . . .. . . . . . . . 94.6 750 0.8 0.2 7.4 7.0 5.8 5.8 5.67
★★★ Axis Ultra Short Duration . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.3 5996 1.2 0.4 7.0 6.8 6.0 5.2 3.35 - LIC MF Children’s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 33.1 17 2.5 1.7 13.4 11.5 12.3 8.4 0.28
★★★ Invesco India Corporate Bond . . . . . . . . . . . . .. . . 3057.1 5671 0.7 0.3 8.1 7.5 6.0 6.1 -
★★★ Bandhan Ultra Short Term . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.8 3980 0.5 0.3 7.4 7.2 6.4 5.6 - - SBI Mag Children's Benefit - Sav . . . . . . . . .. . . . . . 105.6 123 1.2 0.8 13.8 11.3 13.0 11.2 0.66
★★★ Kotak Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3628.9 14150 0.7 0.3 8.3 7.7 6.4 6.4 -
★★★ Invesco India Ultra Short Duration . . . .. . . 2615.0 1424 0.8 0.2 7.5 7.1 6.2 5.3 2.60 - Tata Young Citizens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 58.4 362 2.6 1.9 6.8 12.4 17.3 10.9 0.36
★★★ SBI Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.9 20415 0.8 0.3 7.9 7.4 6.1 6.2 -
★★★ Kotak Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 41.6 13955 0.8 0.4 7.2 7.0 6.2 5.5 2.51 - UTI Children's Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 79.5 1107 2.3 1.2 9.5 9.3 15.0 11.2 0.29
★★★ Sundaram Corporate Bond . . . . . . . . . . . . . . . . . .. . . . . . . . 38.7 712 0.6 0.3 8.0 7.2 6.1 6.4 -
★★★ PGIM India Ultra Short Duration . . . . . . . . .. . . . . . . . 33.1 231 0.9 0.3 6.8 6.7 6.0 5.3 - - UTI Children's Hybrid . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 38.4 4526 1.7 1.5 9.0 8.0 10.3 8.2 0.31
★★★ UTI Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.8 4696 0.6 0.3 7.9 7.5 6.2 6.4 -
★★★ SBI Magnum Ultra Short Duration. . . . . .. . . 5789.3 12178 0.5 0.3 7.4 7.2 6.4 5.6 - SOLUTION ORIENTED - RETIREMENT FUNDS
★★ Canara Robeco Corporate Bond . . . . . . . . .. . . . . . . . 21.0 133 1.0 0.4 7.4 6.8 5.6 5.7 -
★★★ WhiteOak Capital Ultra Short Dur . . . . . .. . . 1322.4 323 1.0 0.5 6.8 6.7 5.8 5.0 -
★★ HSBC Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 70.3 5703 0.6 0.3 8.0 7.4 6.0 6.6 -
★★ BOI Ultra Short Duration . . . . . . . . . . . . . . . . . . . . . . .. . . 3070.0 168 0.9 0.3 6.7 6.5 5.8 5.1 - - Franklin Ind Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 208.7 517 2.3 1.5 9.5 9.2 9.1 7.8 0.32
★★ Union Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.7 258 0.7 0.4 8.0 7.3 5.7 6.0 -
★★ Canara Robeco Ultra Short Term . . . . . . . .. . . 3686.6 583 1.0 0.4 6.8 6.6 5.8 4.8 - - HDFC Retirement Savings - Equity . . . . .. . . . . . . . 47.4 6049 1.8 0.8 10.5 18.0 22.1 - 0.46
★ Baroda BNP Pari Corporate Bond . . . . . .. . . . . . . . 26.4 214 0.6 0.2 8.5 7.9 5.9 5.7 -
★★ DSP Ultra Short . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 3300.3 2961 1.0 0.3 6.9 6.8 6.0 5.1 0.87 - HDFC Retire Savings-Hybrid-Debt . . . . .. . . . . . . . 20.8 160 2.1 1.0 7.8 8.2 8.4 - 0.50
★ DSP Corporate Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 15.4 2576 0.5 0.3 7.7 7.3 5.6 5.7 -
★★ Tata Ultra Short Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 13.8 3961 1.2 0.3 7.0 6.8 5.9 5.1 4.93 - HDFC Retire Savings Hybrid Eq . . . . . . . . . . .. . . . . . . . 36.5 1581 2.1 0.9 8.7 13.6 15.9 - 0.39
- Mirae Asset Corporate Bond. . . . . . . . . . . . . . . . .. . . . . . . . 12.3 42 0.6 0.2 8.0 7.3 5.8 - -
★ Motilal Oswal Ultra Short Term . . . . . . . . . . .. . . . . . . . 16.1 492 1.1 0.5 6.0 5.9 5.2 4.4 - - LIC MF Unit Linked Insurance. . . . . . . . . . . . . . .. . . . . . . . 35.0 490 2.4 1.3 10.5 9.0 11.5 8.8 0.24
- PGIM India Corporate Bond. . . . . . . . . . . . . . . . . .. . . . . . . . 41.5 95 1.0 0.3 7.6 7.1 5.8 6.1 -
★ Sundaram Ultra Short Duration . . . . . . . . . .. . . 2612.2 2091 1.5 0.2 6.4 6.3 5.5 4.6 - - Nippon Ind Retire-Income Gene . . . . . . . . .. . . . . . . . 19.5 156 2.1 1.0 9.2 7.9 7.6 - 0.41
- Aditya Birla SL Savings . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 305.1 16349 0.3 0.3 7.6 7.5 6.5 6.1 11.52 DEBT - CREDIT RISK FUNDS - Nippon Ind Retire-Wealth Cre. . . . . . . . . . . . . .. . . . . . . . 27.0 3286 1.9 1.0 12.1 15.3 15.2 - 0.26
- HSBC Ultra Short Duration . . . . . . . . . . . . . . . . . . .. . . 1311.6 2625 0.5 0.2 7.4 7.2 6.4 5.6 - - Tata Retirement Savings Con. . . . . . . . . . . . . . .. . . . . . . . 30.4 174 2.2 1.0 7.6 7.0 7.6 7.6 0.34
★★★★★ Baroda BNP Paribas Credit Risk. . . . . . . . . .. . . . . . . . 21.4 169 1.6 0.8 8.2 7.9 6.8 8.2 55.52
- LIC MF Ultra Short Duration . . . . . . . . . . . . . . . . . .. . . 1283.4 215 1.0 0.3 6.9 6.4 5.8 4.9 - - Tata Retirement Savings Moderate . . .. . . . . . . . 60.7 2182 2.0 0.6 13.3 12.5 13.7 11.7 0.32
★★★★★ DSP Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 42.2 189 1.2 0.4 7.8 11.7 11.0 7.9 70.59
- Mahi Manu Ultra Short Duration . . . . . . . . .. . . 1334.0 225 0.7 0.3 7.3 7.1 6.3 5.5 1.87 - Tata Retirement Savings Progre . . . . . . . . .. . . . . . . . 61.7 2122 2.0 0.5 13.5 13.3 14.3 12.3 0.30
★★★★ Aditya Birla SL Credit Risk . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.7 918 1.5 0.7 12.1 9.5 8.8 8.3 54.33
- Mirae Asset Ultra Short Duration . . . . . . . .. . . 1266.7 1616 0.5 0.2 7.6 7.4 6.6 - 1.23 - UTI Retirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 47.5 4631 1.7 1.0 11.9 11.2 13.0 9.1 0.46
★★★★ ICICI Pru Credit Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.5 6287 1.4 0.8 8.1 8.0 7.0 7.3 55.00
DEBT - MONEY MARKET FUNDS ★★★ Axis Credit Risk. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 20.6 415 1.6 0.8 8.1 7.6 6.5 6.6 57.12
Source : ACE MF. NAV for the growth option as on 01-02-2025. Returns for regular plans considered.
★★★ HDFC Credit Risk Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 23.2 7344 1.6 1.0 8.0 7.5 6.3 7.2 47.52
★★★★★ Aditya Birla SL Money Manager. . . . . . . . . . .. . . . . . 358.0 22772 0.4 0.2 7.7 7.6 6.8 6.1 -
★★★★★ Nippon Ind Money Market. . . . . . . . . . . . . . . . . . . . .. . . 4013.8 15877 0.4 0.3 7.7 7.6 6.8 6.0 -
★★★★ ICICI Pru Money Market . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 367.0 25286 0.3 0.2 7.7 7.6 6.7 6.0 -
★★★★ Tata Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4567.3 24751 0.4 0.2 7.7 7.6 6.7 6.1 -
★★★★ UTI Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 2982.1 15370
★★★ DSP Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 51.0 4008
0.2
0.5
0.2
0.3
7.7
7.3
7.6
7.3
6.8
6.3
6.0
5.6
-
-
Our Ratings Our rating is based on the historical
performance of funds (regular plans)
measured both in terms of return
returns. Sortino ratio and one-year
performance is given a 30 per cent
and 10 per cent weightage
are also shown. While the ratings will
be revised only at fixed intervals,
returns data shown here are updated

Methodology (rolling return) and risk (sortino respectively. The final score is used weekly. For all other metrics, the
★★★ Franklin Ind Money Market . . . . . . . . . . . . . . . . . . .. . . . . . . . 48.5 2374 0.3 0.1 7.6 7.5 6.5 5.8 -
★★★ HDFC Money Market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 5529.5 24761 0.4 0.2 7.6 7.5 6.6 6.0 - ratio). to rate funds within each category, latest available data is considered.
★★★ Kotak Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 4344.0 26728 0.4 0.2 7.7 7.5 6.7 5.9 - Rolling returns help identify from 5-star to 1-star, with 5-star
★★★ SBI Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 40.1 25722 0.7 0.3 7.2 7.1 6.2 5.5 - schemes that have delivered being the best rating. Ratings for all RATINGS EXCLUSIONS
★★★ Sundaram Money Market . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 14.5 574 0.3 0.2 7.5 7.3 6.5 5.6 - relatively consistent returns during funds now are based on data as on Funds with a corpus of less than ₹100
★★ Baroda BNP Paribas Money Market . . .. . . 1333.9 422 0.4 0.2 7.3 7.1 6.2 5.1 -
various market cycles and over the July 31, 2024. crore, those that have less than a
★★ HSBC Money Market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 25.5 2244 0.4 0.2 7.5 7.3 6.3 5.4 -
long run. We have considered one-, seven-year or five-year NAV history,
three- and five-year rolling returns WHAT’S ON OFFER categories that have less than five
★★ Invesco India Money Market. . . . . . . . . . . . . . . . .. . . 2949.1 5569 0.5 0.2 7.4 7.3 6.2 5.5 -
for a total of seven-year NAV history On the equity side we additionally funds, and schemes that have
★ Bandhan Money Manager . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 39.0 8169 0.4 0.1 7.2 7.0 6.1 5.2 - for equity and hybrid funds. For showcase select passive funds and on undergone a drastic change in their
★ Edelweiss Money Market . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 27.6 1233 0.8 0.2 7.0 6.7 5.7 5.3 - debt-oriented funds, we have the debt side, liquid and arbitrage mandate and portfolio (including
- Axis Money Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . 1383.9 15464 0.3 0.2 7.7 7.6 6.7 6.0 - considered one-, two- and three-year funds are included. Expense ratio for multi-cap category) are not rated.
- PGIM India Money Market . . . . . . . . . . . . . . . . . . . . .. . . 1284.9 174 0.5 0.2 7.2 7.2 6.3 - - rolling returns for a total of five-year both direct and regular plans are Retirement funds and children’s
NAV history. Sortino ratio measures disclosed. For equity, passive and funds are also not rated as the
DEBT - SHORT DURATION FUNDS the performance of the schemes solution-fund categories, 10-year investment styles of funds within
during downtrends, thus capturing returns are shown to give long-term each of these categories are not
★★★★★ ICICI Pru Short Term. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 57.9 19700 1.0 0.5 7.8 7.7 6.8 6.8 5.91
the downside risk. One-year trailing investors, a perspective. Three vital homogeneous. Passive funds cannot
★★★★★ UTI Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.6 2610 0.8 0.4 7.8 7.5 6.3 7.4 3.46 return is also considered to assess metrics for all funds — sortino ratio be rated based on return metrics and
★★★★ Aditya Birla SL Short Term . . . . . . . . . . . . . . . . . . . .. . . . . . . . 45.8 8599 1.0 0.4 7.9 7.5 6.5 6.8 2.80 the fund’s recent performance. (equity, solution categories), hence excluded. Since liquid and
★★★★ Axis Short Duration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 29.7 8879 0.9 0.4 8.0 7.5 6.3 6.4 1.97 To arrive at the final score, we have tracking error (passive) and arbitrage funds are predominantly
★★★★ HDFC Short Term Debt . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . 30.8 14816 0.7 0.4 8.3 7.8 6.5 6.7 4.95 assigned a 60 per cent weightage for exposure to ‘AA & below’ rated short-term parking grounds for cash,
★★★★ Sundaram Short Duration . . . . . . . . . . . . . . . . . . . .. . . . . . . . 42.7 218 0.9 0.3 7.9 7.4 6.2 6.3 - past performance based on rolling instruments (debt, cash categories) we haven’t rated these as well.

CM
YK ... .. . . . . .ND-NDE
 14 . bl . news
DELHI

businessline.
MONDAY - FEBRUARY 3 - 2025

VIEWSROOM.
HITESH DOSHI
New Udan routes may add Equity sell-offs by
FPIs intensifies amid
Chairman & MD, Waaree Energies Limited

20 lakh new flyers in FY26 Trump trade effect

A visionary leap for FLYING HIGH. Centre targeting revival of 13 airports, heliports and water aerodromes flight from Indian equities. In
KR Srivats
clean energy future Aneesh Phadnis
nounced a modified Udan
scheme to enhance regional
New Delhi
contrast to January’s heavy
selling, FPIs were net buyers
of ₹15,448 crore in December
Mumbai connectivity to 120 new des- The exodus of FPIs from In- 2024 but had offloaded
Budget 2025 is not just a financial blueprint; it is a tinations. dian equity markets contin- ₹94,017 crore and ₹21,612
declaration of India’s ambition to lead the global Over 20 lakh passengers are ued unabated in January crore in October and Novem-
clean energy revolution. It is comprehensive, projected to travel in new FOCUS ON N-E 2025, with net outflows ber respectively.
assertive and progressive, laying the foundation for a Udan flights in FY26 with up- The scheme will have a focus touching ₹78,027 crore, ac- VK Vijayakumar, Chief In-
sustainable and self-reliant India. What makes this grades to airports and the on hilly areas and the North- cording to depositories data. vestment Strategist at Geojit
Budget truly remarkable is its focus on inclusivity. It opening of new routes. The East. Over 4 crore passengers Except for one session, FPIs Financial Services, said the
is the people of India who emerge as the ultimate Finance Ministry has alloc- are expected to travel under remained net sellers through- primary reason behind this
beneficiaries of these reforms. From farmers and ated ₹540 crore in the FY26 the scheme in the next 10 out the month as the Trump FPI pullout is the strong US
factory workers to students and entrepreneurs, the Budget for revival of airports years, Sitharaman said. trade effect drove capital economic performance and
Budget’s measures are designed to uplift every and viability gap funding to Under the ongoing away from emerging markets. corporate earnings, which
segment of society. support the regional air con- scheme, a selected airline re- Despite the sustained have outpaced India’s recent
The introduction of the National Manufacturing nectivity scheme (RCS). ceives viability gap funding selling spree, Indian policy- growth and earnings traject-
Mission aligns seamlessly with the government’s According to the outcome SCALING NEW HEIGHTS. Finance Minister Nirmala for a route for three years and makers remain unperturbed, ory. “The Budget has im-
‘Make in India’ vision. By emphasising policy Budget document, the Civil Sitharaman has announced a modified Udan scheme to enhance is required to offer confes- viewing the trend as a phase proved sentiment, and with
support for clean-tech manufacturing, including Aviation Ministry is targeting regional connectivity to 120 new destinations sional fares to passengers. of profit-booking rather than growth and earnings recovery
solar PV modules, EV batteries and wind turbines, revival of 13 airports, heli- However, there are instances a sign of distress. “Indian fun- expected, the trend could re-
the Budget ensures a robust domestic supply chain. ports and water aerodromes of airlines closing routes or damentals remain strong and verse,” he noted. Domestic
Rationalised tariff structures and continued backing in FY 26. This would include East States, and the Ministry Udan flight between Shimla suspending operations most FPIs are exiting only challenges too have also con-
for the PLI scheme will bolster domestic production four such facilities in the expects four new destina- and Delhi in April 2017. Over within three years of launch. after booking healthy tributed to the outflows.
and reduce import dependency. North-Eastern States. tions in the region to be the past seven years, 1.5 An industry expert said se- profits,” official sources said. Himanshu Srivastava, As-
India’s commitment to renewables is evident in The Ministry is aiming for linked with air services. crore passengers have flown lection of operators could be The strengthening dollar sociate Director–Manager
the ₹1,500 crore allocation for solar power (grid). commencement of 100 new An official said targets on Udan routes. The scheme be made more stringent. An and rising US bond yields, Research at Morningstar In-
The rooftop solar sector receives a substantial boost RCS routes and 40,000 flights mentioned in the Budget re- connected 88 airports and evaluation system needs to triggered by Donald Trump’s dia, pointed out that contin-
with ₹20,000 crore allocated for the PM Surya Ghar: under the scheme in FY26. flect the Ministry’s intent. operationalised 619 routes. be put in place to ensure viab- return to the White House, ued depreciation of the rupee
Muft Bijli Yojana, almost double of last year’s The scheme will improve air Prime Minister Narendra On Saturday, Finance Min- ility of routes before its have made US assets more at- was pressuring foreign in-
Budget. This will translate to over 10.5 GW of solar
f1ccf833-44c4-4575-b5cd-33fe76bd21c0

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connectivity in the North- Modi flagged off the first ister Nirmala Sitharaman an- award, he said. tractive, leading to capital vestors to pull out funds.
installations, generating demand for 21 GW of
domestically manufactured DCR-compliant solar
cells. The PM Kusum Yojana has been allocated
₹2,600 crore to deploy 8 lakh solar pumps, reducing
farmers’ reliance on fossil fuels and lowering
operational costs.
‘Assess, don’t judge’ is former RBI Governor YV Reddy’s mantra
With ₹48,396 crore allocated to the power sector, and Kavi Yaga (Reddy’s his grit and dedication to shares in the essay.
the Budget takes decisive steps toward energy Richa Mishra
Hyderabad
daughter), talks about the work. The book is a collective The book has essays each
security and grid modernisation. A key highlight is meaning of work, how values effort but done in trademark from Shankar Acharya, P
the ₹16,021 crore investment in the revamped shape life and success, and Reddy style — simple , retro- Chidambaram, Shyamala
distribution sector scheme, focusing on prepaid Former RBI Governor YV the impact of technology on spective and yet of today, Gopinath, Venkatraman
smart metering, system metering and infrastructure Reddy is known for his wit work life. without giving any sermons. Anantha Nageswaran, Arun
upgrades to enhance efficiency and financial health and pragmatic approach to- The idea behind the book The essay, “God laughs Shourie, NK Singh, Yashwant
of discoms. To integrate renewable energy into the wards life. On a rather warm was to tell “how a generation and other reflections,” where Sinha, Usha Thorat, KV
grid, ₹600 crore has been set aside for Green Energy Sunday morning here, intro- that began their careers Reddy’s own journey has Kamath, NR Nayarana
Corridors, ensuring seamless evacuation of solar ducing “Work, Wisdom, Leg- shortly after India’s Inde- been captured, done along Murthy, a number of civil ser-
and wind power which would essentially feed into acy – 31 essays from India”, pendence explain the mean- with Kavi Yaga, stresses on a vants and journalists.
overall renewable EPC businesses. Additionally, the which he termed as probably ing of work to their twenty- term often used by him — “India has always been a
National Green Hydrogen Mission received a his last book project, Reddy first century grandchildren?” “Assess, don’t judge”, a man- YET ANOTHER GEM. Former RBI Governor YV Reddy (right) country of many paradoxes.
much-needed boost with ₹600 crore, doubling last said, “This book is for my Reddy said. The final essay in tra he followed throughout with Ravi Menon, leadership training expert, and One can only hope that her
year’s allocation, positioning India as a global leader grandchildren and for all the book, “Rear View”, ex- his career. Of course, humour K Padmanabhaiah, Chairman of the Court of Governors of the innate resilience and the un-
in green hydrogen. The Budget’s focus on energy other grandchildren.” plores the constantly is everyone’s best friend, and ASCI, at the launch of the book Work, Wisdom, Legacy – 31 breakable spirit of its people,
storage is particularly laudable. By offering duty At a time when maximum evolving relationship Reddy has it in abundance. essays from India in Hyderabad on Sunday who preserved a way of life
exemptions on critical minerals like cobalt, lithium debates are happening on the between the state, market “Because of the formality of through centuries of foreign
and zinc, and adding capital goods for EV and mobile number of working hours, and citizens, which have my job in the RBI, public of- Governor, I was at a press intervene in the market if I dominance, will see her
phone battery manufacturing to the duty-exempt this series of essays, written defined our working lives. ten expected me to be seri- conference when a journalist did not know the desirable through. These aspects must
list, the government has taken a decisive step toward by people of eminence from ous. They were constantly asked whether I was comfort- exchange rate. I said, I can’t ensure a better world for its
building a resilient energy storage ecosystem. This varied professions and com- TRADEMARK STYLE surprised that I could be hu- able with the prevailing ex- define God, but I can recog- citizens to lead lives of im-
will not only bolster India’s EV industry but also piled by Reddy along with The preface of the book tells morous,” he said. change rate. I said, I didn’t nise the devil. And whenever proved quality — with or
enhance grid stability, enabling higher renewable Ravi Menon, Shaji Vikraman us what Reddy is made of — “In my first year as RBI know. He asked, how I could I see the devil, I fight,” Reddy without work,” they say.
energy penetration.
The announcement of a 100 GW nuclear power
capacity target by 2047 and the establishment of a
Nuclear Energy Mission with a ₹20,000 crore outlay
for Small Modular Reactors is yet another visionary
TODAY’S PICK.
move. Another key takeaway is the emphasis on HBL Engineering (₹574.70): BUY
power sector reforms — a long-awaited move that
will improve the financial health of electricity
companies. The provision allowing additional Akhil Nallamuthu
bl. research bureau
borrowing of 0.5 per cent of GSDP for States that
implement electricity distribution reforms is a The stock of HBL Engineering
pragmatic approach. has been in a downtrend since
The Budget’s focus on export-led growth and mid-December after facing
integration into global supply chains is a clear signal resistance at ₹700. But last
of India’s ambition to become a global week, the stock found support
manufacturing hub. The Export Promotion Mission at ₹500 and rebounded.
for MSMEs, coupled with sectoral targets and It rallied in the past few
facilitation groups, will empower Indian businesses sessions, and the price is now dips to ₹550. Place astop-loss at
to compete on the world stage. This aligns perfectly above the 20- and 100-day ₹520. Raise the stop-loss to ₹600
with the vision of transforming ‘Make in India’ into moving averages, a positive sign. when the stock hits ₹640.
‘Make for India, Make for the World.’ Although the price declined in Tighten the stop-loss further to
By prioritising domestic manufacturing, energy the last session, the uptrend has ₹640 when the price touches
storage, nuclear energy, skilling and R&D, the not been invalidated. We expect ₹680. Book profits at ₹700.
government has set the stage for a new chapter in the stock to resume the rally and
India’s evolution — one where we not only meet our appreciate to ₹700 again in the Note: The recommendations are based
own energy needs but also lead the world in clean short term. So, one can buy at on technical analysis. There is a risk of
energy innovation. ₹570 and accumulate if the price loss in trading.

IndiaAI Mission gets BSNL funding slashed

₹2,000 cr Budget boost by 59% to ₹33,757 crore
Vallari Sanzgiri The allocation is Vallari Sanzgiri
Mumbai considerably Mumbai

higher than the

India’s ambitions to launch The government allocated
its own foundational AI ₹551 crore assigned ₹33,757.58 crore to BSNL in
model over the next 10 to the Mission in the Budget, a 59 per cent de-
months has been backed by Budget 2024 cline from the ₹82,916.20
an outlay of ₹2,000 crore in crore allocated in the previ-
the Budget. ous Budget, though it only
The allocation is consider- foundation models, we can managed to spend
ably higher than the ₹551 expect the Mission to sup- ₹72,027.65 crore. The
crore assigned to the Mission port universities and in- Budget also did not allocate The Budget also did not
in Budget 2024. Last year, the dustry to build such models. grants-in-aid to BSNL for allocate grants-in-aid to BSNL
Cabinet announced an alloc- This support would include GST payment. for GST payments
ation of ₹10,300 crore for the providing the required com- According to Mahesh Up-
IndiaAI Mission over five pute and financial pal, Director of Com First
years. assistance.” (India), the lower invest- Meanwhile, Sumeysh
Reacting to the announce- ment indicates that the gov- Srivastava, Associate Dir-
ment this year, Ashok NOT TECH-ORIENTED ernment has injected a fair ector-Public Policy at The
Chandak, President of the However, Sanchit Vir Gogia, amount of investment to- Quantum Hub, said the
India Electronics and Semi- Chief Analyst and CEO at wards BSNL over the last 2-3 higher investments last year
conductor Association Greyhound Research, years and now expects the may be attributed to the
(IESA), said, “The allocation viewed the Budget as “not entity to demonstrate its vi- launch of BSNL’s 4G
of ₹2,000 crore for the AI technology-oriented”. ability and effiectivity in the services.
Mission is a practical step to- “Considering where we market. “It must be noted that
wards establishing India’s are today, the ₹2,000 crore BSNL has been focusing on
leadership in artificial intelli- allocation is enough to lay 4G SERVICES LAUNCH the all-India launch of its 4G
gence. With the GPU pro- down the bedrock of GPU in- However, when asked services over the last couple
gramme already decided and frastructure required to start whether BSNL can live up to of years, which may explain
10 players shortlisted, we are work by Indian AI start-ups. the challenge, Uppal said, “In the higher capital infusion in
positioned to make signific- Typically, Budget announce- terms of performance, BSNL that time period. In 2025-26,
ant advancements.” ments for such missions are has historically been an un- BSNL continues to receive
Similarly, Omir Kumar, spread out over 5-7 years so derachiever because it lacks substantial financial sup-
Policy Analyst at the Centre the allocation does not come commercial autonomy. Un- port, though with a signific-
for Responsible AI (CeRAI), as a surprise and should not less the government loosens ant reduction in capital infu-
said the Budgetary allocation impact the Mission overall. its control, it will be hard for sion. This is possibly
is the right step in that direc- Looking at the entire Budget, BSNL’s leadership to be com- signalling a shift towards
tion. it’s a technology-friendly petitive in terms of quality self-sustainability and opera-
“Given how Indian in- budget but not technology- and capacity compared to tional efficiency,” said
tends to build its own AI oriented.” he said. other players.” Srivastava.
CM
YK ... . . . . . . ND-NDE