Markets / Mutual funds / Sectoral / Thematic

ITI Business Cycle Fund - Direct Plan - Growth

NAVs of 8 Nov 2026

ITI Mutual Fund · Equity fund · Direct plan · Growth

Sectoral / ThematicDirect · GrowthRisk: Very High

NAV · 5 Nov 2026

₹10.3771 ▲ 0.67%

ITI Mutual Fund

Fund size₹116 crJuly - September 2026

1-month range₹9.71 – 10.52

1 year–

Expense ratio1.62%direct plan, a year

5 years–a year

What the fund does

The Investment objective of the Scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related securities through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. However, there can be no assurance that the investment objective of the scheme would be achieved.

BenchmarkNifty 500 Total Return Index

Launched9 Mar 2026

Fund houseITI Mutual Fund

Fund managersNilay Dalalsince 9 Mar 2026Alok Ranjansince 9 Mar 2026Rajesh Bhatia

NAV history

Returns

1 week

+3.20%avg 4.5%

1 month

-1.37%avg 2.5%

3 months

-2.44%avg -1.8%

6 months

-1.80%avg 3.3%

Bars: this plan; the thin mark is the Sectoral / Thematic average (direct plans, growth option). Over a year: yearly averages (CAGR). Past returns do not guarantee future returns. Information only, not investment advice.

Monthly returns (%)

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026			-3.5	+6.8	+0.6	+1.3	-0.1	+1.9	-0.9	-5.7	+4.0

Each month's change in NAV (the current month to the latest NAV).

What if you had invested?

Amount (₹) Started

Worked out from this plan's actual NAVs. SIP: invested on the first NAV of each month. Taxes and exit loads are not included. Past returns do not guarantee future returns. Information only, not investment advice.

Portfolio as on 30 Sept 2026

Stocks held7173 lines in all

Top 10 stocks25.4%of the fund

Equity91.3%stocks and equity derivatives

Debt & cash8.7%everything else

Where the money is

Equity 91.3%Cash & others 8.7%

Sectors (stocks held)

Banks

14.1%

Pharmaceuticals & Biotechnology

12.6%

IT - Services

6.0%

Industrial Products

4.5%

Healthcare Services

4.3%

Chemicals & Petrochemicals

4.3%

Automobiles

3.5%

Finance

3.5%

Changes since 31 Aug 2026

Share of fund	30 Sept 2026	31 Aug 2026	Change
Stocks held	91.3%	97.1%	-5.76
Cash & others	8.7%	2.9%	+5.76
Top 10 stocks	25.4%	21.8%	+3.55
Number of stocks	71	75	-4

New stocks 14

Manipal Payment and Identity Solutions Ltd2.02%
HDFC Life Insurance Company Limited2.01%
Multi Commodity Exchange of India Limited1.34%
Kirloskar Oil Engines Limited1.29%
Ramkrishna Forgings Limited1.28%
Piramal Pharma Limited1.28%
Kalpataru Projects International Limited1.25%
Indo-MIM Limited1.25%
BEML Limited1.22%
LT Foods Limited1.13%
Global Health Limited0.98%
Inox Green Energy Services Limited0.83%
Ather Energy Limited0.57%
Bandhan Bank Limited0.50%

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Stocks sold off 18

Shriram Finance Limitedwas 1.72%
Tech Mahindra Limitedwas 1.49%
Hero MotoCorp Limitedwas 1.48%
Nestle India Limitedwas 1.37%
Cholamandalam Investment and Finance Company Ltdwas 1.36%
Oberoi Realty Limitedwas 1.31%
Pidilite Industries Limitedwas 1.27%
L&T Finance Limitedwas 1.25%
Bharat Forge Limitedwas 1.22%
Affle 3i Limitedwas 1.20%
Endurance Technologies Limitedwas 1.18%
Delhivery Limitedwas 1.16%
Jubilant Ingrevia Limitedwas 1.12%
ABB India Limitedwas 1.09%
Krishna Institute Of Medical Sciences Limitedwas 1.04%
CreditAccess Grameen Limitedwas 0.87%
BOROSIL RENEWABLES LIMITEDwas 0.81%
360 One WAM Limitedwas 0.49%

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Bought more 3

ESDS Software Solution Ltd+4.31
HDFC Bank Limited+0.98
Eternal Limited+0.78

Cut back 5

ICICI Bank Limited-1.32
Bajaj Finance Limited-1.18
State Bank of India-1.16
SBI Funds Management Limited-0.73
Turtlemint Fintech Solutions Limited-0.70

Change is in percentage points. Bought more and cut back list stocks whose share of the fund moved by at least 0.25 points. A share can also move because the price changed, not only because the fund traded.

Stocks held 71

Holding	Sector / type	% of fund
ESDS Software Solution Ltd INE0DRI01029	IT - Services	6.03%
HDFC Bank Limited INE040A01034	Banks	3.83%
ICICI Bank Limited INE090A01021	Banks	2.37%
Eternal Limited INE758T01015	Retailing	2.19%
Manipal Payment and Identity Solutions Ltd INE241U01028	Financial Technology (Fintech)	2.02%
HDFC Life Insurance Company Limited INE795G01014	Insurance	2.01%
Reliance Industries Limited INE002A01018	Petroleum Products	1.93%
Titan Company Limited INE280A01028	Consumer Durables	1.70%
Bajaj Auto Limited INE917I01010	Automobiles	1.70%
Laurus Labs Limited INE947Q01028	Pharmaceuticals & Biotechnology	1.59%
Divi's Laboratories Limited INE361B01024	Pharmaceuticals & Biotechnology	1.54%
Grasim Industries Limited INE047A01021	Cement & Cement Products	1.41%
LG Electronics India Ltd INE324D01010	Consumer Durables	1.40%
AU Small Finance Bank Limited INE949L01017	Banks	1.39%
Multi Commodity Exchange of India Limited INE745G01043	Capital Markets	1.34%
Ajanta Pharma Limited INE031B01049	Pharmaceuticals & Biotechnology	1.32%
Bajaj Finance Limited INE296A01032	Finance	1.31%
Apollo Hospitals Enterprise Limited INE437A01024	Healthcare Services	1.30%
Kirloskar Oil Engines Limited INE146L01010	Industrial Products	1.29%
Ramkrishna Forgings Limited INE399G01023	Auto Components	1.28%
Piramal Pharma Limited INE0DK501011	Pharmaceuticals & Biotechnology	1.28%
TVS Motor Company Limited INE494B01023	Automobiles	1.26%
Kalpataru Projects International Limited INE220B01022	Construction	1.25%
Indo-MIM Limited INE084101034	Industrial Manufacturing	1.25%
Aurobindo Pharma Limited INE406A01037	Pharmaceuticals & Biotechnology	1.25%
Hindalco Industries Limited INE038A01020	Non - Ferrous Metals	1.24%
Redington Limited INE891D01026	Commercial Services & Supplies	1.23%
Poonawalla Fincorp Limited INE511C01022	Finance	1.22%
BEML Limited INE258A01024	Agricultural, Commercial & Construction Vehicles	1.22%
IDFC First Bank Limited INE092T01019	Banks	1.21%
Syrma SGS Technology Limited INE0DYJ01015	Industrial Manufacturing	1.20%
Finolex Cables Limited INE235A01022	Industrial Products	1.19%
Navin Fluorine International Limited INE048G01026	Chemicals & Petrochemicals	1.19%
Glenmark Pharmaceuticals Limited INE935A01035	Pharmaceuticals & Biotechnology	1.19%
Solar Industries India Limited INE343H01029	Chemicals & Petrochemicals	1.18%
RBL Bank Limited INE976G01028	Banks	1.17%
Bharat Heavy Electricals Limited INE257A01026	Electrical Equipment	1.17%
Torrent Pharmaceuticals Limited INE685A01028	Pharmaceuticals & Biotechnology	1.17%
Neuland Laboratories Limited INE794A01010	Pharmaceuticals & Biotechnology	1.16%
LT Foods Limited INE818H01020	Agricultural Food & other Products	1.13%
Dr. Lal Path Labs Limited INE600L01024	Healthcare Services	1.13%
IPCA Laboratories Limited INE571A01038	Pharmaceuticals & Biotechnology	1.12%
Hindustan Copper Limited INE531E01026	Non - Ferrous Metals	1.11%
Radico Khaitan Limited INE944F01028	Beverages	1.10%
Marico Limited INE196A01026	Agricultural Food & other Products	1.10%
Elgi Equipments Limited INE285A01027	Industrial Products	1.04%
Gujarat Fluorochemicals Limited INE09N301011	Chemicals & Petrochemicals	1.03%
The Great Eastern Shipping Company Limited INE017A01032	Transport Services	1.02%
FSN E-Commerce Ventures Limited INE388Y01029	Retailing	1.02%
Data Patterns (India) Limited INE0IX101010	Aerospace & Defense	1.01%
Adani Power Limited INE814H01029	Power	1.01%
Yes Bank Limited INE528G01035	Banks	1.00%
Biocon Limited INE376G01013	Pharmaceuticals & Biotechnology	1.00%
City Union Bank Limited INE491A01021	Banks	0.99%
Global Health Limited INE474Q01031	Healthcare Services	0.98%
Usha Martin Limited INE228A01035	Industrial Products	0.96%
IIFL Finance Limited INE530B01024	Finance	0.95%
Infosys Limited INE009A01021	IT - Software	0.95%
Steel Authority of India Limited INE114A01011	Ferrous Metals	0.92%
Aster DM Quality Care Limited INE914M01019	Healthcare Services	0.92%
Aarti Industries Limited INE769A01020	Chemicals & Petrochemicals	0.91%
DCB Bank Limited INE503A01015	Banks	0.90%
Inox Green Energy Services Limited INE510W01014	Commercial Services & Supplies	0.83%
Central Mine Planning & Design Institute Limited INE05HV01027	Commercial Services & Supplies	0.82%
Turtlemint Fintech Solutions Limited INE0OC301013	Financial Technology (Fintech)	0.78%
NMDC Limited INE584A01023	Minerals & Mining	0.75%
State Bank of India INE062A01020	Banks	0.74%
SBI Funds Management Limited INE640G01020	Capital Markets	0.59%
Ather Energy Limited INE0LEZ01016	Automobiles	0.57%
Bandhan Bank Limited INE545U01014	Banks	0.50%
National Aluminium Company Limited INE139A01034	Non - Ferrous Metals	0.46%

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Debt, money market and cash 2

Holding	Sector / type	% of fund
TREPS 01-Oct-2026	–	5.27%
Net Receivables / (Payables)	–	3.41%

From the fund house's monthly portfolio (itiamc.com), as on 30 Sept 2026. Percentages are of the fund's net assets. Published about ten days after each month ends.

Risk

Volatility12.7%yearly, from daily NAVs

Worst fall-12.35%23 Sept 2026 → 23 Oct 2026

RiskometerVery HighVery High

Volatility: how much the NAV moves, as a yearly figure (higher = bumpier). Worst fall: the biggest drop from a high, in the NAV history we hold (from 12 Mar 2026).

Fund details

Fund size (average AUM, July - September 2026)	₹116 cr across all plans · this plan ₹4.13 cr
Fund house	ITI Mutual Fund
Category	Equity · Sectoral / Thematic
Plan	Direct
Option	Growth
Expense ratio (TER)	Direct 1.62% · Regular 3.38% (5 Nov 2026)
Exit load	0.50% if redeemed or switched out on or before completion of 3 months from the date of allotment of units ; Nil, if redeemed or switched out after completion of 3 months from the date of allotment of units.
Minimum investment	₹5,000 · additional ₹1,000
Scheme code (AMFI)	154157
ISIN	INF00XX01DM9
NAV date	5 Nov 2026

Scheme details from the fund's scheme summary document filed with AMFI; expense ratios from AMFI's daily filings.

Other plans of this fund

Plan	NAV	1 year
Direct · IDCW	₹10.3771	–
Regular · Growth	₹10.2553	–
Regular · IDCW	₹10.2553	–

Top Sectoral / Thematic funds (direct plans)

Fund	1 year	3 years (a year)
Nippon India Taiwan Equity Fund	+49.17%	+45.49%
HDFC Defence Fund	+18.82%	+35.64%
HDFC Pharma and Healthcare Fund	+26.22%	+31.34%
SBI HEALTHCARE OPPORTUNITIES FUND	+20.99%	+25.54%
HDFC Transportation and Logistics Fund	+9.04%	+25.47%
Mirae Asset Healthcare Fund	+22.03%	+24.65%
UTI - Healthcare Fund	+17.27%	+24.46%
ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND	+11.93%	+23.21%
ITI Business Cycle Fund	–	–

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Information only, not investment advice.

What is the NAV of ITI Business Cycle Fund - Direct Plan - Growth today?

₹10.3771 as of 5 Nov 2026, from AMFI's official NAV data.

What are the returns of ITI Business Cycle Fund - Direct Plan - Growth?

Returns appear once enough NAV history is available.

What is the difference between direct and regular plans?

Both invest in the same portfolio. Direct plans are bought straight from the fund house and pay no distributor commission, so their expenses are lower and their NAV grows slightly faster.