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Axis Business Cycles Fund

Mutual fund

Direct · Growth

· AMFI 151368

₹18.14

+4.9%over 1 year

Price of one unit (NAV) on 11 November 2026

NAV went from ₹17.30 on 11 November 2025 to ₹18.14 on 11 November 2026.

Past prices are not a forecast of anything.

Ask about this fund

Overview

Kind of fund
Thematic
Yearly fee
1.63%
Since 8 October 2026
Fund size
₹2,168 crore
Started
22 February 2023
Exit load
1% if sold within 12 months, on units over 10% of the investment
Compared against
NIFTY 500 TRI
Plan
Direct · Growth
Companies held
80
83 lines in all
Holdings as at
30 August 2026

What does it hold?

Company size

  • Large
  • Mid
  • Small
  • Cash, bonds, abroad
  • Axis Business Cycles Fund

Industries

  • Financial24%
  • Materials20%
  • Consumer Discretionary15%
  • Industrials14%
  • Technology11%
  • Healthcare4%
  • Energy & Utilities4%
  • Consumer Staples3%

Top companies

10 of 80 companies · holdings as at 30 August 2026

  1. 1

    Larsen & Toubro Ltd

    LargeIndustrials

    3.8%
  2. 2

    ICICI Bank Ltd

    LargeFinancial

    3.7%
  3. 3

    Axis Bank Ltd

    LargeFinancial

    3.6%
  4. 4

    HDFC Bank Ltd

    LargeFinancial

    3.0%
  5. 5

    Grasim Industries Ltd

    LargeMaterials

    2.8%
  6. 6

    Kotak Mahindra Bank Ltd

    LargeFinancial

    2.5%
  7. 7

    Aether Industries Ltd

    SmallMaterials

    2.4%
  8. 8

    Bharti Airtel Ltd

    LargeTechnology

    2.4%
  9. 9

    Indusind Bank Ltd

    MidFinancial

    2.3%
  10. 10

    Mahindra & Mahindra Ltd

    LargeConsumer Discretionary

    2.3%
Show all 80
  1. 11

    One 97 Communications Ltd

    MidIndustrials

    2.2%
  2. 12

    PTC Industries Ltd

    SmallMaterials

    2.1%
  3. 13

    HCL Technologies Ltd

    LargeTechnology

    2.0%
  4. 14

    Reliance Industries Ltd

    LargeEnergy & Utilities

    1.9%
  5. 15

    Zomato Ltd

    LargeTechnology

    1.7%
  6. 16

    Jindal Steel & Power Ltd

    LargeMaterials

    1.5%
  7. 17

    Bajaj Finance Ltd

    LargeFinancial

    1.5%
  8. 18

    Solar Industries India Ltd

    LargeMaterials

    1.5%
  9. 19

    CreditAccess Grameen Ltd

    SmallFinancial

    1.5%
  10. 20

    Mankind Pharma Ltd.

    MidHealthcare

    1.4%
  11. 21

    Sona BLW Precision Forgings Ltd

    MidConsumer Discretionary

    1.4%
  12. 22

    Vishal Mega Mart Ltd.

    MidConsumer Staples

    1.4%
  13. 23

    Tata Motors Ltd

    LargeIndustrials

    1.3%
  14. 24

    Jyoti CNC Automation Ltd.

    SmallIndustrials

    1.3%
  15. 25

    NTPC Ltd

    LargeEnergy & Utilities

    1.3%
  16. 26

    Bosch Ltd

    LargeConsumer Discretionary

    1.3%
  17. 27

    TD Power Systems Ltd

    SmallIndustrials

    1.3%
  18. 28

    Hyundai Motor India Ltd.

    LargeConsumer Discretionary

    1.2%
  19. 29

    Asian Paints Ltd

    LargeMaterials

    1.1%
  20. 30

    Endurance Technologies Ltd

    MidConsumer Discretionary

    1.1%
  21. 31

    Titagarh Wagons Ltd

    SmallIndustrials

    1.1%
  22. 32

    Bajaj Finserv Ltd

    LargeFinancial

    1.0%
  23. 33

    Hindustan Zinc Ltd

    LargeMaterials

    1.0%
  24. 34

    Amber Enterprises India Ltd

    SmallConsumer Discretionary

    1.0%
  25. 35

    PNB Housing Finance Ltd

    SmallFinancial

    1.0%
  26. 36

    Hindustan Copper Ltd

    MidMaterials

    1.0%
  27. 37

    Coforge Ltd

    MidTechnology

    1.0%
  28. 38

    Brigade Enterprises Ltd

    SmallReal Estate

    1.0%
  29. 39

    ABB India Ltd

    LargeIndustrials

    1.0%
  30. 40

    Canara Bank

    LargeFinancial

    1.0%
  31. 41

    Delhivery Ltd

    SmallIndustrials

    1.0%
  32. 42

    Info Edge (India) Ltd

    MidTechnology

    1.0%
  33. 43

    Bharat Forge Ltd

    MidConsumer Discretionary

    0.9%
  34. 44

    Ambuja Cements Ltd

    MidMaterials

    0.9%
  35. 45

    Vedanta Aluminium Metal Ltd

    LargeMaterials

    0.9%
  36. 46

    RBL Bank Ltd

    MidFinancial

    0.9%
  37. 47

    Swiggy Ltd.

    MidTechnology

    0.9%
  38. 48

    Pine Labs Ltd.

    SmallTechnology

    0.9%
  39. 49

    RHI Magnesita India Ltd

    SmallMaterials

    0.9%
  40. 50

    Cummins India Ltd

    LargeIndustrials

    0.9%
  41. 51

    Gujarat Fluorochemicals Ltd

    MidMaterials

    0.8%
  42. 52

    Sapphire Foods India Ltd

    SmallConsumer Discretionary

    0.8%
  43. 53

    Max Healthcare Institute Ltd

    MidHealthcare

    0.8%
  44. 54

    Jubilant FoodWorks Ltd

    SmallConsumer Discretionary

    0.8%
  45. 55

    Jubilant Ingrevia Ltd

    SmallMaterials

    0.8%
  46. 56

    Healthcare Global Enterprises Ltd

    SmallHealthcare

    0.8%
  47. 57

    Minda Corporation Ltd

    SmallConsumer Discretionary

    0.7%
  48. 58

    Aarti Industries Ltd

    SmallMaterials

    0.7%
  49. 59

    United Spirits Ltd

    MidConsumer Staples

    0.7%
  50. 60

    Mphasis Ltd

    MidTechnology

    0.7%
  51. 61

    Chalet Hotels Ltd

    SmallConsumer Discretionary

    0.7%
  52. 62

    Hindustan Aeronautics Ltd

    LargeIndustrials

    0.7%
  53. 63

    City Union Bank Ltd

    SmallFinancial

    0.7%
  54. 64

    Welspun Corp Ltd

    MidMaterials

    0.6%
  55. 65

    Page Industries Ltd

    MidConsumer Discretionary

    0.6%
  56. 66

    Anthem Biosciences Ltd.

    MidHealthcare

    0.6%
  57. 67

    Hindustan Unilever Ltd

    LargeConsumer Staples

    0.6%
  58. 68

    Tube Investments Of India Ltd

    MidConsumer Discretionary

    0.6%
  59. 69

    PI Industries Ltd

    SmallMaterials

    0.6%
  60. 70

    Oil & Natural Gas Corporation Ltd

    LargeEnergy & Utilities

    0.6%
  61. 71

    Alkem Laboratories Ltd

    MidHealthcare

    0.6%
  62. 72

    Shriram Pistons & Rings Ltd

    SmallConsumer Discretionary

    0.6%
  63. 73

    IIFL Wealth Management Ltd

    MidFinancial

    0.6%
  64. 74

    S.J.S Enterprises Ltd

    SmallConsumer Discretionary

    0.5%
  65. 75

    Tech Mahindra Ltd

    LargeTechnology

    0.5%
  66. 76

    SBI Life Insurance Company Ltd

    LargeFinancial

    0.4%
  67. 77

    Century Textiles & Industries Ltd

    SmallMaterials

    0.4%
  68. 78

    Jindal Stainless Ltd

    MidMaterials

    0.3%
  69. 79

    Dhoot Transmission Ltd

    SmallConsumer Discretionary

    0.2%
  70. 80

    NIFTY September 2026 Future

    Financial

    0.0%

What does it cost?

1.63% a year: ₹163 on every ₹10,000 you hold.

The middle fee for Thematic direct plans is 1.05%.

Exit load: 1% if sold within 12 months, on units over 10% of the investment

How has it done?

1 year
+4.9%
3 years, per year
+14.0%
5 years, per year
Too young

Worst fall so far: −19.3% (Sep 2024 to Feb 2025).

Past prices are not a forecast of anything.

Events

  1. 8 October 2026Fee moved between 1.59% and 1.63% a year (4 changes, 1 Sep – 8 Oct 2026).
  2. 30 August 2026New portfolio published: holdings as at 30 August 2026.
  3. 1 August 2026Fee moved between 1.61% and 1.62% a year (2 changes, 31 Jul – 1 Aug 2026).
  4. 23 July 2026Fee changed from 1.56% to 1.62% a year.
  5. 14 July 2026Fee moved between 1.55% and 1.56% a year (2 changes, 10 Jul – 14 Jul 2026).
Show all 47
  1. 8 July 2026Fee changed from 1.44% to 1.56% a year.
  2. 7 July 2026Fee moved between 1.43% and 1.48% a year (3 changes, 1 Jul – 7 Jul 2026).
  3. 18 June 2026Fee changed from 1.35% to 1.48% a year.
  4. 12 June 2026Fee moved between 1.35% and 1.37% a year (4 changes, 8 Jun – 12 Jun 2026).
  5. 3 June 2026Fee changed from 1.26% to 1.36% a year.
  6. 1 June 2026Fee changed from 0.91% to 1.26% a year.
  7. 30 May 2026Fee moved between 0.90% and 0.92% a year (3 changes, 28 May – 30 May 2026).
  8. 27 May 2026Fee changed from 2.48% to 0.91% a year.
  9. 26 May 2026Fee changed from 0.96% to 2.48% a year.
  10. 25 May 2026Fee changed from 0.91% to 0.96% a year.
  11. 23 May 2026Fee changed from 2.21% to 0.91% a year.
  12. 22 May 2026Fee changed from 3.65% to 2.21% a year.
  13. 21 May 2026Fee changed from 1.21% to 3.65% a year.
  14. 20 May 2026Fee changed from 1.34% to 1.21% a year.
  15. 19 May 2026Fee changed from 0.96% to 1.34% a year.
  16. 18 May 2026Fee changed from 0.91% to 0.96% a year.
  17. 16 May 2026Fee changed from 1.06% to 0.91% a year.
  18. 14 May 2026Fee changed from 1.09% to 1.06% a year.
  19. 13 May 2026Fee changed from 0.88% to 1.09% a year.
  20. 12 May 2026Fee changed from 1.14% to 0.88% a year.
  21. 11 May 2026Fee changed from 0.87% to 1.14% a year.
  22. 9 May 2026Fee changed from 1.09% to 0.87% a year.
  23. 8 May 2026Fee changed from 2.00% to 1.09% a year.
  24. 7 May 2026Fee changed from 1.39% to 2.00% a year.
  25. 6 May 2026Fee changed from 0.87% to 1.39% a year.
  26. 1 May 2026Fee changed from 1.70% to 0.87% a year.
  27. 29 April 2026Fee changed from 0.87% to 1.70% a year.
  28. 8 January 2026Fee moved between 0.86% and 0.87% a year (5 changes, 8 Dec 2025 – 8 Jan 2026).
  29. 1 December 2025Fee changed from 0.80% to 0.86% a year.
  30. 20 November 2025Fee moved between 0.79% and 0.80% a year (7 changes, 6 Nov – 20 Nov 2025).
  31. 4 November 2025Fee changed from 0.73% to 0.79% a year.
  32. 3 November 2025Fee moved between 0.69% and 0.74% a year (27 changes, 9 May – 3 Nov 2025).
  33. 7 May 2025Fee moved between 0.68% and 0.73% a year (24 changes, 9 Jan – 7 May 2025).
  34. 1 January 2025Fee moved between 0.64% and 0.68% a year (21 changes, 23 Jul 2024 – 1 Jan 2025).
  35. 22 July 2024Fee changed from 0.61% to 0.65% a year.
  36. 20 June 2024Fee changed from 0.55% to 0.61% a year.
  37. 30 May 2024Fee moved between 0.55% and 0.59% a year (5 changes, 25 Feb – 30 May 2024).
  38. 15 February 2024Fee changed from 0.53% to 0.59% a year.
  39. 9 February 2024Fee moved between 0.51% and 0.54% a year (8 changes, 13 Nov 2023 – 9 Feb 2024).
  40. 7 November 2023Fee changed from 0.48% to 0.54% a year.
  41. 18 October 2023Fee moved between 0.46% and 0.51% a year (12 changes, 4 Jul – 18 Oct 2023).
  42. 3 July 2023Fee moved between 0.51% and 0.56% a year (12 changes, 5 Apr – 3 Jul 2023).

Related

All 232 Thematic funds, A to Z →

Sources and dates

Holdings
Groww's page for this fund, month-end 30 August 2026
Prices
AMFI via mfapi.in, to 11 November 2026
Fee
Groww, from 8 October 2026
Company sizes
SEBI's rank by full market value, 25 September 2026