Mutual funds aggressively raise stakes in Aditya Birla Capital, RBL Bank in Q3 FY26; check the full list

The fund houses raised their stakes in the country's largest private sector lender, HDFC Bank. Other companies where mutual funds increased their stakes are Aditya Birla Capital, PG Electroplast, JB Chemicals and Pharmaceuticals, Havells India, Apollo Hospitals, Neuland Laboratories, Capri Global and RBL Bank.

This is despite fund flows in equity schemes declining by 6% in December 2025.

As per the data compiled by Ace Equity, mutual funds increased their stake in HDFC Bank to 26.66% at the end of the December quarter from the 26.02% stake they held at the end of the September quarter. The mutual funds held a 23.93% stake in the Mumbai-based lender in the December quarter of 2024.

A total of 734 mutual fund schemes have exposure to HDFC Bank, with SBI NIFTY50 ETF, ICICI Prudential Large Cap Fund, HDFC Flexi Cap Fund, UTI NIFTY50 ETF, NIPPON India ETF NIFTY50 BEES and venture capital funds being the leading mutual fund schemes holding a stake in the bank.

Mutual funds aggressively raised their stake in Aditya Birla Capital, the country's leading non-banking finance company.

The fund houses more than doubled their stake in Aditya Birla Capital to 7.68% at the end of the December quarter as against the 3.44% stake they held in the company in the year-ago period.

Motilal Oswal NIFTY Midcap 100 ETF is the prominent mutual fund scheme which holds a 2.06% stake in the company.

Neuland Labs also saw significant buying interest by mutual funds in the December quarter, as they increased their stake in the company to 10.39% at the end of the December quarter compared with the 6.29% stake they had in the corresponding period last year.

ICICI Prudential S&P BSE 500 ETF, HSBC Small Cap Fund, Mahindra Manulife ELSS Tax Saver Fund and Bajaj Finserv Flexi Cap Fund are prominent fund schemes that hold stakes in the company.

RBL Bank also saw strong buying by mutual funds in the December quarter as they aggressively lapped onto RBL Bank shares by raising their stake in the private sector lender to 34.44% from the 12.44% stake they had in the year-ago period.

Quant Small Cap Fund, HSBC Midcap Fund, Kotak Multicap Fund, Nippon India Small Cap Fund, Aditya Birla Sun Life Arbitrage Fund and Tata Aggressive Hybrid Fund are among the prominent fund schemes that hold stake in the private sector lender.

MF flows data for December 2025

Equity mutual fund inflows fell by 6.21% to ₹28,054.06 crore in December 2025 from ₹29,911.05 crore in November.

Debt mutual funds also recorded significant outflows in December, as investors withdrew ₹1,32,410.37 crore from debt-orientated schemes. In November, debt mutual fund outflows stood at ₹25,692.63 crore.

Accordingly, the mutual fund industry witnessed net outflows of ₹66,590.70 crore in December. Further, the total assets under management (AUM) of the industry slipped to ₹80,23,378.99 crore, down 0.7% from ₹80,80,369.52 crore in November.