ICICI Pru schemes gain due to NTPC, ONGC, GAIL rallies
THE portfolios of ICICI Prudential Mutual Fund received a shot in the arm when the shares of NTPC, ONGC and GAIL rallied between 4 - 8.5 per cent on Thursday’s trade.
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Mumbai: THE portfolios of ICICI Prudential Mutual Fund received a shot in the arm when the shares of NTPC, ONGC and GAIL rallied between 4 - 8.5 per cent on Thursday's trade. Over the past one week these stocks have gained 6.3 per cent, 11.3 per cent and 5 per cent respectively.
ICICI Prudential since the past year has been positive on cyclicals and has been overweight power and gas names across several of their portfolios.
Several of the schemes of ICICI Prudential Mutual Fund schemes have been the largest holders of ONGC and NTPC stock within the mutual fund industry.
When it comes to GAIL, along with ICICI Prudential, HDFC and Franklin are the other fund houses which have a sizeable exposure to this stock. ICICI Prudential Equity & Debt Fund, ICICI Prudential Multi-Asset Fund, ICICI Prudential India Opportunities Fund, all of which is managed by S Naren, the CIO of the fund house had an exposure of 5-6 per cent to ONGC. Similarly, these three schemes have exposure to NTPC ranging between 7 and 9.2 per cent.
