Funds that can ride Bandhan Bank rally

The youngest bank listed on the Indian stock markets, Bandhan Bank had reported stellar quarterly results recently. The bank's Q1FY19 results witnessed an exceptional profit growth of 47 per cent yoy on the back of robust loan book growth.

During the period, advances grew at an accelerated pace of 52 per cent year-on-year (YoY) where 86 per cent of its book still comprises of micro banking loans. The bank has developed its asset base in the short span of 3 years. The growth in CASA has been reported at 84 per cent which has outpaced the bank's total deposit growth of 37 per cent yoy at the end of Q1FY19.

With all these key points, Bandhan Bank has seen a rally of almost 29 per cent in the last five days to reach its 52-week high of Rs.713.6 per share. This has made us curious to look into the funds which are expected to earn more with this rally. So we analysed all the mutual funds who hold the stock of Bandhan Bank.

According to our analysis, below-mentioned funds have the highest amount invested in the stock of the Bandhan Bank.

Axis Long-Term Equity Fund, which is an ELSS by category has invested the highest amount of Rs. 560 crore by employing around 3.2 per cent. Also, there are 29 funds in total who have invested in the stock of Bandhan Bank for more than Rs. 15 crores. With the positive rally and promising outlook for the bank, we see that these funds are expected to benefit from their holdings in the stock, going ahead.