Do you have MF scheme holding IRCTC shares
The equity market world over is witnessing one of the deepest cut in the shortest period. There are various reasons that could be attributed to this; however, what triggered this fall was the spread of Coronavirus. It has the potential to hit every sector of the economy. Nonetheless, one of the sectors that would be hit hardest is the companies involved in travel and tourism. Hence, we see that the share price of some of the airline companies is down by more than 30 per cent in less than 15 days.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) do not remain immune to it. After more than quadruple from its IPO price of Rs 320 at the end of October 14, to Rs 1,995 on February 24, the stock price is in a downturn. There are only sell orders and no buy orders. The stock is down by 39 per cent from its peak.
In addition to direct investors, there are also indirect investors, who have invested through mutual funds, will feel the impact. Following are the funds that have invested in the shares of IRCTC. According to the data at the end of January 2020, Invesco India PSU Equity Fund will get impacted most. It has an exposure to the tune of 10.53 per cent of its total asset under management. So, every 10 per cent fall in the price of IRCTC will lower the return of the fund by one per cent.
Funds with the highest exposure to IRCTC at the end of January 2020
| Fund Name |
Fund Manager |
AUM (in Rs. cr) Jan-20 |
% of AUM Jan-20 |
No. of Shares Jan-20 |
| Invesco India PSU Equity Fund(G) |
Pranav Gokhale |
134.2 |
10.53 |
116731 |
| SBI PSU Fund-Reg(G) |
Richard Dsouza |
185.9 |
7.49 |
115000 |
| Invesco India Infrastructure Fund(G) |
Pranav Gokhale |
43.1 |
5.5 |
19609 |
| Invesco India Smallcap Fund-Reg(G) |
Taher Badshah |
522.3 |
4.52 |
194952 |
| Taurus Infrastructure Fund-Reg(G) |
Prasanna Pathak |
4 |
3.62 |
1200 |
| Canara Rob Consumer Trends Fund-Reg(G) |
Cheenu Gupta |
387.5 |
3.5 |
112000 |
| Canara Rob Equity Tax Saver Fund-Reg(G) |
Cheenu Gupta |
1032.5 |
3.43 |
292500 |
| Invesco India Midcap Fund(G) |
Pranav Gokhale |
756.3 |
3.2 |
199771 |
| Nippon India Focused Equity Fund(G) |
Vinay Sharma |
4277.9 |
2.85 |
1007691 |
| PGIM India Midcap Opp Fund-Reg(G) |
Aniruddha Naha |
151 |
2.81 |
35000 |
| Canara Rob Infrastructure Fund-Reg(G) |
Shridatta Bhandwaldar |
111.1 |
2.61 |
24000 |
| Edelweiss Maiden Opp Fund-1-Reg(G) |
Bhavesh Jain |
363.2 |
2.47 |
74146 |
| Canara Rob Equity Diver Fund-Reg(G) |
Shridatta Bhandwaldar |
1727.7 |
2.4 |
342500 |
| Canara Rob Emerg Equities Fund-Reg(G) |
Miyush Gandhi |
5625.5 |
2.35 |
1094500 |
| Sundaram Small Cap Fund(G) |
S. Krishnakumar |
1149.2 |
2.06 |
195793 |
| Canara Rob Small Cap Fund-Reg(G) |
Cheenu Gupta |
396.3 |
1.99 |
65000 |
| Canara Rob Bluechip Equity Fund-Reg(G) |
Shridatta Bhandwaldar |
330.2 |
1.98 |
54000 |
| Canara Rob Equity Hybrid Fund-Reg(G) |
Shridatta Bhandwaldar |
3000.4 |
1.83 |
454392 |
| Principal Retirement Savings Fund-Prog(G) |
Ravi Gopalakrishnan |
2.3 |
1.73 |
332 |
| Principal Multi Cap Growth Fund(G) |
Ravi Gopalakrishnan |
722.6 |
1.69 |
100880 |
| Sundaram Services Fund-Reg(G) |
S. Krishnakumar |
1303.5 |
1.67 |
180000 |
| BOI AXA Small Cap Fund-Reg(G) |
Ajay Khandelwal |
50.9 |
1.64 |
6886 |
| Canara Rob Conservative Hybrid Fund-Reg(G) |
Avnish Jain |
224.3 |
1.52 |
28145 |
| Principal Emerging Bluechip Fund(G) |
Ravi Gopalakrishnan |
2202.1 |
1.41 |
256185 |
| Principal Hybrid Equity Fund(G) |
Ravi Gopalakrishnan |
1370.7 |
1.37 |
155000 |
| Invesco India Tax Plan(G) |
Amit Ganatra |
1025.6 |
1.31 |
111178 |
| Principal Small Cap Fund-Reg(G) |
Ravi Gopalakrishnan |
177.8 |
1.29 |
19000 |
| Invesco India Multicap Fund(G) |
Taher Badshah |
899.6 |
1.26 |
93672 |
| Canara Rob Dual Adv Fund-Sr-1-Reg(G) |
Cheenu Gupta |
422.5 |
1.18 |
41052 |
| Taurus Discovery (Midcap) Fund-Reg(G) |
Prasanna Pathak |
52.1 |
1.18 |
5070 |
| Taurus Starshare (Multi Cap) Fund-Reg(G) |
Prasanna Pathak |
226.9 |
1.13 |
21138 |
| Invesco India Contra Fund(G) |
Taher Badshah |
4750.9 |
1.11 |
434090 |
| Principal Tax Savings Fund |
Sudhir Kedia |
409 |
1.1 |
37164 |
| Principal Personal Tax saver Fund |
Sudhir Kedia |
253.9 |
1.1 |
23003 |
If we analyse the fund house-wise, the fund from Invesco AMC has the largest exposure followed by Canara Robeco.