HDFC Mutual Fund has upped its position in Axis Bank by 5 basis points, to 5.02 per cent from 4.97 per cent, indicating the fund house’s trust in the bank’s development prospects.
In a statement issued on Wednesday, January 8, the fund house stated that “the aggregate holdings of HDFC Mutual Fund in Axis Bank at the close of business hours on January 6, 2025, was 5.02 per cent of the paid-up share capital of the company.”
Before the acquisition, HDFC Mutual Fund had 15,38,45,705 shares of Axis Bank, representing a 4.97 per cent holding. After the acquisition, HDFC Mutual Fund owns 15,53,35,021 shares, representing a 5.02 per cent position.
Axis Bank shareholding pattern data
According to BSE shareholding pattern data, HDFC held 13,06,05,045 shares of Axis Bank through its different mutual fund schemes at the end of the September quarter of the current fiscal year, representing a 4.42 per cent position. This means that HDFC significantly expanded its stake in Axis Bank during the December quarter. The December quarter shareholding pattern data has yet to be revealed.
According to the September quarter shareholding pattern data, Axis Bank was owned by numerous big fund companies, including SBI, Nippon, Kotak, ICICI Prudential, UTI, and Mirae Asset, in addition to HDFC.
During the September quarter, mutual funds collectively held 75,57,54,482 shares of Axis Bank, representing a 25.60 per cent position.
Axis Bank share price trend
Axis Bank shares have been under pressure for the past year. They have fallen by more than 4% in recent years. The stock reached a 52-week low of ₹995.95 on April 19 and a 52-week high of ₹1,339.55 on July 12 last year.
Every month, the stock is up around half a per cent in January after declining for the previous three months.
Axis Bank will report its December quarter (Q3) earnings on Thursday, January 16.
