HDFC Bank crashes 9% in one day. Which mutual funds have highest exposure to this stock in February

The shares of HDFC Bank crashed nearly 9% on Thursday to hit the day’s low of Rs 770 on NSE amid leadership concerns after part-time Chairman and independent director Atanu Chakraborty stepped down, stating that he observed certain practices at the company over the last two years that did not align with his personal values and ethics.

In his resignation letter, Chakraborty said that certain developments and practices within the bank over the past two years did not align with his personal values and ethics. “This is the basis of my aforementioned decision,” he wrote.

As of February 27, 2026, mutual funds held nearly 359 crore shares of this stock, with a market value of Rs 3.19 lakh crore, in their portfolios before this crash. Around 25 AMCs had over 1 crore shares and, among these, 10 AMCs had over 10 crore shares.


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SBI Mutual Fund had the highest allocation in HDFC Bank, with 79.47 crore shares in its portfolio in February. ICICI Prudential Mutual Fund and HDFC Mutual Fund had 51.91 crore and 38.82 crore shares, respectively.

PPFAS Mutual Fund had 12.40 crore shares of HDFC Bank in its portfolio, with a market value of Rs 11,009 crore. Edelweiss Mutual Fund and Quant Mutual Fund had 2.97 crore and 2.62 crore shares, respectively.

WhiteOak Capital Mutual Fund had 1.64 crore shares in its portfolio in February. Samir Arora-led Helio Mutual Fund had 41.29 lakh shares of this stock in its portfolio.

JioBlackRock Mutual Fund, a new entrant in the mutual fund industry, had 31.72 lakh shares of this stock in its portfolio, with a market value of Rs 281 crore. Sunil Singhania-led Abakkus Mutual Fund had 18 lakh shares of HDFC Bank, followed by Quantum Mutual Fund, which had 15.29 lakh shares in its portfolio.

iSIF by ICICI Prudential Mutual Fund had 10.56 lakh shares of HDFC Bank in its portfolio, followed by Magnum SIF by SBI Mutual Fund, which had 10.2 lakh shares.

Altiva SIF and Diviniti SIF had 2.79 lakh and 2.49 lakh shares, respectively, of HDFC Bank. Arudha SIF had 5,500 shares of this stock.

QSIF and Titanium SIF exited this stock in February by selling 6.27 lakh shares and 1.45 lakh shares, respectively.

As of January 31, 2026, mutual funds held 351 crore shares of HDFC Bank in their portfolios and added 7.90 crore shares on a monthly basis.

We considered all mutual funds that had exposure to this stock. Note: ETFs invest in stocks that are part of the underlying index.

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Chakraborty joined HDFC Bank’s board in May 2021. He previously served as Secretary in the Ministry of Finance, was an alternate governor on the World Bank Board, and also chaired the National Infrastructure Investment Fund. He is a Gujarat cadre IAS officer.

Keki Mistry, meanwhile, has been appointed as an interim part-time Chairman for a period of three months, as approved by the RBI.

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