Amid IRCTC stock price drop, equity schemes' net asset value takes a hit

Equity funds collectively held Rs 2,879 cr worth of IRCTC shares at the end of September

The over 16 per cent slump in shares of Indian Railway Catering and Tourism Corporation (IRCTC) has made a dent in the net asset values (NAVs) of several mutual fund (MF) equity schemes.

Equity funds collectively held Rs 2,879 crore worth of IRCTC shares at the end of September, shows data provided by Value Research.

Nearly 2.5 per cent, or Rs 295 crore, worth of Nippon India Growth Fund's corpus is deployed in IRCTC. For Motilal Oswal Midcap 30 Fund it is nearly 9 per cent, or Rs 213 crore. To be sure, the figures are as on September. The