HDFC Bank is winning the mutual fund vote over ICICI Bank. Can the shift last?
- Posted on September 17, 2026
- By Business News Today
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- 1 min read
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HDFC Bank is winning the mutual fund vote over ICICI Bank. Can the shift last?
HDFC Banks stock has fallen 27% in 2026, while ICICI Bank has gained 1.6%. Yet mutual funds have increasingly favoured HDFC Bank, adding to the laggard while trimming ICICI Bank. By August-end, ICICI Bank remained the larger mutual-fund holding, but the recent flow pattern signals a shift in preference as investors assess HDFC Banks valuation and recovery potential.
