Helios Mutual Fund’s Flexi Cap Fund made focused additions in June, deploying nearly Rs 150 crore across four new investments — Siemens Energy India, Vishal Mega Mart, Niva Bupa Health Insurance, and Swiggy. The selections reflect a bottom-up approach, with the fund seeking stock-specific opportunities across themes such as energy transition, value retail, insurance, and new-age consumer tech.
The fund also increased exposure to existing names like Bajaj Finance, DLF, Delhivery, NBCC, Motilal Oswal Financial Services, and Hitachi Energy India.
On the flip side, Helios pared its holdings in State Bank of India, and fully exited BLS International Services and Federal Bank.
Currently, the top five holdings of the Helios Flexi Cap Fund include Adani Ports, ICICI Bank, HDFC Bank, Bajaj Finance and Eternal (formerly Zomato) , which together make up 13 percent of total assets. The fund managed assets worth Rs 3,471 crore as of June 2025.
Here are the four key additions made by the Helios Flexi Cap Fund in June, and what analysts are saying about them:
Helios invested Rs 54.06 crore to buy 18.16 lakh shares of Siemens Energy India, making it the fund’s largest new addition for the month. The stock now forms 1.56% of the fund's net assets and has gained around 13% since listing on June 19 after being demerged from Siemens India.
Analyst View: Following the demerger, Siemens Energy India offers a focused play on grid automation, transmission, and clean energy technologies, areas expected to benefit from India’s power sector capex. JM Financial initiated coverage with a 'Buy' rating and a target price of Rs 6,200, citing a robust Rs 19,000 crore order book and margin visibility. Jefferies expects strong operating leverage and a 30% revenue CAGR through FY27. HDFC Institutional Equities sees long-term value in its exclusive regional rights and clean energy offerings like hydrogen-powered turbines and battery storage.
The fund allocated Rs 44.85 crore to acquire 33.47 lakh shares of Vishal Mega Mart, now comprising 1.29% of its net assets. The stock has risen nearly 14% over the past month.
Analyst View: Brokerages view Vishal Mega Mart as a high-quality retail play in underpenetrated markets. Its strength in private labels and disciplined store-level economics make it a structurally attractive pick. JP Morgan has an 'Overweight' rating and a target of Rs 133, citing the company's expanding footprint in Tier-II and Tier-III cities. Elara Capital estimates an 18.4% revenue CAGR through FY28, backed by strong execution and inventory management.
The fund invested Rs 23.7 crore for 29.01 lakh shares of Niva Bupa, making up 0.68% of the portfolio. The insurer has delivered a 10% return in the past month. This is the fund's third exposure to insurance, alongside HDFC Life and ICICI Lombard.
Analyst View: Niva Bupa’s growth in standalone health insurance and strong momentum in group policies are attracting attention. Kotak Institutional Equities noted a 36% YoY rise in gross written premium in Q4FY25, with efficiency gains reflected in a lower claims ratio and reduced expenses. Distribution via broker and bancassurance channels has also picked up.
4. Swiggy
The fund added Swiggy by investing Rs 17.2 crore to purchase 46,220 shares. Swiggy now constitutes 0.53% of the AUM. The stock has declined 8% over the past month.
Analyst View: Despite short-term underperformance, Swiggy continues to be seen as a long-term growth story in food delivery and quick commerce. Elara Capital remains constructive on the name, expecting narrowing losses. JM Financial has a 'Buy' rating but flags Instamart losses as a concern. Anand Rathi highlights healthy GOV growth in food delivery and strong brand recall in urban markets.
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