February 19, 2021 × The recent run-up in cyclical stocks and PSUs has turned out to be a money-spinner for most leading mutual funds which have turned bullish on these stocks since last October. For instance, ICICI Prudential Mutual Fund had bought NTPC, ONGC and GAIL among others stocks since late last year. From a low of ₹65 in October, ONGC has almost doubled to ₹111 while NTPC and GAIL were up 17 per cent and 68 per cent to ₹103 and ₹143 a share. ICICI Prudential Equity & Debt Fund, Multi-Asset Fund and India Opportunities Fund had an exposure of 5-6 per cent to ONGC. Similarly, these schemes have exposure of 7-9.2 per cent towards NTPC. Many schemes of HDFC Asset Management Company, Nippon India MF and Franklin Templeton India had turned positive on cyclical stocks.