Abakkus Flexi Cap Fund Increases Stake in HDFC Bank, RIL, and 26 Other Stocks Abakkus Flexi Cap Fund, which is backed by Sunil Singhania, increased its holdings in HDFC Bank, Reliance Industries (RIL), and 26 other stocks during February 2026. The fund added the most shares in Bank of Baroda, expanding its portfolio to 44 stocks across 22 sectors. The total number of shares in Bank of Baroda rose to 26 lakh in February, up from 17.50 lakh in January. The fund’s portfolio saw additions of around 3.30 lakh shares of HDFC Bank and 1.48 lakh shares of RIL in February. Among the 28 stocks in which the fund increased its stake, Bank of Baroda received the highest number of shares, with 8.50 lakh added to its holdings. The fund did not reduce its stake in any stock or make a complete exit from any position during the month. Two new stocks were added to the portfolio in February: BEML and Fractal Analytics. The fund acquired approximately 1.83 lakh shares of BEML and 1.66 lakh shares of Fractal Analytics. These additions reflect the fund’s continued diversification across sectors and its focus on expanding its holdings in key financial and industrial companies. The Abakkus Flexi Cap Fund’s strategy of increasing stakes in major corporations like HDFC Bank and RIL highlights its confidence in the performance of these stocks. The fund’s actions also indicate a broader trend of institutional investors allocating capital to large-cap and mid-cap stocks amid evolving market conditions. The expansion of the portfolio to 44 stocks underscores the fund’s approach to balancing risk and growth across multiple sectors.#bank_of_baroda #reliance_industries #hdfc_bank #abakkus_flexi_cap_fund #sunil_singhania
Summary of the Fraud Case Involving Reliance Communications and Punjab National Bank (PNB): Punjab National Bank (PNB) has accused Reliance Communications of fraudulent activities, alleging misuse of funds from a loan sanctioned to the company. The bank's forensic audit, conducted by BD India LLP in February 2021, flagged the accounts as fraudulent. Key findings include: Misuse of Loan Funds: The audit suggested that the loan funds were misused, with transactions involving related parties and discrepancies in financial records. Investigators suspect criminal breach of trust and fraudulent activities (e.g., embezzlement or unauthorized transactions). PNB's Actions: PNB identified the accounts as fraudulent after the forensic audit, indicating potential legal action against Reliance Communications. The bank's report highlights irregularities in fund allocation and transactions, raising concerns about the company's financial practices. Legal Implications: The case could lead to criminal charges under Indian law, including sections related to breach of trust, fraud, and misappropriation. Reliance Communications may face penalties, legal proceedings, or reputational damage if the allegations are proven. Context: Reliance Communications, a subsidiary of Reliance Industries, has faced scrutiny over financial practices in the past. This case adds to ongoing concerns about corporate transparency and accountability. Status: The case remains under investigation, with PNB likely to pursue legal action. Further details on the outcome or resolution are pending. This case underscores the importance of rigorous financial audits and corporate accountability in preventing and addressing fraudulent activities.#punjab_national_bank #reliance_communications #bd_india_llp #reliance_industries #forensic_audit
