On any discussion on financial matters, you will always see the arguments on Mutual Fund vs Direct Stock, be it at a lunch table or at a tea and/or sutta break. Neither side is wrong here, they both cater to the different set of people. It’s not easy to win the argument on any side.
ELSS stands for Equity Linked Savings Scheme. ELSS schemes are equity mutual fund schemes approved by SEBI for tax benefits under 80C for invested amount. Such schemes are meant to encourage people to participate in market appreciation instead of stashing money in fixed maturity or insurance product with investment objectives.