Nippon India Equity Savings Fund
The fund maintains a defensive hybrid posture with heavy banking concentration (25%) anchoring equity exposure, while government securities and repo instruments cushion downside. Recent shifts reveal the manager rotating out of capital-intensive plays like L&T toward higher-quality, defensive consumer and financial names, signaling caution on cyclical momentum despite maintaining near-benchmark equity allocation. The elevated cash buffer alongside new entries in retail and power suggests opportunistic positioning for selective bottoming in selective sectors rather than broad market conviction.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹17.9677 | — | — | — | — | — | — |
| Direct Growth | ₹17.9677 | — | — | — | — | — | — |
| Regular Growth | ₹16.1688 | — | — | — | — | — | — |
| Regular Growth | ₹16.1688 | -0.56% | -1.59% | -0.59% | +2.49% | +6.71% | +7.19% |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| IndusInd Bank Limited | 1.07% |
| Trent Limited | 0.34% |
| Asian Paints Limited | 0.29% |
| Vedanta Aluminium Metal Limited** | 0.52% |
| Talwandi Sabo Power Limited** | 0.05% |
| Malco Energy Limited** | 0.05% |
| Vedanta Iron And Steel Limited** | 0.03% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 8.45% |
| 2 | HDFC Bank Limited INE040A01034 | 6.72% |
| 3 | ICICI Bank Limited_26/05/2026 | 5.96%(der) |
| 4 | Bharti Airtel Limited INE397D01024 | 5.56% |
| 5 | Mahindra & Mahindra Limited INE101A01026 | 5.24% |
| 6 | Reliance Industries Limited INE002A01018 | 5.15% |
| 7 | HDFC Bank Limited_26/05/2026 | 4.56%(der) |
| 8 | Bharti Airtel Limited_26/05/2026 | 4.48%(der) |
| 9 | 7.32% Government of India IN0020230135 | 4.20% |
| 10 | Mahindra & Mahindra Limited_26/05/2026 | 4.18%(der) |
| 11 | Kotak Mahindra Bank Limited_26/05/2026 | 4.15%(der) |
| 12 | Kotak Mahindra Bank Limited INE237A01036 | 4.12% |
| 13 | Eternal Limited INE758T01015 | 3.95% |
| 14 | Triparty Repo | 3.79% |
| 15 | Eternal Limited_26/05/2026 | 3.42%(der) |
| 16 | Reliance Industries Limited_26/05/2026 | 3.01%(der) |
| 17 | Axis Bank Limited INE238A01034 | 2.85% |
| 18 | Grasim Industries Limited INE047A01021 | 2.61% |
| 19 | 7.26% Government of India IN0020220151 | 2.38% |
| 20 | Grasim Industries Limited_26/05/2026 | 2.17%(der) |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.