NJ Flexi Cap Fund
The fund is heavily tilted toward defensive, dividend-yielding sectors—pharmaceuticals alone represent over one-fifth of the portfolio—signaling a preference for stability over growth. The recent portfolio churn, particularly the addition of quality pharma names like Torrent and exits from consumer leaders like HUL, suggests the manager is rotating toward resilient businesses with stronger pricing power. The sharp accumulation in ITC and energy alongside reduced exposure to high-volatility sectors indicates conviction in value plays that can weather economic uncertainty.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹13.0500 | — | — | — | — | — | — |
| Regular Growth | ₹12.5100 | +2.12% | -4.06% | -6.08% | -3.77% | — | — |
| Direct IDCW | ₹13.0500 | — | — | — | — | — | — |
| Regular IDCW | ₹12.5100 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Torrent Pharmaceuticals Limited | 3.50% |
| Alkem Laboratories Limited | 3.43% |
| Colgate Palmolive (India) Limited | 1.67% |
| Emami Limited | 1.62% |
| Havells India Limited | 1.53% |
| Indiamart Intermesh Limited | 1.51% |
| JB Chemicals & Pharmaceuticals Limited | 1.30% |
| ABB India Limited | 0.86% |
| Hindustan Aeronautics Limited | 0.86% |
| Net Receivables / (Payables) | -1.66% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Britannia Industries Limited INE216A01030 | 4.53% |
| 2 | Eicher Motors Limited INE066A01021 | 4.20% |
| 3 | Marico Limited INE196A01026 | 4.18% |
| 4 | ITC Limited INE154A01025 | 4.03% |
| 5 | ICICI Bank Limited INE090A01021 | 3.99% |
| 6 | Bosch Limited INE323A01026 | 3.99% |
| 7 | Oil & Natural Gas Corporation Limited INE213A01029 | 3.94% |
| 8 | Dr. Reddy's Laboratories Limited INE089A01031 | 3.59% |
| 9 | Cipla Limited INE059A01026 | 3.55% |
| 10 | Torrent Pharmaceuticals Limited INE685A01028 | 3.50% |
| 11 | Sun Pharmaceutical Industries Limited INE044A01036 | 3.46% |
| 12 | Alkem Laboratories Limited INE540L01014 | 3.43% |
| 13 | Dr. Lal Path Labs Limited INE600L01024 | 3.39% |
| 14 | Nestle India Limited INE239A01024 | 3.17% |
| 15 | HDFC Bank Limited INE040A01034 | 2.54% |
| 16 | Pidilite Industries Limited INE318A01026 | 2.47% |
| 17 | Hero MotoCorp Limited INE158A01026 | 2.42% |
| 18 | Page Industries Limited INE761H01022 | 2.42% |
| 19 | Clearing Corporation of India Ltd nan | 2.38% |
| 20 | Ajanta Pharma Limited INE031B01049 | 1.91% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.