Nippon India Large Cap Fund
The fund remains heavily weighted toward banking majors, which collectively represent a quarter of assets, signaling conviction in financial sector resilience. Notable this month is a strategic pivot toward power and metals through fresh positions in Vedanta subsidiaries and renewable infrastructure play GE Vernova, suggesting the manager is rotating toward energy transition themes while trimming exposure to cyclical sectors like cement and aviation. The modest 3.6% cash position and concentrated top-10 holding of 43.6% reflect a confident, stock-picker approach with limited defensive flexibility.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹86.5264 | -1.10% | -6.58% | -7.55% | -1.30% | +14.39% | +16.15% |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| United Spirits Limited | 0.22% |
| Vedanta Aluminium Metal Limited** | 0.40% |
| Talwandi Sabo Power Limited** | 0.04% |
| Malco Energy Limited** | 0.04% |
| Vedanta Iron And Steel Limited** | 0.03% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Limited INE040A01034 | 9.24% |
| 2 | ICICI Bank Limited INE090A01021 | 7.99% |
| 3 | Reliance Industries Limited INE002A01018 | 4.30% |
| 4 | Axis Bank Limited INE238A01034 | 3.83% |
| 5 | Bajaj Finance Limited INE296A01032 | 3.63% |
| 6 | Larsen & Toubro Limited INE018A01030 | 3.42% |
| 7 | GE Vernova T&D India Limited INE200A01026 | 2.90% |
| 8 | Infosys Limited INE009A01021 | 2.77% |
| 9 | Net Current Assets | 2.75% |
| 10 | ITC Limited INE154A01025 | 2.74% |
| 11 | Hindustan Unilever Limited INE030A01027 | 2.61% |
| 12 | Avenue Supermarts Limited INE192R01011 | 2.48% |
| 13 | Maruti Suzuki India Limited INE585B01010 | 2.47% |
| 14 | State Bank of India INE062A01020 | 2.39% |
| 15 | Tata Consultancy Services Limited INE467B01029 | 2.39% |
| 16 | Mahindra & Mahindra Limited INE101A01026 | 2.39% |
| 17 | NTPC Limited INE733E01010 | 2.16% |
| 18 | Sun Pharmaceutical Industries Limited INE044A01036 | 2.13% |
| 19 | Tata Power Company Limited INE245A01021 | 1.94% |
| 20 | Kotak Mahindra Bank Limited INE237A01036 | 1.49% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.