Nippon India Multicap Fund
The manager maintains a balanced multi-cap approach with a pronounced tilt toward financials and quality defensive sectors, particularly banks which dominate at nearly 15 percent of the portfolio. Recent moves signal renewed conviction in traditional value plays—notably adding Sun Pharma and insurance exposure while trimming speculative growth bets like Meesho—suggesting a shift toward stable earnings over momentum. The concentrated top-10 holding of 29 percent, anchored by banking heavyweights, indicates confidence in India's credit cycle while the broad 127-stock base mitigates single-name risk.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Regular Growth | ₹291.5549 | +1.69% | — | — | — | — | — |
| Regular Growth | ₹291.5549 | +1.69% | -2.04% | -4.00% | +2.75% | +18.67% | +20.69% |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Sun Pharmaceutical Industries Limited | 0.60% |
| Blue Star Limited | 0.40% |
| ICICI Prudential Life Insurance Company Limited | 0.34% |
| Balkrishna Industries Limited | 0.25% |
| Cholamandalam Investment and Finance Company Ltd | 0.23% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Limited INE040A01034 | 6.16% |
| 2 | ICICI Bank Limited INE090A01021 | 4.10% |
| 3 | Axis Bank Limited INE238A01034 | 3.41% |
| 4 | GE Vernova T&D India Limited INE200A01026 | 2.57% |
| 5 | Infosys Limited INE009A01021 | 2.57% |
| 6 | NTPC Limited INE733E01010 | 2.26% |
| 7 | Linde India Limited INE473A01011 | 2.12% |
| 8 | Reliance Industries Limited INE002A01018 | 2.06% |
| 9 | Max Financial Services Limited INE180A01020 | 2.00% |
| 10 | Larsen & Toubro Limited INE018A01030 | 1.90% |
| 11 | ITC Limited INE154A01025 | 1.68% |
| 12 | Tata Power Company Limited INE245A01021 | 1.66% |
| 13 | Bajaj Finance Limited INE296A01032 | 1.59% |
| 14 | Samvardhana Motherson International Limited INE775A01035 | 1.51% |
| 15 | FSN E-Commerce Ventures Limited INE388Y01029 | 1.51% |
| 16 | Vesuvius India Limited INE386A01023 | 1.49% |
| 17 | Swiggy Limited INE00H001014 | 1.37% |
| 18 | Hitachi Energy India Limited INE07Y701011 | 1.24% |
| 19 | State Bank of India INE062A01020 | 1.23% |
| 20 | Voltas Limited INE226A01021 | 1.23% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.