NIPPON INDIA SMALL CAP FUND

Nippon India Mutual FundEquityPortfolio as of 31 July 2026

NIPPON INDIA SMALL CAP FUND holds 254 instruments (97.26% equity), led by HDFC Bank Limited (1.89%), Bharat Heavy Electricals Limited (1.78%) and Apar Industries Limited (1.53%), as of its 31 July 2026 SEBI-mandated monthly disclosure.

Holdings

254

Equity Allocation

97.26%

AMC

Nippon India Mutual Fund

Portfolio Analysis

NIPPON INDIA SMALL CAP FUND's top 10 holdings account for 13.79% of its portfolio, more diversified than the Equity category average of 37.5%. Industrials is its largest sector exposure at 22.37% of net assets, spread across 13 sectors in total. Since its 30 June 2026 disclosure, the fund added 11 new positions and exited 11 positions, with Union Bank of India seeing the largest move (+0.51pp to 0.84%).

Top 10 Equity Holdings

HDFC Bank Limited · 1.89%Bharat Heavy Electricals Limited · 1.78%Apar Industries Limited · 1.53%Karur Vysya Bank Limited · 1.38%TD Power Systems Limited · 1.38%State Bank of India · 1.3%Zydus Wellness Limited · 1.25%Acme Solar Holdings Limited · 1.12%Sai Life Sciences Limited · 1.09%Kirloskar Brothers Limited · 1.07%

What Changed: June 2026 → July 2026

Equity holdings compared between the fund's two latest monthly disclosures. Weights are % to NAV; weight moves can also reflect price changes, not only buying or selling.

11 new entries11 exits9 increased10 reduced

Biggest Weight Increases

Stock	Weight	Change
Union Bank of India	0.33% → 0.84%	▲ +0.51
eClerx Services Limited	0.58% → 0.81%	▲ +0.23
BlueStone Jewellery and Lifestyle Limited	0.41% → 0.61%	▲ +0.2
Karur Vysya Bank Limited	1.2% → 1.38%	▲ +0.18
JSW Cement Limited	0.22% → 0.34%	▲ +0.12
Bharat Electronics Limited	0.19% → 0.31%	▲ +0.12
KPIT Technologies Limited	0.08% → 0.18%	▲ +0.1
Dixon Technologies (India) Limited	0.56% → 0.66%	▲ +0.1
AWL Agri Business Limited	0.53% → 0.63%	▲ +0.1

Biggest Weight Reductions

Stock	Weight	Change
Kirloskar Pneumatic Company Limited	1.02% → 0.77%	▼ -0.25
Mtar Technologies Limited	0.9% → 0.69%	▼ -0.21
Apar Industries Limited	1.71% → 1.53%	▼ -0.18
NTPC Limited	0.34% → 0.18%	▼ -0.16
TD Power Systems Limited	1.53% → 1.38%	▼ -0.15
HDFC Bank Limited	2.03% → 1.89%	▼ -0.14
Elantas Beck India Limited	0.91% → 0.79%	▼ -0.12
Kirloskar Brothers Limited	1.19% → 1.07%	▼ -0.12
Axis Bank Limited	1.03% → 0.93%	▼ -0.1
Tube Investments of India Limited	0.97% → 0.87%	▼ -0.1

Top Holdings — Weight Trend

% to NAV of the fund's current top holdings over its last 6 monthly disclosures (Feb – Jul 2026).

HDFC Bank Limited

1.89%

Bharat Heavy Electricals Limited

1.78%

Apar Industries Limited

1.53%

Karur Vysya Bank Limited

1.38%

TD Power Systems Limited

1.38%

Full Portfolio (254 holdings)

#	Holding	Sector	% to NAV
1	Triparty Repotreps	—	2.4%
2	HDFC Bank Limited	Financial Services	1.89%
3	Bharat Heavy Electricals Limited	Industrials	1.78%
4	Apar Industries Limited	Industrials	1.53%
5	Karur Vysya Bank Limited	Financial Services	1.38%
6	TD Power Systems Limited	Industrials	1.38%
7	State Bank of India	Financial Services	1.3%
8	Zydus Wellness Limited	Consumer Staples	1.25%
9	Acme Solar Holdings Limited	Utilities	1.12%
10	Sai Life Sciences Limited	Healthcare	1.09%
11	Kirloskar Brothers Limited	Industrials	1.07%
12	Sundram Fasteners Limited	Consumer Discretionary	1.02%
13	NLC India Limited	Utilities	1.02%
14	Multi Commodity Exchange of India Limited	Financial Services	0.95%
15	Kirloskar Oil Engines Limited	Industrials	0.94%
16	Axis Bank Limited	Financial Services	0.93%
17	Aster DM Healthcare Limited	Healthcare	0.91%
18	Radico Khaitan Limited	Consumer Staples	0.89%
19	Avalon Technologies Limited	Industrials	0.89%
20	Tube Investments of India Limited	Consumer Discretionary	0.87%
21	Emami Limited	Consumer Staples	0.85%
22	Union Bank of India	Financial Services	0.84%
23	Balrampur Chini Mills Limited	Consumer Staples	0.83%
24	eClerx Services Limited	Industrials	0.81%
25	Whirlpool of India Limited	Consumer Discretionary	0.81%
26	Voltamp Transformers Limited	Industrials	0.81%
27	Elantas Beck India Limited	Materials	0.79%
28	Kirloskar Pneumatic Company Limited	Industrials	0.77%
29	Craftsman Automation Limited	Consumer Discretionary	0.75%
30	Central Mine Planning & Design Institute Limited	Industrials	0.75%
31	Pfizer Limited	Healthcare	0.74%
32	Paradeep Phosphates Limited	Materials	0.73%
33	Ajanta Pharma Limited	Healthcare	0.73%
34	Mtar Technologies Limited	Industrials	0.69%
35	AstraZeneca Pharma India Limited	Healthcare	0.68%
36	Dixon Technologies (India) Limited	Consumer Discretionary	0.66%
37	TBO Tek Limited	Consumer Discretionary	0.66%
38	Delhivery Limited	Services	0.64%
39	AWL Agri Business Limited	Consumer Staples	0.63%
40	PNB Housing Finance Limited	Financial Services	0.63%
41	Omnitech Engineering Limited	Industrials	0.63%
42	Vardhman Textiles Limited	Consumer Discretionary	0.63%
43	Krishna Institute of Medical Sciences Limited	Healthcare	0.62%
44	Rategain Travel Technologies Limited	Information Technology	0.62%
45	BlueStone Jewellery and Lifestyle Limited	Consumer Discretionary	0.61%
46	MAS Financial Services Limited	Financial Services	0.61%
47	Syngene International Limited	Healthcare	0.61%
48	Esab India Limited	Industrials	0.6%
49	The Ramco Cements Limited	Materials	0.59%
50	Kalpataru Projects International Limited	Industrials	0.59%
51	HDFC Life Insurance Company Limited	Financial Services	0.59%
52	Procter & Gamble Health Limited	Healthcare	0.58%
53	Gland Pharma Limited	Healthcare	0.58%
54	Asahi India Glass Limited	Consumer Discretionary	0.57%
55	Orkla India Limited	Consumer Staples	0.57%
56	Physicswallah Limited	Consumer Discretionary	0.56%
57	Gokaldas Exports Limited	Consumer Discretionary	0.56%
58	Hindustan Unilever Limited	Consumer Staples	0.55%
59	Timken India Limited	Industrials	0.55%
60	Navin Fluorine International Limited	Materials	0.54%
61	REC Limited	Financial Services	0.54%
62	Carborundum Universal Limited	Industrials	0.54%
63	Aditya Birla Sun Life AMC Limited	Financial Services	0.53%
64	Astra Microwave Products Limited	Industrials	0.52%
65	Affle 3i Limited	Information Technology	0.52%
66	Hindustan Aeronautics Limited	Industrials	0.51%
67	Century Plyboards (India) Limited	Consumer Discretionary	0.51%
68	TATA CONSUMER PRODUCTS LIMITED	Consumer Staples	0.5%
69	United Spirits Limited	Consumer Staples	0.5%
70	ICRA Limited	Financial Services	0.5%
71	Crompton Greaves Consumer Electricals Limited	Consumer Discretionary	0.5%
72	Lumax Auto Technologies Limited	Consumer Discretionary	0.49%
73	Grindwell Norton Limited	Industrials	0.49%
74	Fine Organic Industries Limited	Materials	0.48%
75	Asian Paints Limited	Consumer Discretionary	0.48%
76	PVR INOX Limited	Consumer Discretionary	0.48%
77	Poonawalla Fincorp Limited	Financial Services	0.48%
78	Bajaj Consumer Care Limited	Consumer Staples	0.48%
79	Sona BLW Precision Forgings Limited	Consumer Discretionary	0.47%
80	Kfin Technologies Limited	Financial Services	0.47%
81	Isgec Heavy Engineering Limited	Industrials	0.47%
82	TSF INVESTMENTS LIMITED	Financial Services	0.47%
83	Jio Financial Services Limited	Financial Services	0.47%
84	K.P.R. Mill Limited	Consumer Discretionary	0.46%
85	Central Depository Services (India) Limited	Financial Services	0.43%
86	Blue Star Limited	Consumer Discretionary	0.43%
87	Jubilant Foodworks Limited	Consumer Discretionary	0.43%
88	RBL Bank Limited	Financial Services	0.42%
89	Kotak Mahindra Bank Limited	Financial Services	0.42%
90	Voltas Limited	Consumer Discretionary	0.42%
91	Billionbrains Garage Ventures Limited	Financial Services	0.41%
92	Shadowfax Technologies Limited	Services	0.41%
93	Power Finance Corporation Limited	Financial Services	0.4%
94	Healthcare Global Enterprises Limited	Healthcare	0.4%
95	Vedanta Aluminium Metal Limited	Diversified	0.4%
96	Sansera Engineering Limited	Consumer Discretionary	0.39%
97	Deepak Nitrite Limited	Materials	0.39%
98	Persistent Systems Limited	Information Technology	0.39%
99	Jtekt India Limited	Consumer Discretionary	0.38%
100	Galaxy Surfactants Limited	Materials	0.38%
101	Thyrocare Technologies Limited	Healthcare	0.38%
102	Finolex Cables Limited	Industrials	0.38%
103	ION Exchange (India) Limited	Utilities	0.38%
104	Orient Electric Limited	Consumer Discretionary	0.37%
105	Indigo Paints Limited	Consumer Discretionary	0.37%
106	The Indian Hotels Company Limited	Consumer Discretionary	0.37%
107	NIIT Learning Systems Limited	Consumer Discretionary	0.37%
108	Tata Power Company Limited	Utilities	0.37%
109	City Union Bank Limited	Financial Services	0.36%
110	Ambuja Cements Limited	Materials	0.36%
111	TTK Prestige Limited	Consumer Discretionary	0.36%
112	NTPC Green Energy Limited	Utilities	0.36%
113	Aarti Industries Limited	Materials	0.35%
114	Styrenix Performance Materials Limited	Materials	0.35%
115	JSW Cement Limited	Materials	0.34%
116	Linde India Limited	Materials	0.34%
117	Metropolis Healthcare Limited	Healthcare	0.34%
118	Adani Ports and Special Economic Zone Limited	Services	0.34%
119	Allied Blenders and Distillers Limited	Consumer Staples	0.33%
120	Sudarshan Chemical Industries Limited	Materials	0.33%
121	Torrent Pharmaceuticals Limited	Healthcare	0.33%
122	Tejas Networks Limited	Telecommunication	0.33%
123	Net Current Assetsother	—	0.33%
124	Samvardhana Motherson International Limited	Consumer Discretionary	0.32%
125	Exide Industries Limited	Consumer Discretionary	0.32%
126	CARE Ratings Limited	Financial Services	0.32%
127	Bharat Electronics Limited	Industrials	0.31%
128	Dr. Lal Path Labs Ltd.	Healthcare	0.31%
129	Aditya Birla Real Estate Limited	Real Estate	0.31%
130	Birla Corporation Limited	Materials	0.3%
131	Bayer Cropscience Limited	Materials	0.3%
132	Cyient Limited	Information Technology	0.3%
133	eMudhra Limited	Information Technology	0.3%
134	Belrise Industries Limited	Consumer Discretionary	0.29%
135	Clean Science and Technology Limited	Materials	0.29%
136	Kajaria Ceramics Limited	Consumer Discretionary	0.29%
137	Pine Labs Limited	Financial Services	0.29%
138	Data Patterns (India) Limited	Industrials	0.28%
139	Bharat Dynamics Limited	Industrials	0.28%
140	V.S.T Tillers Tractors Limited	Consumer Staples	0.28%
141	Genus Power Infrastructures Limited	Industrials	0.28%
142	Godrej Agrovet Limited	Consumer Staples	0.28%
143	PG Electroplast Limited	Consumer Discretionary	0.27%
144	LIC Housing Finance Limited	Financial Services	0.27%
145	Jyothy Labs Limited	Consumer Staples	0.27%
146	Aditya Birla Lifestyle Brands Limited	Consumer Discretionary	0.27%
147	CIE Automotive India Limited	Consumer Discretionary	0.26%
148	Schaeffler India Limited	Consumer Discretionary	0.25%
149	RITES Limited	Industrials	0.25%
150	Vindhya Telelinks Limited	Telecommunication	0.25%
151	Jindal Saw Limited	Industrials	0.25%
152	Sapphire Foods India Limited	Consumer Discretionary	0.25%
153	West Coast Paper Mills Limited	Materials	0.25%
154	Sun Pharmaceutical Industries Limited	Healthcare	0.25%
155	Fujiyama Power Systems Limited	Industrials	0.24%
156	Narayana Hrudayalaya Ltd.	Healthcare	0.24%
157	Honda India Power Products Limited	Industrials	0.24%
158	Castrol India Limited	Energy	0.24%
159	Afcons Infrastructure Limited	Industrials	0.23%
160	Vedanta Limited	Materials	0.23%
161	Sumitomo Chemical India Limited	Materials	0.23%
162	Chambal Fertilizers & Chemicals Limited	Materials	0.23%
163	Kaynes Technology India Limited	Industrials	0.23%
164	Leela Palaces Hotels & Resorts Limited	Consumer Discretionary	0.23%
165	CESC Limited	Utilities	0.23%
166	Aavas Financiers Limited	Financial Services	0.22%
167	FDC Limited	Healthcare	0.22%
168	ZF Commercial Vehicle Control Systems India Limited	Consumer Discretionary	0.21%
169	Landmark Cars Limited	Consumer Discretionary	0.21%
170	Harsha Engineers International Limited	Industrials	0.21%
171	Sandhar Technologies Limited	Consumer Discretionary	0.2%
172	Praj Industries Limited	Industrials	0.2%
173	Sanofi India Limited	Healthcare	0.2%
174	Computer Age Management Services Limited	Financial Services	0.19%
175	DOMS Industries Limited	Consumer Staples	0.19%
176	LG Balakrishnan & Bros Limited	Consumer Discretionary	0.18%
177	KPIT Technologies Limited	Information Technology	0.18%
178	Lemon Tree Hotels Limited	Consumer Discretionary	0.18%
179	NTPC Limited	Utilities	0.18%
180	DLF Limited	Real Estate	0.18%
181	Brigade Enterprises Limited	Real Estate	0.18%
182	Automotive Axles Limited	Consumer Discretionary	0.17%
183	UTI Asset Management Company Limited	Financial Services	0.17%
184	Canara Robeco Asset Management Company Limited	Financial Services	0.17%
185	Can Fin Homes Limited	Financial Services	0.17%
186	LMW Limited	Industrials	0.17%
187	Seamec Limited	Services	0.17%
188	Sharda Motor Industries Limited	Consumer Discretionary	0.16%
189	Coal India Limited	Energy	0.16%
190	CREDITACCESS GRAMEEN LIMITED	Financial Services	0.16%
191	Piramal Finance Limited	Financial Services	0.16%
192	Zensar Technologies Limited	Information Technology	0.16%
193	Texmaco Rail & Engineering Limited	Industrials	0.16%
194	Vesuvius India Limited	Industrials	0.16%
195	Elgi Equipments Limited	Industrials	0.16%
196	Sanofi Consumer Healthcare India Limited	Healthcare	0.16%
197	Swiggy Limited	Consumer Discretionary	0.16%
198	Escorts Kubota Limited	Consumer Staples	0.15%
199	H.G. Infra Engineering Limited	Industrials	0.15%
200	Rainbow Childrens Medicare Limited	Healthcare	0.15%
201	Just Dial Limited	Consumer Discretionary	0.15%
202	Divgi Torqtransfer Systems Limited	Consumer Discretionary	0.14%
203	Greenlam Industries Limited	Consumer Discretionary	0.14%
204	Triveni Turbine Limited	Industrials	0.14%
205	Bajel Projects Limited	Industrials	0.14%
206	Mishra Dhatu Nigam Limited	Industrials	0.13%
207	Equitas Small Finance Bank Limited	Financial Services	0.13%
208	G R Infraprojects Limited	Industrials	0.13%
209	Bajaj Electricals Limited	Consumer Discretionary	0.13%
210	Inox Wind Limited	Industrials	0.13%
211	Sonata Software Limited	Information Technology	0.13%
212	Venus Pipes & Tubes Limited	Industrials	0.13%
213	NIIT Limited	Consumer Discretionary	0.13%
214	Max Estates Limited	Real Estate	0.13%
215	Saatvik Green Energy Limited	Industrials	0.12%
216	India Shelter Finance Corporation Limited	Financial Services	0.12%
217	ICICI Prudential Life Insurance Company Limited	Financial Services	0.12%
218	Piramal Pharma Limited	Healthcare	0.12%
219	Cyient DLM Limited	Industrials	0.11%
220	Campus Activewear Limited	Consumer Discretionary	0.11%
221	BIRLASOFT LIMITED	Information Technology	0.11%
222	PNC Infratech Limited	Industrials	0.1%
223	Rishabh Instruments Limited	Industrials	0.1%
224	Subros Limited	Industrials	0.1%
225	RHI MAGNESITA INDIA LIMITED	Industrials	0.1%
226	Archean Chemical Industries Limited	Materials	0.09%
227	KEC International Limited	Industrials	0.09%
228	Kirloskar Ferrous Industries Limited	Materials	0.09%
229	Raymond Limited	Industrials	0.09%
230	Polyplex Corporation Limited	Industrials	0.09%
231	JK Lakshmi Cement Limited	Materials	0.08%
232	Pokarna Limited	Consumer Discretionary	0.08%
233	Urban Company Limited	Consumer Discretionary	0.08%
234	Raymond Lifestyle Limited	Consumer Discretionary	0.08%
235	Fineotex Chemical Limited	Materials	0.07%
236	Protean eGov Technologies Limited	Information Technology	0.07%
237	LOHIA CORP LTD	Industrials	0.07%
238	LASER POWER & INFRA LTD	Industrials	0.07%
239	Indoco Remedies Limited	Healthcare	0.07%
240	Go Fashion (India) Limited	Consumer Discretionary	0.07%
241	Sanathan Textiles Limited	Consumer Discretionary	0.07%
242	JUNIPER GREEN ENERGY LTD	Utilities	0.07%
243	Hatsun Agro Product Limited	Consumer Staples	0.06%
244	Vedant Fashions Limited	Consumer Discretionary	0.06%
245	Stanley Lifestyles Limited	Consumer Discretionary	0.05%
246	Astec LifeSciences Limited	Materials	0.04%
247	Studds Accessories Limited	Consumer Discretionary	0.03%
248	SEDEMAC Mechatronics Limited	Consumer Discretionary	0.03%
249	Vinati Organics Limited	Materials	0.03%
250	CMR Green Technologies Limited	Industrials	0.03%
251	PTC India Limited	Utilities	0.03%
252	KUSUMGAR LTD	Consumer Discretionary	0.02%
253	GENUS PRIME INFRA LIMITED	Materials	0.01%
254	Cash Margin - CCILother	—	0.01%

Frequently Asked Questions

Yes. As of its 31 July 2026 disclosure, HDFC Bank Limited is 1.89% of NIPPON INDIA SMALL CAP FUND's net assets — its number 1 holding.

Yes. As of its 31 July 2026 disclosure, Bharat Heavy Electricals Limited is 1.78% of NIPPON INDIA SMALL CAP FUND's net assets — its number 2 holding.

Yes. As of its 31 July 2026 disclosure, Apar Industries Limited is 1.53% of NIPPON INDIA SMALL CAP FUND's net assets — its number 3 holding.

Yes. As of its 31 July 2026 disclosure, Karur Vysya Bank Limited is 1.38% of NIPPON INDIA SMALL CAP FUND's net assets — its number 4 holding.

Yes. As of its 31 July 2026 disclosure, TD Power Systems Limited is 1.38% of NIPPON INDIA SMALL CAP FUND's net assets — its number 5 holding.

New to reading these? See How to Read a Mutual Fund's Monthly Portfolio Disclosure, or check terms like % to NAV in the glossary.

Source: Nippon India Mutual Fund's SEBI-mandated monthly portfolio disclosure, dated 31 July 2026. Data is for information only, not investment advice. Holdings may have changed since the disclosure date.