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Sectoral / Thematic · Nippon India Mutual Fund · AMFI code 101862Nippon India Banking & Financial Services Fund
Disclosed for 64 months, May 2021 to Aug 2026.Published as: NIPPON INDIA BANKING & FINANCIAL SERVICES FUND (An open ended equity scheme investing in Banking & Financial Services Sector)
Portfolio value
₹7,792 Cr
up ₹248 Cr vs Oct 2025
- Stocks held
- 32
Nippon India Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Nippon India Mutual Fund. In November 2025 it disclosed 32 stocks worth ₹7,792 Cr, up ₹248 Cr from Oct 2025. Its largest positions were HDFC Bank Limited (15.6%), ICICI Bank Limited (14.0%), Axis Bank Limited (9.2%); the ten largest together made up 67.0% of the portfolio, and Banks was the biggest sector at 63.4% of its equity. Cash and debt stood at 2.7%. Compared with Oct 2025 the fund entered 2 new stocks and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
92%
Top-10 weight is higher than 92% of peers
Breadth
19%
Holds more stocks than 19% of peers
Cash
38%
Holds more cash than 38% of peers
What these mean: concentration · cash
Holdings in November 2025
Download CSVEvery line the fund disclosed, with the change against Oct 2025. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| HDFC Bank Limited | 15.61% | down 0.19 pts | ₹1,216 Cr | up ₹24.5 Cr | Added |
| ICICI Bank Limited | 14.04% | down 0.01 pts | ₹1,094 Cr | up ₹34.3 Cr | Added |
| Axis Bank Limited | 9.15% | down 0.82 pts | ₹713 Cr | down ₹39 Cr | Trimmed |
| State Bank of India | 7.11% | down 0.59 pts | ₹554 Cr | down ₹27.2 Cr | Trimmed |
| SBI Cards and Payment Services Limited | 4.11% | up 0.19 pts | ₹320 Cr | up ₹24.7 Cr | Added |
| The Federal Bank Limited | 4.11% | up 0.22 pts | ₹320 Cr | up ₹26.4 Cr | Added |
| SBI Life Insurance Company Limited | 3.71% | down 0.10 pts | ₹289 Cr | up ₹1.5 Cr | Added |
| Bajaj Finserv Limited | 3.43% | down 0.10 pts | ₹267 Cr | up ₹73 L | Held |
| Bank of Baroda | 3.01% | up 0.02 pts | ₹235 Cr | up ₹9.2 Cr | Added |
| Kotak Mahindra Bank Limited | 2.77% | up 0.08 pts | ₹216 Cr | up ₹12.8 Cr | Added |
| Cash, TREPS & receivables | 2.74% | up 0.69 pts | ₹214 Cr | up ₹59.2 Cr | Added |
| Max Financial Services Limited | 2.65% | up 0.16 pts | ₹206 Cr | up ₹18.9 Cr | Added |
| Cholamandalam Financial Holdings Limited | 2.52% | down 0.05 pts | ₹197 Cr | up ₹2.8 Cr | Added |
| IndusInd Bank Limited | 2.38% | up 0.10 pts | ₹186 Cr | up ₹13.8 Cr | Added |
| L&T Finance Limited | 2.11% | up 0.22 pts | ₹165 Cr | up ₹22.1 Cr | Added |
| Bajaj Finance Limited | 1.80% | down 0.61 pts | ₹140 Cr | down ₹41.2 Cr | Trimmed |
| Multi Commodity Exchange of India Limited | 1.79% | up 0.09 pts | ₹139 Cr | up ₹11.5 Cr | Added |
| Equitas Small Finance Bank Limited | 1.77% | up 0.15 pts | ₹138 Cr | up ₹15.5 Cr | Added |
| AU Small Finance Bank Limited | 1.73% | up 0.09 pts | ₹135 Cr | up ₹10.9 Cr | Added |
| UTI Asset Management Company Limited | 1.67% | down 0.22 pts | ₹130 Cr | down ₹12.2 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.59% | up 0.02 pts | ₹124 Cr | up ₹5.3 Cr | Added |
| Angel One Limited | 1.53% | up 0.07 pts | ₹119 Cr | up ₹9.3 Cr | Added |
| KFin Technologies Limited | 1.33% | down 0.10 pts | ₹103 Cr | down ₹4.1 Cr | Trimmed |
| HDFC Asset Management Company Limited | 1.15% | down 0.05 pts | ₹89.9 Cr | down ₹56 L | Trimmed |
| ICICI Lombard General Insurance Company Limited | 0.96% | down 0.04 pts | ₹75.1 Cr | down ₹88 L | Trimmed |
| One 97 Communications Limited | 0.88% | down 0.02 pts | ₹68.5 Cr | up ₹90 L | Added |
| PNB Housing Finance Limited | 0.84% | down 0.05 pts | ₹65.7 Cr | down ₹1.7 Cr | Trimmed |
| Aavas Financiers Limited | 0.79% | down 0.08 pts | ₹61.9 Cr | down ₹4.1 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 0.72% | up 0.01 pts | ₹56.3 Cr | up ₹2.6 Cr | Added |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 0.70% | up 0.70 pts | ₹54.3 Cr | up ₹54.3 Cr | New |
| HDB Financial Services Limited | 0.57% | up 0.01 pts | ₹44.4 Cr | up ₹2.1 Cr | Added |
| Seshaasai Technologies Limited | 0.41% | down 0.12 pts | ₹32.1 Cr | down ₹8 Cr | Trimmed |
| Sundaram Finance Limited | 0.31% | up 0.31 pts | ₹24.2 Cr | up ₹24.2 Cr | New |
What changed, Oct 2025 to Nov 2025
New New positions (2)
- DDB DEWAN HSG FINANCE CORPORATION LTD0.7% · ₹54.3 Cr
- Sundaram Finance Limited0.3% · ₹24.2 Cr
Exited Exited (0)
None.
Added Biggest additions
- ICICI Bank Limitedup ₹34.3 Cr (−0.01% pts)
- The Federal Bank Limitedup ₹26.4 Cr (+0.22% pts)
- SBI Cards and Payment Services Limitedup ₹24.7 Cr (+0.19% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Oct 2025, the weight rose most in Finance (+0.7 pts) and Insurance (+0.1 pts), and fell most in Banks (−0.5 pts) and Capital Markets (−0.1 pts).
- Finance17.0% → 17.7%+0.7 pts
- Insurance9.8% → 9.9%+0.1 pts
- Banks63.9% → 63.4%−0.5 pts
- Capital Markets7.8% → 7.7%−0.1 pts
- Financial Technology (fintech)1.5% → 1.3%−0.1 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Nov 2022 | Nov 2024 | May 2025 | Aug 2025 | Oct 2025 | Nov 2025 |
|---|---|---|---|---|---|---|
| Banks | 62.0% | 68.7% | 65.2% | 63.3% | 63.9% | 63.4% |
| Finance | 23.3% | 15.4% | 16.2% | 16.4% | 17.0% | 17.7% |
| Insurance | 7.9% | 7.8% | 9.7% | 11.1% | 9.8% | 9.9% |
| Capital Markets | 5.7% | 6.4% | 7.5% | 7.9% | 7.8% | 7.7% |
| Financial Technology (fintech) | 1.1% | 1.7% | 1.4% | 1.3% | 1.5% | 1.3% |
Allocation in Nov 2025change vs Oct 2025
- Banks (10)63.4%▼ 0.5 pts
- Finance (10)17.7%▲ 0.7 pts
- Insurance (5)9.9%▲ 0.1 pts
- Capital Markets (5)7.7%
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, Nov 2025
2.7%
▲ 0.7 pts vs Oct 2025
- Cash alone
- 2.8%
- cash and net receivables
- A year earlier
- 1.9%
- Nov 2024 · now ▲ 0.8 pts
- Last 12 months
- 1.2% – 3.2%
- lowest to highest · record 5.0% in Jul 2023
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.