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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
₹6,721 Cr
down ₹1,148 Cr vs Feb 2026
- Stocks held
- 36
Nippon India Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Nippon India Mutual Fund. In March 2026 it disclosed 36 stocks worth ₹6,721 Cr, down ₹1,148 Cr from Feb 2026. Its largest positions were HDFC Bank Limited (13.7%), ICICI Bank Limited (13.5%), Axis Bank Limited (9.6%); the ten largest together made up 62.3% of the portfolio, and Banks was the biggest sector at 56.5% of its equity. Cash and debt stood at 1.4%. Compared with Feb 2026 the fund entered 1 new stock and exited 0.
Against 229 other Sectoral / Thematic funds
Concentration
87%
Top-10 weight is higher than 87% of peers
Breadth
32%
Holds more stocks than 32% of peers
Cash
19%
Holds more cash than 19% of peers
What these mean: concentration · cash
Holdings in March 2026
Download CSVEvery line the fund disclosed, with the change against Feb 2026. 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 | 13.74% | down 0.50 pts | ₹923 Cr | down ₹197 Cr | Trimmed |
| ICICI Bank Limited | 13.53% | up 0.49 pts | ₹909 Cr | down ₹117 Cr | Trimmed |
| Axis Bank Limited | 9.63% | down 0.17 pts | ₹647 Cr | down ₹124 Cr | Trimmed |
| State Bank of India | 6.07% | down 0.44 pts | ₹408 Cr | down ₹105 Cr | Trimmed |
| SBI Cards and Payment Services Limited | 3.68% | down 0.15 pts | ₹247 Cr | down ₹54.1 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 3.61% | up 0.52 pts | ₹243 Cr | down ₹95 L | Held |
| SBI Life Insurance Company Limited | 3.57% | up 0.07 pts | ₹240 Cr | down ₹35.1 Cr | Trimmed |
| Bajaj Finserv Limited | 3.10% | down 0.13 pts | ₹208 Cr | down ₹46.1 Cr | Trimmed |
| Cholamandalam Financial Holdings Limited | 2.77% | up 0.29 pts | ₹186 Cr | down ₹8.9 Cr | Trimmed |
| ICICI Prudential Asset Management Company Limited | 2.64% | up 0.14 pts | ₹178 Cr | down ₹19.7 Cr | Trimmed |
| Bank of Baroda | 2.50% | down 0.28 pts | ₹168 Cr | down ₹50.5 Cr | Trimmed |
| Max Financial Services Limited | 2.48% | down 0.10 pts | ₹167 Cr | down ₹36.1 Cr | Trimmed |
| Multi Commodity Exchange of India Limited | 2.45% | up 0.31 pts | ₹165 Cr | down ₹3.7 Cr | Trimmed |
| IndusInd Bank Limited | 2.42% | down 0.21 pts | ₹163 Cr | down ₹44.2 Cr | Trimmed |
| L&T Finance Limited | 1.70% | down 0.20 pts | ₹114 Cr | down ₹35.5 Cr | Trimmed |
| Star Health And Allied Insurance Company Limited | 1.67% | up 0.63 pts | ₹112 Cr | up ₹30.6 Cr | Added |
| Equitas Small Finance Bank Limited | 1.66% | down 0.10 pts | ₹111 Cr | down ₹27.2 Cr | Trimmed |
| Bajaj Finance Limited | 1.61% | down 0.10 pts | ₹108 Cr | down ₹26.2 Cr | Trimmed |
| UTI Asset Management Company Limited | 1.59% | up 0.16 pts | ₹107 Cr | down ₹5.7 Cr | Trimmed |
| AU Small Finance Bank Limited | 1.58% | up 0.05 pts | ₹107 Cr | down ₹14.6 Cr | Trimmed |
| KFin Technologies Limited | 1.56% | up 0.11 pts | ₹105 Cr | down ₹9.6 Cr | Trimmed |
| Angel One Limited | 1.49% | up 0.19 pts | ₹100 Cr | down ₹2.5 Cr | Trimmed |
| HDFC Life Insurance Company Limited | 1.43% | down 0.05 pts | ₹96 Cr | down ₹20.3 Cr | Trimmed |
| Cash, TREPS & receivables | 1.42% | down 0.78 pts | ₹95.6 Cr | down ₹77.4 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 1.40% | up 0.48 pts | ₹94.1 Cr | up ₹21.6 Cr | Added |
| Power Finance Corporation Limited | 1.33% | up 1.33 pts | ₹89.2 Cr | up ₹89.2 Cr | New |
| Aye Finance Limited | 1.31% | down 0.09 pts | ₹88 Cr | down ₹22 Cr | Trimmed |
| PNB Housing Finance Limited | 1.30% | up 0.24 pts | ₹87.3 Cr | up ₹4.3 Cr | Added |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 1.14% | up 0.22 pts | ₹76.8 Cr | up ₹4 Cr | Added |
| HDFC Asset Management Company Limited | 1.11% | down 0.04 pts | ₹74.6 Cr | down ₹16.2 Cr | Trimmed |
| The Federal Bank Limited | 0.93% | down 1.84 pts | ₹62.3 Cr | down ₹155 Cr | Trimmed |
| One 97 Communications Limited | 0.74% | up 0.02 pts | ₹49.7 Cr | down ₹7.2 Cr | Trimmed |
| Sundaram Finance Limited | 0.69% | up 0.06 pts | ₹46.4 Cr | down ₹3.2 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 0.69% | down 0.07 pts | ₹46.3 Cr | down ₹13.2 Cr | Trimmed |
| Aavas Financiers Limited | 0.64% | down 0.01 pts | ₹43.1 Cr | down ₹8.3 Cr | Trimmed |
| HDB Financial Services Limited | 0.48% | down 0.04 pts | ₹32.4 Cr | down ₹8.4 Cr | Trimmed |
| Seshaasai Technologies Limited | 0.34% | up 0.01 pts | ₹22.9 Cr | down ₹3.2 Cr | Trimmed |
What changed, Feb 2026 to Mar 2026
New New positions (1)
- Power Finance Corporation Limited1.3% · ₹89.2 Cr
Exited Exited (0)
None.
Added Biggest additions
- Star Health And Allied Insurance Company Limitedup ₹30.6 Cr (+0.63% pts)
- ICICI Lombard General Insurance Company Limitedup ₹21.6 Cr (+0.48% pts)
- PNB Housing Finance Limitedup ₹4.3 Cr (+0.24% pts)
- DDB DEWAN HSG FINANCE CORPORATION LTD ₹4 Cr (+0.22% 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 Feb 2026, the weight rose most in Finance (+1.3 pts) and Insurance (+0.9 pts), and fell most in Banks (−3.0 pts).
- Finance18.7% → 20.0%+1.3 pts
- Insurance10.5% → 11.4%+0.9 pts
- Capital Markets10.2% → 11.0%+0.8 pts
- Banks59.5% → 56.5%−3.0 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 | Mar 2023 | Mar 2025 | Sep 2025 | Dec 2025 | Feb 2026 | Mar 2026 |
|---|---|---|---|---|---|---|
| Banks | 63.5% | 64.9% | 63.4% | 61.1% | 59.5% | 56.5% |
| Finance | 22.8% | 17.9% | 16.9% | 17.8% | 18.7% | 20.0% |
| Insurance | 8.0% | 8.3% | 10.1% | 9.9% | 10.5% | 11.4% |
| Capital Markets | 5.6% | 7.3% | 7.8% | 9.9% | 10.2% | 11.0% |
| Financial Technology (fintech) | — | 1.6% | 1.7% | 1.3% | 1.1% | 1.1% |
Allocation in Mar 2026change vs Feb 2026
- Banks (10)56.5%▼ 3.0 pts
- Finance (12)20.0%▲ 1.3 pts
- Insurance (6)11.4%▲ 0.9 pts
- Capital Markets (6)11.0%
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, Mar 2026
1.4%
▼ 0.8 pts vs Feb 2026
- Cash alone
- 1.4%
- cash and net receivables
- A year earlier
- 3.2%
- Mar 2025 · now ▼ 1.7 pts
- Last 12 months
- 1.4% – 3.0%
- 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.