Nippon India Equity Savings Fund - Direct Plan - IDCW

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Category : Equity Savings

Equity Holding : 70.87% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 70.87%

No of Stocks : 42 (Category Avg - 76.88) | Large Cap Investments : 56.38%| Mid Cap Investments : 3.24% | Small Cap Investments : 0% | Other : 11.25%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	42	69.84
Top 5 Stock Weight	28.56%	23.3%
Top 10 Stock Weight	47.83%	36.22%
Top 3 Sector Weight	32.63%	26.18%

Category - Equity Savings

Particulars	This Scheme	Category
Average mcap (Cr)	132088.73	106470.13
Holdings in large cap stocks	56.38%	42.8%
Holdings in mid cap stocks	3.24%	6.8%
Holdings in small cap stocks	0%	3.44%

Category - Equity Savings

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# HDFC Bank Ltd.	Private sector bank	598.4	7.05%	0.00%	7.4% (Apr 2025)	3.97% (Oct 2024)	6.06 L	73.70 k
# ICICI Bank Ltd.	Private sector bank	478.3	5.63%	0.00%	6.9% (Jul 2025)	5.39% (Oct 2024)	3.56 L	0.00
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	477.5	5.63%	0.00%	5.54% (Aug 2025)	1.01% (Oct 2024)	2.32 L	0.00
# Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	451.2	5.32%	0.00%	5.34% (Sep 2025)	2.53% (Oct 2024)	1.29 L	0.00
# Larsen & Toubro Ltd.	Civil construction	418.6	4.93%	0.00%	5.14% (May 2025)	3.76% (Feb 2025)	1.04 L	0.00
# Reliance Industries Ltd.	Refineries & marketing	414.7	4.89%	0.00%	5.58% (Apr 2025)	4.45% (Dec 2024)	2.79 L	0.00
# Kotak Mahindra Bank Ltd.	Private sector bank	386	4.55%	0.00%	4.4% (Sep 2025)	0.29% (Jan 2025)	1.84 L	0.00
# Vedanta Ltd.	Diversified metals	321.3	3.78%	0.00%	3.73% (Mar 2025)	2.94% (Dec 2024)	6.51 L	0.00
# Axis Bank Ltd.	Private sector bank	282.8	3.33%	0.00%	3.07% (Jul 2025)	2.02% (Jan 2025)	2.29 L	10.00 k
# Grasim Industries Limited	Cement & cement products	230.9	2.72%	0.00%	3.02% (Jun 2025)	2.59% (Feb 2025)	79.84 k	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
# HDFC Bank Ltd.	Private sector bank	20.56	598.4	7.05%	0.00%	7.4% (Apr 2025)	3.97% (Oct 2024)	6.06 L	73.70 k	Other	11.25
# ICICI Bank Ltd.	Private sector bank	20.56	478.3	5.63%	0.00%	6.9% (Jul 2025)	5.39% (Oct 2024)	3.56 L	0.00	Large Cap	56.38
# Bharti Airtel Ltd.	Telecom - cellular & fixed line services	5.63	477.5	5.63%	0.00%	5.54% (Aug 2025)	1.01% (Oct 2024)	2.32 L	0.00	Large Cap	56.38
# Mahindra & Mahindra Ltd.	Passenger cars & utility vehicles	6.44	451.2	5.32%	0.00%	5.34% (Sep 2025)	2.53% (Oct 2024)	1.29 L	0.00	Large Cap	56.38
# Larsen & Toubro Ltd.	Civil construction	4.93	418.6	4.93%	0.00%	5.14% (May 2025)	3.76% (Feb 2025)	1.04 L	0.00	Large Cap	56.38
# Reliance Industries Ltd.	Refineries & marketing	4.89	414.7	4.89%	0.00%	5.58% (Apr 2025)	4.45% (Dec 2024)	2.79 L	0.00	Large Cap	56.38
# Kotak Mahindra Bank Ltd.	Private sector bank	20.56	386	4.55%	0.00%	4.4% (Sep 2025)	0.29% (Jan 2025)	1.84 L	0.00	Large Cap	56.38
# Vedanta Ltd.	Diversified metals	3.78	321.3	3.78%	0.00%	3.73% (Mar 2025)	2.94% (Dec 2024)	6.51 L	0.00	Large Cap	56.38
# Axis Bank Ltd.	Private sector bank	20.56	282.8	3.33%	0.00%	3.07% (Jul 2025)	2.02% (Jan 2025)	2.29 L	10.00 k	Large Cap	56.38
# Grasim Industries Limited	Cement & cement products	2.8	230.9	2.72%	0.00%	3.02% (Jun 2025)	2.59% (Feb 2025)	79.84 k	0.00	Large Cap	56.38
# Lupin Ltd.	Pharmaceuticals	2.25	135.2	1.59%	0.00%	1.77% (Jun 2025)	0% (Oct 2024)	68.85 k	0.00	Large Cap	56.38
# HCL Technologies Limited	Computers - software & consulting	3.66	131.2	1.55%	0.00%	2.47% (Dec 2024)	1.42% (Sep 2025)	85.10 k	0.00	Large Cap	56.38
# Hindustan Unilever Ltd.	Diversified fmcg	2.72	130.4	1.54%	0.00%	1.87% (Jan 2025)	1.6% (Sep 2025)	52.90 k	0.00	Large Cap	56.38
# State Bank Of India	Public sector bank	2.61	122.1	1.44%	0.00%	1.88% (Jun 2025)	1.26% (Oct 2024)	1.30 L	0.00	Large Cap	56.38
# ICICI Prudential Life Insurance Co Ltd.	Life insurance	2.27	118.1	1.39%	0.00%	1.75% (Jun 2025)	0% (Oct 2024)	2.00 L	0.00	Large Cap	56.38
# Infosys Ltd.	Computers - software & consulting	3.66	103.8	1.22%	0.00%	2.31% (Jan 2025)	0.89% (Jul 2025)	70.00 k	0.00	Large Cap	56.38
# ITC Limited	Diversified fmcg	2.72	100.2	1.18%	0.00%	2.7% (Dec 2024)	1.15% (Sep 2025)	2.38 L	0.00	Large Cap	56.38
# Canara Bank	Public sector bank	2.61	98.9	1.17%	0.00%	1.15% (May 2025)	0.86% (Feb 2025)	7.22 L	0.00	Other	11.25
# Power Finance Corporation Ltd.	Financial institution	1.11	94.2	1.11%	0.00%	1.34% (Mar 2025)	0.63% (Oct 2024)	2.34 L	0.00	Mid Cap	3.24
# Tata Steel Ltd.	Iron & steel products	1.67	93.5	1.10%	0.00%	1.14% (May 2025)	0.98% (Jan 2025)	5.12 L	0.00	Other	11.25
# National Thermal Power Corporation Ltd.	Power generation	1.08	91.3	1.08%	0.00%	2.75% (Oct 2024)	0.93% (May 2025)	2.71 L	0.00	Large Cap	56.38
# Maruti Suzuki India Ltd.	Passenger cars & utility vehicles	6.44	80.9	0.95%	0.00%	1.22% (Feb 2025)	0% (Oct 2024)	5.00 k	1.50 k	Large Cap	56.38
# Eternal Ltd.	E-retail/ e-commerce	0.88	75	0.88%	0.00%	0.93% (Sep 2025)	0% (Oct 2024)	2.36 L	0.00	Other	11.25
# Cummins India Ltd.	Compressors, pumps & diesel engines	0.72	60.8	0.72%	0.00%	0.69% (Aug 2025)	0.56% (Feb 2025)	14.00 k	0.00	Mid Cap	3.24
# Bharat Electronics Ltd.	Aerospace & defense	0.95	56.6	0.67%	0.00%	0.74% (Jun 2025)	0.48% (Feb 2025)	1.33 L	0.00	Mid Cap	3.24
# Sun Pharmaceutical Industries Ltd.	Pharmaceuticals	2.25	56	0.66%	0.00%	1.28% (Dec 2024)	0.64% (Sep 2025)	33.10 k	0.00	Large Cap	56.38
# Tata Consultancy Services Ltd.	Computers - software & consulting	3.66	52.2	0.62%	0.00%	1.95% (Mar 2025)	0.59% (Sep 2025)	17.08 k	0.00	Large Cap	56.38
# Bajaj Auto Ltd.	2/3 wheelers	0.87	48.9	0.58%	0.00%	0.77% (Oct 2024)	0.47% (Jul 2025)	5.50 k	0.00	Large Cap	56.38
# HDFC Life Insurance Company Ltd.	Life insurance	2.27	43.9	0.52%	0.00%	0.96% (May 2025)	0.55% (Sep 2025)	60.00 k	0.00	Large Cap	56.38
# Jindal Steel Ltd.	Iron & steel products	1.67	32	0.38%	0.00%	0.38% (Sep 2025)	0.21% (Jan 2025)	30.00 k	0.00	Mid Cap	3.24
# ITC Hotels Ltd	Hotels & resorts	0.37	31.6	0.37%	0.00%	0.31% (Aug 2025)	0% (Oct 2024)	1.46 L	45.57 k	Other	11.25
# Max Financial Services Ltd.	Life insurance	2.27	30.9	0.36%	0.00%	0.37% (Aug 2025)	0.24% (Feb 2025)	20.00 k	2.00 k	Mid Cap	3.24
# DLF Ltd.	Residential, commercial projects	0.29	25	0.29%	0.00%	0.39% (Dec 2024)	0.28% (Sep 2025)	33.00 k	0.00	Large Cap	56.38
# Eicher Motors Ltd.	2/3 wheelers	0.87	24.5	0.29%	0.00%	0.3% (Sep 2025)	0% (Oct 2024)	3.50 k	0.00	Other	11.25
# Hindustan Aeronautics Ltd.	Aerospace & defense	0.95	23.9	0.28%	0.00%	0.35% (May 2025)	0% (Oct 2024)	5.10 k	0.00	Other	11.25
# Tech Mahindra Ltd.	Computers - software & consulting	3.66	22.8	0.27%	0.00%	0.36% (Nov 2024)	0.21% (Apr 2025)	16.00 k	0.00	Large Cap	56.38
# Coal India Ltd.	Coal	0.21	17.5	0.21%	0.00%	3.15% (Oct 2024)	0.28% (Sep 2025)	45.00 k	-0.15 L	Large Cap	56.38
# J S W Steel Ltd.	Iron & steel products	1.67	16.3	0.19%	0.00%	0.21% (Mar 2025)	0.17% (Dec 2024)	13.50 k	0.00	Large Cap	56.38
# Tata Motors Ltd.	Passenger cars & utility vehicles	6.44	14.4	0.17%	0.00%	1.56% (Oct 2024)	1.21% (Sep 2025)	35.00 k	-1.13 L	Large Cap	56.38
# TML Commercial Vehicles Ltd.	Commercial vehicles	0.11	9.1	0.11%	0.11%	0% (Nov 2025)	0% (Nov 2025)	35.00 k	35.00 k	Other	11.25
# Ambuja Cements Ltd.	Cement & cement products	2.8	7.1	0.08%	0.00%	0.1% (Jun 2025)	0.08% (Feb 2025)	12.60 k	0.00	Large Cap	56.38
# UPL Ltd.	Pesticides & agrochemicals	0.07	6.2	0.07%	0.00%	0.68% (Apr 2025)	0.07% (Sep 2025)	8.61 k	0.00	Large Cap	56.38

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# TML Commercial Vehicles Ltd.	Commercial vehicles	9.1	0.11%	0.11%	0% (Nov 2025)	0% (Nov 2025)	35.00 k	35000

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
No complete exits in the portfolio in the last month.

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	7.05%	6.10%	6.53%	7.04%	7.07%	7.29%	7.40%	7.14%	6.91%	6.56%	4.12%	4.14%	3.97%
ICICI Bank Ltd.	5.63%	5.77%	6.41%	6.90%	6.52%	6.81%	6.89%	6.32%	5.50%	5.54%	5.61%	5.64%	5.39%
Reliance Industries Ltd.	4.89%	4.58%	4.88%	5.08%	5.56%	5.50%	5.58%	4.96%	4.59%	4.69%	4.45%	4.70%	4.80%
Larsen & Toubro Ltd.	4.93%	4.57%	4.82%	4.95%	5.06%	5.14%	3.85%	4.07%	3.76%	4.11%	4.12%	4.16%	4.01%
Mahindra & Mahindra Ltd.	5.32%	5.34%	4.28%	4.35%	4.21%	4.11%	4.15%	3.26%	3.23%	3.62%	3.09%	2.90%	2.53%
Vedanta Ltd.	3.78%	3.65%	3.21%	3.30%	3.71%	3.48%	3.44%	3.73%	3.24%	3.51%	2.94%	2.97%	3.02%
Grasim Industries Limited	2.72%	2.65%	2.86%	2.87%	3.02%	2.82%	2.97%	2.87%	2.59%	2.73%	2.63%	2.78%	2.86%
Bharti Airtel Ltd.	5.63%	5.26%	5.54%	3.86%	4.11%	1.29%	1.33%	1.25%	1.16%	1.16%	1.12%	1.14%	1.01%
Axis Bank Ltd.	3.33%	2.99%	2.96%	3.07%	2.30%	2.37%	2.41%	2.28%	2.15%	2.02%	2.16%	2.28%	2.31%
HCL Technologies Limited	1.55%	1.42%	1.60%	1.64%	1.95%	1.93%	1.90%	2.10%	2.12%	2.25%	2.47%	2.36%	2.24%
Power Grid Corporation of India Ltd.	-	-	-	-	-	1.78%	1.94%	1.86%	1.64%	1.91%	1.93%	2.05%	1.98%
Coal India Ltd.	0.21%	0.28%	0.29%	0.30%	0.31%	2.76%	2.74%	2.88%	2.73%	2.83%	2.72%	2.92%	3.15%
Hindustan Unilever Ltd.	1.54%	1.60%	1.81%	1.75%	1.61%	1.72%	1.76%	1.73%	1.71%	1.87%	1.74%	1.85%	1.72%
Lupin Ltd.	1.59%	1.58%	1.68%	1.74%	1.77%	-	-	-	-	-	-	-	-
Kotak Mahindra Bank Ltd.	4.55%	4.40%	3.43%	1.47%	1.11%	1.12%	1.22%	0.34%	0.30%	0.29%	0.53%	0.84%	0.98%

No of Debt Holding 20 (Category Avg - 15.96) | Modified Duration 2.65 Years (Category Avg - 2.51)| Yield to Maturity 6.52% (Category Avg - 6.43%)

Portfolio Summary (as on 31st Oct,2025)

Security Type	% Weight	Category Average
GOI	11.65%	8.94%
CD	0.00%	0.37%
T-Bills	0.00%	0.55%
CP	0.00%	0.43%
NCD & Bonds	9.85%	7.62%
PTC	0.00%	0.17%

Category - Equity Savings

Security Type	% Weight	Category Average
Government Backed	11.65%	9.49%
Low Risk	9.85%	8.46%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Category - Equity Savings

Debt holding in Portfolio (as on 31st Oct,2025)

Instrument	Type	Sector	Rating	Rating Agency	Value (Mn)	% of Total Holding	Quantity
Bond - Govt of India	GOI	Other			366.50	4.32%	35.00 L
Bond - Govt of India	GOI	Other			259.63	3.06%	25.00 L
Bond - Govt of India	GOI	Other			155.03	1.83%	15.00 L
Bond - Govt of India	GOI	Other			103.92	1.22%	10.00 L
Bond - Govt of India	GOI	Other			103.60	1.22%	10.00 L
Bond - Godrej Housing Finance Ltd.	NCD & Bonds	Housing finance company	AA+	CRISIL	102.20	1.20%	1.00 k
Bond - National Bank for Agriculture & Rural Development	NCD & Bonds	Financial institution	AAA	CRISIL	101.84	1.20%	1.00 k
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	LAAA	ICRA	99.84	1.18%	1.00 k
Bond - Indian Railway Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	52.46	0.62%	50.00
Bond - Muthoot Finance Pvt. Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AA+	CRISIL	51.58	0.61%	500.00
Bond - Small Industries Development Bank Of India	NCD & Bonds	Financial institution	AAA	CRISIL	51.51	0.61%	500.00
Bond - Truhome Finance Ltd.	NCD & Bonds	Housing finance company	AA	CRISIL	51.34	0.60%	500.00
Bond - Cholamandalam Investment & Finance Co. Ltd.	NCD & Bonds	Non banking financial company (nbfc)	LAA+	ICRA	51.30	0.60%	500.00
Bond - Bajaj Finance Ltd.	NCD & Bonds	Non banking financial company (nbfc)	AAA	CRISIL	51.15	0.60%	500.00
Bond - National Bank for Agriculture & Rural Development	NCD & Bonds	Financial institution	AAA	CRISIL	50.97	0.60%	500.00
Bond - Rural Electrification Corporation Limited	NCD & Bonds	Financial institution	AAA	CRISIL	50.93	0.60%	50.00
Bond - Power Finance Corporation Ltd.	NCD & Bonds	Financial institution	AAA	CRISIL	50.69	0.60%	50.00
Bond - Vedanta Ltd.	NCD & Bonds	Diversified metals	AA	CRISIL	50.06	0.59%	500.00
Bond - Telangana State Industrial Infrastructure Corporation Ltd.	NCD & Bonds	Diversified commercial services	AA	FITCH	10.11	0.12%	100.00
Bond - Telangana State Industrial Infrastructure Corporation Ltd.	NCD & Bonds	Diversified commercial services	AA	FITCH	10.07	0.12%	100.00