Nippon India Large Cap Fund(B)-Direct Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India Large Cap Fund(B)-Direct Plan has a NAV of ₹98.6004 as of 10 Sep 2026 and an AUM of ₹54,133 Cr. Its 1-year, 3-year and 5-year returns are -3.23%, 10.49% and 13.26% respectively, and it sits in the High Risk category.
Our view is that the fund has rewarded patient investors over longer periods, but the recent 1-year outcome has been softer than its 3-year and 5-year track record. The portfolio is anchored in large, established names across banks, IT, infrastructure and financials, which supports a core-large-cap profile, but near-term swings remain part of the journey.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹98.6004 as of 10 Sep 2026 |
| AUM | ₹54,133 Cr |
| Expense Ratio | 0.67% |
| Launch Date | 01 Jan 2013 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 7D, Nil after 7D |
| Fund Managers | Sailesh Raj Bhan, Bhavik Dave |
The fund is managed by Sailesh Raj Bhan and Bhavik Dave.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.02% | -4.06% |
| 3M | 2.53% | 1.37% |
| 1Y | -3.23% | -7.31% |
| 3Y | 10.49% | 6.07% |
| 5Y | 13.26% | 5.91% |
The recent pattern is mixed. Over 1 month, the fund fell slightly less than the benchmark, while the 3-month figure shows a cleaner recovery with the fund ahead of the index. That suggests the recent stretch has been uneven, but not structurally weak compared with the benchmark.
The longer view is stronger. The 3-year and 5-year returns both stay above the benchmark, which tells us the fund has compounded better than NIFTY 50 across a fuller cycle. That is important because large-cap funds are often judged not just on one difficult year, but on whether they keep pace when markets change pace.
The 1-year number remains the main soft spot. It is still better than the benchmark’s 1-year figure, but the negative return means the fund has not had a smooth run lately. We read this as a fund with a respectable long-term record, but one that can still experience broad market-linked drawdowns.
Recent movement and longer-term compounding do not contradict each other here. The fund has shown a better medium-term and long-term profile than the benchmark, yet the latest year shows that returns can cool even when the broader track record remains ahead.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Nippon India Large Cap Fund(B)-Direct Plan?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Nippon India Large Cap Fund(B)-Direct Plan? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India Large Cap Fund(B)-Direct Plan | -3.23% | 10.49% | 13.26% |
| Quant Large Cap Fund Direct Growth Plan | 6.94% | 12.98% | Data not available |
| Taurus Large Cap Fund Direct Growth Plan | 6.59% | 12.63% | 10.28% |
| Bank of India Large Cap Fund Direct Growth Plan | 6.12% | 12.78% | 9.84% |
| Invesco India Largecap Fund Direct Growth Plan | 3.59% | 13.79% | 11.8% |
| ITI Large Cap Fund Direct Growth Plan | 3.13% | 11.23% | 9.73% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return trails the stronger peer figures shown here, so recent momentum looks less competitive than several comparable funds. The picture improves over longer periods: its 3-year return is still healthy, and its 5-year return is stronger than the peer figures available for most of the comparison set. That creates a split story, where short-term traction is weaker but the longer-term record remains solid.
In other words, the fund does not stand out on recent 1-year performance, yet its 3-year and 5-year numbers show that it has kept compounding well over time. For investors who care more about cycle-through-cycle participation than a single year’s return, that difference matters more than the weaker recent stretch.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Limited | Bank | 8.65% |
| ICICI Bank Limited | Bank | 6.71% |
| Axis Bank Limited | Bank | 5.29% |
| Reliance Industries Limited | Crude Oil | 4.11% |
| Larsen & Toubro Limited | Infrastructure | 3.7% |
| Infosys Limited | IT | 3.63% |
| Tata Consultancy Services Limited | IT | 3.55% |
| Bajaj Finance Limited | Finance | 3.23% |
| State Bank of India | Bank | 2.95% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.92% |
The top 10 holdings account for approximately 44.74% of the portfolio.
To see all holdings, visit the Nippon India Large Cap Fund(B)-Direct Plan page
The largest holding is HDFC Bank Limited at 8.65%, which is meaningful but not extreme for a large-cap equity fund. The next few positions also carry sizeable weights, so the top end of the portfolio has a visible influence on returns. That means stock selection in the largest names may matter more than a broad, evenly spread exposure.
The decline from the first holding to the tenth is fairly measured, moving from 8.65% to 2.92%. That tells us the portfolio is not built around one oversized position alone; instead, several large names share the weight. Still, the top holdings are clearly important, and changes in a handful of stocks may have a greater effect than smaller positions.
Because the top 10 holdings make up about 44.74% of the portfolio across 57 disclosed holdings, the fund looks moderately concentrated at the top and more diversified beneath it. That mix may help balance conviction in core holdings with some spread across the tail, but it also means the leading positions could remain a key driver of outcomes.
Source data date: as of 10 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and are comfortable with equity-style ups and downs. The negative 1-year return shows that even a large-cap fund can go through a weak phase, while the stronger 3-year and 5-year numbers suggest the payoff may be better over a longer holding period.
Our view is that the fund fits better as a multi-year holding than as a short-term parking place. Investors who want benchmark-aware large-cap exposure and can accept some volatility may find the return pattern and portfolio structure more relevant than the latest one-year softness. The key trade-off is accepting near-term fluctuations in exchange for the possibility of steadier long-run compounding.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold on or before 7 days; nil after 7 days.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Nippon India Large Cap Fund(B)-Direct Plan?
The current NAV is ₹98.6004 as of 10 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is -3.23%, the 3-year return is 10.49% and the 5-year return is 13.26%.
How does it compare with the NIFTY 50 benchmark?
It is ahead of the benchmark over 3 years and 5 years, while the 1-year figure is still negative for both. The 3-month return is also better than the benchmark.
How does it compare with the peer funds shown here?
Its recent 1-year return is weaker than several peer figures shown here, but its 5-year return is stronger than the peer 5-year figures available for most of the comparison set. That makes the shorter and longer horizons tell different stories.
Is there a minimum SIP amount?
No minimum SIP amount is listed here.
Who manages the fund and what is the exit load?
The fund is managed by Sailesh Raj Bhan and Bhavik Dave. The exit load is 1% if units are sold on or before 7 days, and nil after 7 days.
Bottom line
Nippon India Large Cap Fund(B)-Direct Plan has a mixed near-term record but a stronger medium- and long-term return profile. Its 1-year outcome has been weaker, yet its 3-year and 5-year results remain ahead of the benchmark and compare well on the longer horizon against the peer set shown here. The portfolio is led by large bank and IT positions, so the fund’s behaviour is likely to stay linked to core large-cap market moves. It looks best suited to investors who can stay invested through volatility and value longer-run compounding over short-term consistency.
Published on 11 September 2026 at 12:49 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.