Nippon India Small Cap Fund Direct Growth NAV at ₹189.21 on 23 October 2026; Falls 2.39%

Key Takeaways

• Nippon India Small Cap Fund Direct Growth recorded a NAV of ₹189.21 on 23 October 2026 after declining 2.39% for the valuation day.
• Historical returns stood at -1.40% over one year, 12.61% annualised over three years and 16.46% annualised over five years.
• The scheme had a fund size of ₹80,906 crore and a Direct Growth expense ratio of 0.69%, with a minimum SIP of ₹100.
• TREPS was the largest overall disclosed allocation at 2.68%, while TD Power Systems was the largest listed equity holding at 1.88%.

Nippon India Small Cap Fund Direct Growth recorded a NAV of ₹189.21 on 23 October 2026, with the NAV declining 2.39% during the valuation day. Its three-year CAGR stood at 12.61%, according to the refreshed primary NAV card.

The broader return record showed a -1.40% one-year return, 12.61% three-year CAGR and 16.46% five-year annualised return. The difference between the shorter and longer periods illustrates why a single day's NAV movement and multi-year annualised numbers represent distinct measures of performance.

At the latest snapshot, the scheme managed ₹80,906 crore. The Direct Growth expense ratio stood at 0.69%. The minimum SIP was ₹100, while the minimum lump-sum investment displayed on the page was ₹5,000.

Portfolio disclosures require a distinction between equity securities and liquidity holdings. TREPS accounted for 2.68% and was the largest overall disclosed allocation, but it is a short-term money-market exposure rather than an equity stock. TD Power Systems was the largest listed equity holding at 1.88%, followed by BHEL at 1.77%, HDFC Bank at 1.75% and Apar Industries at 1.74%. The five largest disclosed entries, including TREPS, represented about 9.82% of the portfolio.

As a small-cap scheme, its equity portfolio is predominantly oriented towards smaller listed companies, whose market prices can experience larger short-term swings than established large-cap businesses. That characteristic helps explain why daily NAV changes should be considered separately from multi-year return figures. No NAV for another valuation date has been carried forward into the 23 October figure.